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• W273926850 abstract "most publicly discussed link between economics and security is relationship between economic performance and power. underpinnings for this relationship come from philosophical approach that sees political power stemming from economic power. Espoused at least since 17th century by English Civil War philosopher lames Harrington,1 these ideas saw their most well known expression in philosophy of Karl Marx, who saw economic change driving political change. If economic structures determined politics then link with security is clear. Carl von Clausewitz's likened war to other areas of conflict within developed societies, such as commerce and politics: is a conflict of great interests which is settled by bloodshed, and only in that is it different from others.2That economic performance can determine military power seems at first glance a given: stronger economy, greater military power; and weaker economy, weaker military power. Two examples from last century illustrate point: U.S. defeat of Hitler's Germany and collapse of Soviet Union.In wishful thinking of Hermann Goering, Nazi Germany's Air Marshall and war economy czar, United States was not much of a military as its economy in 1941 was capable of producing little more than refrigerators and razor blades. He estimated U.S. aircraft production at only one third of what it actually produced in first year of war.3 Goering and Adolf Hitler over-estimated Germany's potential economic performance and under-estimated that of its opponents. United States quickly ramped up production and became so-called arsenal of democracy, arming its allies while giving its own forces an overwhelming advantage in weaponry and supplies.Ronald Reagan may have depicted an evil empire that threatened world, but Soviet Union was by 1980s in deep economic trouble. Shackled by central planning, burdened by huge inefficiencies, suffering revenue declines as resource prices plumbed new depths, Soviet economy was at most a third4 of size of U.S. economy and supported a bigger population in which life expectancy was declining and child mortality rising.5 As Soviet Foreign Minister Eduard Shevardnadze noted, Soviet Union could no longer afford Cold War: By remaining stuck in old positions, we would never stop arms race, which was bleeding our already anemic country.6 Soviet economy ailed at a time of big advances in computerization and industrial productivity that left Communist world behind. This threatened Soviet military power because Western superiority manifested itself in development of whole weapons systems that outclassed anything Communist world could produce.Some argue that an appreciation of linkage between economic performance and power has long been fundamental for U.S. leaders. Alexander Hamilton, first U.S. Treasury Secretary, urged President George Washington to cherish credit as a means of strength and security.7 It was this link that Republican presidential candidate Mitt Romney raised in his third debate with President Barack Obama. In order to be able to fulfill our role in world, must be strong, Romney said. America must lead, and for that to happen, we have to strengthen our economy here at home.8 Romney noted that Admiral Michael Mullen, Chairman of Joint Chiefs of Staff, had described U.S. debt burden as the single biggest threat to U.S. security and that its enemies had noticed America's economic problems. How long can a government with a $16 trillion foreign debt remain a world power? Iranian President Mahmoud Ahmadinejad asked. The Americans have injected their paper wealth into world economy and today aftermaths and negative effects of their pseudo-wealth have plagued them.9But relationship between economics and security is not as obvious as these statements imply - and that is particularly true in today's economic and security context. …" @default.
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• W273926850 date "2013-03-01" @default.
• W273926850 modified "2023-09-27" @default.
• W273926850 title "The Uneasy Relationship between Economics and Security" @default.
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