The Complex Dynamics of Defence Spending and its Impact on National Economies
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The economic impact of defence spending is a complicated subject. Detractors of defence spending cite a variety of reasons why defence spending is wasteful, ineffective or harmful and that it diverts resources from more urgent or beneficial areas such as education, healthcare and development. Could NATO’s failure to deter Russia from invading Ukraine be seen as insufficient commitment to defence spending? The answer is not simplistic, and neither is the case for and against spending on defence. Does defence spending benefit the economy or is it a waste of resources?
We recently came across a detailed study conducted by Price Waterhouse Coopers (PwC) on the economic impact of defence spending which we thought was interesting. We believe some of these views are sometimes not well understood by political leadership and the public.
After digesting the report, we had a few questions and reached out to PwC for an interview. We’re grateful for them granting our request and putting us in touch with Roberto Maseo Benito.
