Why Did the United States Continue to Spend So Much

question 67

Essay

Why did the United States continue to spend so much on defense even after the end of the Cold War? In what ways was this strategy effective, and in what ways was it ineffective?
Ideal

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Definitions:

Economic Variables

Quantitative measures that represent a characteristic of the economy or a part of the economy, influencing or describing economic activity.

Positive Economic Analysis

An objective approach to economics that focuses on describing and explaining economic phenomena without making normative judgments.

Fallacy of Composition

Erroneous view that what is true for the individual (or the part) will also be true for the group (or the whole).

Association

An organization or group of individuals who voluntarily come together to achieve common goals, often representing a profession, industry, or interest.