Revisiting National Security and Economic Growth in the Context of Rising Military Spending

Title

Revisiting National Security and Economic Growth in the Context of Rising Military Spending

Creator

Joseph, Jipson

Description

Military spending has increased substantially across the globe over the last few decades. The Stockholm International Peace Research Institute (SIPRI) states that the 2024 global military expenditure accounted for almost 2.5% of the global GDP. All regions of the globe have increased their military spending regardless of the difference between developed and developing countries. The NATO members determined to increase their military spending to 5% of the GDP by 2035. It will force other nations to also engage in the battle of spending more on the military. Although the military spending is increased on the grounds of national security, it puts forward only a restrictive vision without prioritizing the people's genuine concerns, interests, and security. A people- centered understanding of national security is essential for guaranteeing a sustainable future that allocates the benefits of economic growth for people's well- being and societal welfare. This chapter, thus, critically examines the rising military expenditure in the context of national security and economic growth. 2026, IGI Global Scientific Publishing. All rights reserved.

Source

Impacts of Military Spending on Economic Growth;pp.239-264

Date

01-01-2025

Publisher

IGI Global

Coverage

Joseph J., Christ University, Bengaluru, India

Rights

Restricted Access; Hardcopy may be available in the library

Relation

ISBN: 979-833733458-5; 979-833733456-1;

Format

online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.4018/979-8-3373-3456-1.ch008

https://www.scopus.com/pages/publications/105019013247?origin=resultslist