Guns and Bombs

From the Wall Street Journal, 6/21/10. World governments are spending more on guns and bombs than ever. Global military expenditures in 2009 topped $1.53 trillion—2.7% of global GDP, up 6% in real terms from 2008 and 49% since 2000. The U.S. spent $661 billion—4.3% of GDP, accounting for 43% of the world total. China followed with an estimated $100 billion—2% of GDP and 217% more than 2000.

Just under 5% of the world’s pop and 43% of the world’s military expenditures.

And the China stat of recent days. Every six hours China exports more than it did in all of 1978 (Marginal Revolution-blog).

1 thought on “Guns and Bombs

  1. Professor Byrnes,

    It’s an incredibly different world than you, your brothers and sister grew up in!

    Kinda scary as one gets older and starts seeing the “entire scheme” of things.

    Keep up the great work!

    My love and best wishes to all,

    Brother Don

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