Revisiting National Security and Economic Growth in the Context of Rising Military Spending
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.
creator: Joseph, Jipson
source: Impacts of Military Spending on Economic Growth;pp.239-264
publisher: IGI Global
date: 01-01-2025
rights: Restricted Access; Hardcopy may be available in the library
relation: ISBN: 979-833733458-5; 979-833733456-1;
language: English
type: Book chapter
coverage: Joseph J., Christ University, Bengaluru, India