ABSTRACT

This paper aims to contribute to the theoretical discussions on the effect of military spending on the economy. To this end, it first modifies the circuit of capital model proposed by Duncan Foley in 1982, which represents money value stock-flow relations for capital in Capital Volume II. Foley’s model is extremely useful for examining the relationship between military spending and the rates of profit as it allows one to specify the parameters in both the military and civilian sectors. By incorporating the military sector, the adapted model shows that a larger military sector is associated with a higher rate of profit. Second, the paper provides some empirical evidence on the US for 1968–2008 for the main proposition of the theoretical model.

摘要

本文旨在为军费开支对经济影响的理论讨论做出贡献。为此，它首先对Duncan Foley 1982年提出的资本循环模型进行了修改，该模型代表了《资本论》第二卷中资本的货币价值存量-流动关系。Foley 的模型对于检查军费开支与利润率之间的关系非常有用，因为它允许人们指定军事和民用部门的参数。通过合并军事部门，调整后的模型表明，更大的军事部门与更高的利润率相关。其次，本文为理论模型的主要命题提供了一些关于美国 1968-2008 年的经验证据。