DEFENSE SPENDING IN THE CONTEXT OF ECONOMIC HARDSHIP

At a time when a deep economic recession is causing much turbulence in our global community there are some countries eager to increase their military might. Defense spending has a tendency to rise during times of economic hardship. Both geopolitical hostilities and domestic violence tend to flare up during downturns. Poverty is one of the main issues that fuel violence. How is peace or violence profitable? Or what is "peace industry" and how can it contribute to social welfare during economic recessions? These are questions to be answered considering nowadays economic downturn that preoccupy all the nations across the world.