After the end of the Cold War, the world has experienced a more mono-polar power structure. In contrast to promises of a peaceful `one' world, this seems not to have provided more international justice and security, nor reduced international conflict. Defense-related issues, long given minor attention in economics, have surfaced rather as a central mechanism in the current stage of globalization. Increase in military expenditures, the multiplication of wars, new generations of sophisticated weapons, and increased interest for defense stocks at the financial markets, indicate that a new type of relation between defense and economy has set in. The papers presented here investigate on what economics has to say on conflict, war, and terrorism today, a selection of sophisticated economic analyses of the theoretical and applied industrial, macroeconomic, fiscal-policy, financial market, regional, and alternative policies dimensions. Here, modern economics has a considerable and critical contribution to make.
Dr. Wolfram Elsner is Full Professor of Economics, Structural Research and Economic Policy, in the Faculty of Economics and Business Studies, Institute for Institutional and Socio-Economics (iiso), at the University of Bremen, Germany. He was head of the Planning Division of the Ministry of Economic Affairs of the State of Bremen, Director of the Bremen State Economic Research Institute, and Bremen State Official for Industrial Defense Conversion, 1989 - 2001. He has been the chair of the German chapter of Economists Allied for Arms Reduction (ECAAR) since 2003 and is a member of the editorial and advisory boards of several international journals, including the Economics of Peace and Security Journal (EPSJ). He has organized the Joint Seminars of the European Association for Evolutionary Political Economy (EAEPE) and ECAAR/EPS (Economists for Peace and Security).