Dollars and Sense: Military Spending During an Economic Downturn

The relationship between military spending and GDP growth in peacetime seems an easy equation. When a country’s economy is healthy and growing, it can splurge on fancy new equipment and a larger standing army. When growth has slumped and government revenues decline, that country should tighten its belt and focus ...

Russia's Determination to Revise the Post-Cold War Order

The Russian economy has been in recession for nearly two years now, with GDP growth shrinking by 3.7 percent in 2015. However, as the recession continues and persistent low oil prices cut government revenues to the bone, military spending has remained almost immune to cuts, and the country has undertaken ...

Saudi Foreign Policy vs. Economic Priorities

How steady are the hands on the steering wheel of Saudi Arabia?  That question prompts an immediate follow-on: Whose hands are we talking about?  There seem to be too many. Notionally, the kingdom is being directed by King Salman, but he is 80 years old and suffering from the physical and ...