The
Cash Nexus: Money and Power
in
the Modern World, 1700-2000 by Niall Ferguson
Money makes the world go around, Of that we can be
sure. (....) on being poor.
(Cabaret,
2002)
Conventional wisdom has long claimed that
economic change is the prime mover of political change, whether in the age of
industry or Internet. But is it?
Ferguson thinks it is high time we re-examined
the link-the nexus, in Thomas Carlyle's phrase-between economics and politics.
His central argument is that the conflicting impulses of sex, violence, and
power are together more powerful than money.
A bold synthesis of political history and modern economic theory, Cash Nexus will transform the landscape of modern history and draw challenging conclusions about the prospects of both capitalism and democracy.
Among Ferguson's startling claims
are:
- Nothing
has done more to transform the world economy than war, yet wars themselves do
not have primarily economic causes.
- The present age of economic globalization is coinciding-paradoxically-with political and
military fragmentation.
- Financial crises are frequently caused by
unforeseen political events rather than economic fluctuations.
- The relationship between prosperity and
government popularity is largely illusory.
- Since political and economic liberalization are
not self-perpetuating, the so-called triumph of democracy worldwide may be
short-lived.
http://newsinfo.inquirer.net/958202/worlds-biggest-military-spenders
FACTS AND FIGURES
Parabellum
issues_ the states war on cash
1. ORAL task -groups (2-3)
War expenditures 2007-16
GDP = global gross domestic (= PIB!)
World military expenditure is estimated to have
been ...
- $1686 billion in 2016,
- equivalent to 2.2 per cent of the GDP or
- to make sense of the figures $6 per person.
After 10
consecutive years (from 2007 to 2016), world military spending has continued to
upsurge with a minor plateau and slight increases in 2015 and 2016.
The top 15 countries with the highest military
spending in 2016 were the same as those in 2015, although there were some
changes in their ranking.
The 15 largest spenders account for
- the staggering
sum of $1360 billion, or
- just above four fifths of total global spending.
Between 2007 and
2016, China has seen the biggest
growth in military spending, with an increase of more than doubled it, followed
by Russia which didn't double it and India with just a 50%. In the
European NATO states, there are foru
countries in the middle of the table. France, the top military spender and the
sixth in the world, spend 55 billion dollars followed by the UK and close by
Germany and also Italy (ninth position with half of French
budget). Germany raised its military spending by just the 7 per cent to 41
billion dollars in 2016 (the hishest in this group) with a GDP of 1.2 per
capita, half the level of France.
In the same period, two European countries shrank
Italy (one in sixth), the United Kingdom (one in seventh) and surprisingly the
United States with half a minor variation were the only three countries in the
top 15 to see their military expenditure fall.
In 2016, total US military expenditure of past
$600 billion is over one-third of world military expenditure. This is
nearly three times the level of China’s spending, which is ranked second. US
military spending grew slightly by a mere 1.7 per cent between 2015 and
2016. Despite this slight growth, US military spending remains 20 per cent
lower than its peak in 2010.
DRAW CONCLUSIONS:
The small
/large upturn in 2016 can be attributed to ......
- legislation --- budget limits
--- Global events??
- context of the presidential
election ??
- inability of the Government
to reach agreement ??
- ......
2. Reading task
PART II.
SIPRI FACTS AND FIGURES
The SIPRI Military Expenditure Database contains
consistent time series on the military spending of countries for the period
1949–2016.Military expenditure in local currency at current
prices is presented according to both the financial year of each
country and according to calendar year, calculated on the assumption that,
where financial years do not correspond to calendar years, spending is
distributed evenly through the year. Figures in constant (2015) and current US
$, as a share of GDP and per capita are presented according to calendar year.
Figures as a share of government expenditure are presented according to
financial year.
Pdf files:
piece 1_ 10 Feb 2020 - NY TIMES - link
