World Economics - Insight , Analysis and Data

World Economics - Measuring Global Economic Activity and GDP
Weapons Exports
Samuel Brittan, World Economics, June 2003
The commonly held view that an ethical approach to arms sales is desirable but ‘unaffordable’ because jobs and exports are at stake is challenged by Samuel Brittan. He argues that it arises from a failure to understand the circular flow of income, the fallacy of a ‘lump of labour’ and a long discredited mercantilist view of trade. The author contends that on moral and economic grounds, arms sales should not be subsidised or officially promoted in any way, and governments should be much stricter in enforcing bans on sales to dubious regimes.

Related thinking:
    Global Value Chains, International Trade Statistics and Policymaking in a Flattening World
Alejandro Jara and Hubert Escaith, World Economics, December 2012
    The Value of Value Added
William Powers, World Economics, December 2012
    The Diseconomies of Terrorism
Peter J. Phillips, World Economics, December 2011

Download paper

© Copyright World Economics Ltd. 2015