The Price of Peace: Adjustment Strategies for Reductions in Defense Spending in the United States

Abstract

All wars command a great many people and resources, affecting the nature and structure of the economies of the countries involved. The conclusions of wars free these quantitities of people and resources for other uses, again affecting the nature, structure and growth of the economies of their countries. Such was the case after World War II and such has been the case in the aftermath of the Cold War.