The Permanent War Economy and Deindustrialization

(Image: Detroit, Michigan, the former centre of America’s auto industry. Source) Politicians of all political stripes like to dress inflated military budgets, and the wicked arms deals that frequently accompany them, in terms of “job creation.” Former U.S. Defense Secretary Leon Panetta, arguing against any reduction in military funding, claimed that any decrease “would result in job cuts that would add potentially 1 (percentage point) to the national unemployment rate.”[1] Here in Canada, both Stephen Harper and his Liberal counterpart Justin Trudeau have justified the $15 billion arms deal with Saudi Arabia,… Read More