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Rent seeking and defence expenditure

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  • Philip Jones

Abstract

A plethora of arguments from the 'public choice school' suggest that public goods are 'under-supplied' by comparison with public sector provision of more private goods. The implication is that rent seeking by the 'military-industrial complex' serves, in some measure, to offset potential allocative inefficiency. In this paper a comparison of rent seeking by producers of public goods and producers of private goods identifies a bias that favours public good supply. The bias results from the different way in which collective demand for public goods and for private goods is expressed. The prospect of larger rents to the 'military-industrial complex' implies greater rent-seeking expenditures in this sector. The extent to which public goods (and, in particular, defence) are 'under supplied' is much exaggerated.

Suggested Citation

  • Philip Jones, 1999. "Rent seeking and defence expenditure," Defence and Peace Economics, Taylor & Francis Journals, vol. 10(2), pages 171-190.
    • Handle: RePEc:taf:defpea:v:10:y:1999:i:2:p:171-190
    DOI: 10.1080/10430719908404922
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    References listed on IDEAS

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    1. Anthony Downs, 1957. "An Economic Theory of Political Action in a Democracy," Journal of Political Economy, University of Chicago Press, vol. 65, pages 135-135.
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    Cited by:

    1. Philip Jones, 2007. "Colluding victims: A public choice analysis of international alliances," Public Choice, Springer, vol. 132(3), pages 319-332, September.
    2. Bernhard Klingen, 2011. "A Public Choice Perspective on Defense and Alliance Policy," Chapters, in: Christopher J. Coyne & Rachel L. Mathers (ed.), The Handbook on the Political Economy of War, chapter 17, Edward Elgar Publishing.
    3. Christos Kollias & Suzanna-Maria Paleologou, 2019. "Military spending, economic growth and investment: a disaggregated analysis by income group," Empirical Economics, Springer, vol. 56(3), pages 935-958, March.
    4. Marcus Matthias Keupp, 2021. "Institutions and Armed Forces," Springer Books, in: Defense Economics, chapter 0, pages 23-65, Springer.

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