This volume brings together leading scholars from the U.S., Europe and Asia in search of new perspectives on and answers to questions about how a country’s defense burden might affect welfare provision and economic growth, and vice versa. The essays examine and compare the historical experiences of a variety of developed and developing countries and include analyses of: - the link between defense spending and economic performance in the United States - the causes of Britain’s relative decline - the institutional setting for Japan’s pursuit of comprehensive national security - the influence of military spending on the developmental progress of Asia’s newly industrializing countries - the patterns of business cycles and military hostility in the Middle East. The contributors offer new insights and often surprising findings regarding the relationship between defense burden and political economy. The essays are therefore highly pertinent to the ongoing scholarly and policy debates about the process of a peace dividend in the wake of the Cold War s demise.