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Military Expenditure and the Restructuring of Capitalism: The Military Industry in Britain

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  • Lovering, John

Abstract

The character of the British defence industry since the 1940s has reflected a regime of accumulation which was shaped by both "Fordism" and the "Cold War." The decline of both these influences means that the political economy of defence spending and the internal organization of the defence industry are changing. While the "outbreak of peace" in Europe should lead to some reduction in defence spending on Cold War items, the world's arms industry is not about to disappear. The global arms industry remains huge and is increasing beyond the control of individual national governments. The concentration of capital and intensified search for markets is likely to increase the volatility of the industry, and affect individual companies and nations with varying results. Britain may remain disproportionately important in the new military economy. Copyright 1990 by Oxford University Press.

Suggested Citation

  • Lovering, John, 1990. "Military Expenditure and the Restructuring of Capitalism: The Military Industry in Britain," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 14(4), pages 453-467, December.
    • Handle: RePEc:oup:cambje:v:14:y:1990:i:4:p:453-67
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    Cited by:

    1. John Finch, 1993. "Company-led strategies in defence sector restructuring: Implications for local economic development," Local Economy, London South Bank University, vol. 7(4), pages 334-346, February.
    2. P J Dunham, 1997. "Reconceptualising Manufacturing—Service Linkages: A Realist Approach," Environment and Planning A, , vol. 29(2), pages 349-364, February.
    3. Azulay, Israel & Lerner, Miri & Tishler, Asher, 2002. "Converting military technology through corporate entrepreneurship," Research Policy, Elsevier, vol. 31(3), pages 419-435, March.
    4. Andy Danford & Mike Richardson & Martin Upchurch, 2002. "Trade Union Strategy and Renewal: the Restructuring of Work and Work Relations in the UK Aerospace Industry," Work, Employment & Society, British Sociological Association, vol. 16(2), pages 305-327, June.

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