The Neglected Costs of the Warfare State

Tom Woods in a new paper (pdf) revives the work of Seymour Melman on the hidden costs of war. Writes Woods:

Perhaps no scholar has applied [Frederic] Bastiat’s insights to military expenditures with more persistence and rigor than Seymour Melman (1917-2004). Melman was a professor of industrial engineering and operations research at Columbia University. In a scholarly career that yielded a great many books and articles, he focused much of his energy on the economics of the warfare and military-oriented state.

For an energized presentation of Melman's views listen to Scott Horton's interview of Woods.