Council member Jan Toporowski writes for the Insitute of Economic Thinking on the implication of the West supplying arms for the Ukraine war
“… weapons producers want governments to underwrite the profitability of their investments. This is precisely the alliance between industry and the state that formed the basis of the military Keynesianism that Michal Kalecki criticized during the 1950s. He showed how, at the height of the Cold War, Western governments subsidized private capital with arms contracts paid for by taxpayers.”
photo flickr
