June, 2014

The Case Against a U.S.-Arms Monopoly

  • Christopher Coyne

    Associate Director, F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics
  • Abigail Hall

    Assistant Professor of Economics, University of Tampa
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Find the article at SpringerLink.

The U.S. government is the dominant player in the global arms market. Existing literature emphasizes the many benefits of an international U.S. government arms monopoly including: regional and global balance, stability and security, the advancement of U.S. national interests, and domestic economic benefits from international sales. The purpose of this paper is to balance this largely one-sided treatment of the U.S. government’s dominant position in the international arms market. We discuss several negative consequences and costs associated with U.S. arms sales which call into question the net benefit of the U.S. government’s control over global arms.