As the risk of conflict between the major military alliances diminishes, the prospects for disarmament improve. This book asks whether the defence industry can develop new products to maintain their workforce and looks at the socio-economic cost of diverting funds to civilian production.

From a cold war peak of some $1000 billion per annum, world military expenditure has declined by about 40% since 1990, reaching its lowest level for thirty years. With such significant decline in global public expenditure committments to the defence sector, a substantial and lasting peace dividend was anticipated. Most governments believed that market forces, left more or less to their own devices, would deal effectively with this major exogenous shock and generate sufficient new economic activity to allow increased public expenditure on health, education and welfare. The approach of this book is to challenge the fundamental but flawed belief that a substantial and lasting peace dividend could be secured through market solution alone. The principal assertion is that market adjustment by itself cannot deliver such a dividend.The book focuses on the major aspects of the economic, business and security consequences of post Cold War defence expenditure reduction. Key problems obstructing optimal market response are identified and possible remedial action by government and others is considered.

This book provides an empirical understanding of how EU-level defence industrial cooperation functions in practice. Using the Liberal Intergovernmental theoretical model, the book argues that while national economic preferences are an essential factor of government interests they only explain part of the dynamic that leads to the development of defence industrial policy at EU level. Moving beyond a simple adumbration of economic preferences, it shows how the EU’s institutional framework and corpus of law are used by governments to reaffirm their position as the ultimate arbiter and promoter of national economic preferences in the defence industrial sector. To this end, the work asks why and how EU member state governments, European defence firms, and EU institutions developed EU-level defence industrial policy between 2003 and 2009. The book also analyses significant policy developments, including the establishment of a European Defence Agency and two EU Directives on equipment transfers and defence procurement. This book will be of much interest to students of EU policy, defence studies, security studies and International Relations in general.

This report is the result of an extensive study that was undertaken to review the existing policy context of Ministry of Defence (MOD) disposals in England, and to advise Government on how it should seek to obtain value for money whilst having regard to the wider interest of Government. The research process involved five main areas of work - a literature search, a review of all relevant policy guidance, interviews and written consultations, seminars for property professionals and nine detailed case studies.

This volume provides a policy-relevant analysis of the complex web of contemporary economic trends, political developments and strategic considerations that are shaping the contours of the new post-Cold War world market for weaponry.

This text discusses the economic, social and political implications of redirecting labour and capital from a military-based to a post-Cold War economy.

Introduces the reader to works in the Wallace Collection through the voice of its Director.