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Originally Posted by gunner  I get the impression [if Ive read it right] That the author is advocating that the industry is not as large and economically important as some might think. That theory might work on the grander scale but taking my city as an example, The defence industry is the biggest employer direct and indirectly. |
There certainly are some regional issues, given the nature of geographic concentration. However, for the British economy, we have to consider the opportunity costs. With spin-in (where R&D resources are focused on finding military use for civilian know-how), we have to appreciate that the military production leads to reduced civilian economic success. Our economic growth is essentially stunted by wasting scarce resources (particularly scientists and engineers) on a illiberal trade with only limited economic benefits