The impact of the current defense build-down

Abstract

For the third time since the end of World War II, the United States is engaged in a long-term defense build-down. This article provides a broad macroeconomic overview of the current build-down relative to the build-downs following the Korean War and the Vietnam War. In addition, the authors examine regional and industrial impacts of cuts in defense spending.Defense contracts ; War - Economic aspects ; Employment (Economic theory)