Vol. 17 No. 1 (2022)

This issue commences with Christopher Coyne and Nathan Goodman exploring the symbiotic relationship between U.S. border militarization and foreign policy. Christos Kollias and Panayiotis Tzeremes examine the economic effects of defense spending and, perhaps surprisingly, find no systematic and statistically significant relation between a country’s militarization levels and two main macroeconomic variables (growth rate of GDP and gross fixed capital formation as a share of GDP). Keith Hartley examines how Augustine weapons systems mean difficult choices for the United Kingdom and similar states, such as whether to reduce defense capability, import costly equipment, increase collaboration, and/or fund real-term defense budget growth. Raul Caruso and Anna Balestra examine the impact of EDUMILEX, namely the ratio between investment in education and military expenditure, on economic performance. Their findings suggest the existence of a non-linear, cubic relationship between EDUMILEX and economic performance.