"The fate of the US aerospace industry is a national security issue that should be determined by the president of the United States in partnership with the US Congress. Working together, the president and Congress should decide whether the US government will proactively engage in preservation of the industry or whether free-market forces will be allowed to decide the outcome of this historically critical element of the US economy and defense establishment. In the wake of the 2008-2009 economic crises, the two most recent US presidential administrations, in partnership with the US Congress, have provided significant financial bailouts to two very different, but fundamental elements of the US economy-the banking community and the auto manufacturing industry. Clearly, President Bush and his successor, President Obama, as well as their partners in the US Congress concluded that these bailouts were necessary to support the economic well-being of the country and therefore the national security of the United States. It is time for the aerospace industry to be considered part of the conversation also."--Abstract from web site.

The US and international defense industrial sectors have faced many challenges over the last twenty years, including cycles of growth and shrinkage in defense budgets, shifts in strategic defense priorities, and macroeconomic volatility. In the current environment, the defense sector faces a combination of these challenges and must struggle with the need to maintain critical aspects of the defense industrial base as defense priorities change and as defense budgets reduce or plateau. Moreover, the defense sector in the US is interconnected both with defense sectors in other countries and with other industry sectors in the US and global economies. As a result, strategic decisions made in one defense sector impact the defense sectors of other countries, as well as other areas of the economy. Given her academic, corporate, and Department of Defense experience as a leading economist and policy-maker, Dr. Nayantara Hensel is perfectly positioned to examine the interrelationship between these forces both historically and in the current environment, and to assess the implications for the future global defense industrial base.