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Patrick Boyle On Finance
The End of the Peace Dividend
Nov 11, 2023
The podcast discusses the impact of global conflict on defense spending, including the economic futility of war, the need for balanced arsenal, rising military spending, and the implications of Taiwan's submarine project.
20:59
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Quick takeaways
- The concept of the peace dividend, which referred to the economic benefits of reduced defense spending, may no longer be applicable due to recent global conflicts and security threats.
- Governments worldwide are grappling with the dilemma of allocating funds for defense while addressing other pressing needs like healthcare, education, and green policies.
Deep dives
The Peace Dividend and Reduced Defense Spending
The podcast explores the concept of the peace dividend, popularized by George Bush Sr. and Margaret Thatcher after the collapse of the Soviet Union. This idea referred to the economic benefits of reduced defense spending. Western countries did reduce their defense budgets and allocated the funds to other priorities like healthcare and education.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode