Permanent war economy

Short description: Concept used to describe the post-WWII United States economy

The concept of permanent war economy originated in 1944 with an article by Ed Sard (alias Frank Demby, Walter S. Oakes and T.N. Vance), a theoretician who predicted a post-war arms race. He argued at the time that the United States would retain the character of a war economy; even in peacetime, US military expenditure would remain large, reducing the percentage of unemployed compared to the 1930s. He extended this analysis in 1950 and 1951.[1]

## See also

* Iron triangle
* List of countries by military expenditures
* Military budget of the United States
* Military Keynesianism
* Perpetual war
* Ultra-imperialism

## Notes

1. ↑ See Peter Drucker, Max Schachtman and his Left. A Socialist Odyssey through the 'American Century', Humanities Press 1994, p. xv, 218; Paul Hampton, "Trotskyism after Trotsky? C'est moi!", in Workers Liberty, vol 55, April 1999, p. 38

## References

* Walter S. Oakes, 1944, "Towards a Permanent Arms Economy?", Politics, February.
* T. N. Vance, 1950, "After Korea What? An Economic Interpretation of U.S. Perspectives", New International, November–December.
* T. N. Vance, 1951, "The Permanent Arms Economy", New International. [series of articles]
* Charles Edward Wilson, "Army Ordnance (Vol. XXVI, No. 143, March–April 1944)".
* Tony Cliff, Perspectives for the permanent war economy. Socialist Review March 1957. Reprint Tony Cliff, Marxist Theory after Trotsky. Selected Writings. Volume 3. Bookmarks London 2003. ISBN:1-898876-93-2
* Chris Harman, Explaining the Crisis – A Marxist Re-Appraisal. Bookmarks London 1999. ISBN:0-906224-11-X
* Chris Harman, Analysing Imperialism International Socialism 99. Summer 2003.
* Michael Kidron, Western Capitalism Since the War. Penguin Books Harmondsworth 1970.
* Alfred Sohn-Rethel, Industrie und Nationalsozialismus. Aufzeichnungen aus dem “Mitteleuropäischen Wirtschaftstag”. Wagenbach-Verlag Berlin 1992. ISBN:3-8031-2204-X
* Alfred Sohn-Rethel, Economy and class structure of German fascism London, CSE Books 1978.
* Ernest Mandel, Late Capitalism. London: Verso, 1975.

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