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| 1 |
ID:
128654
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| Publication |
2013.
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| Summary/Abstract |
In the third of his articles on the finances of defence, the author examines the controversial subject of defence inflation, and the apparently increased cost of replacing equipment with a new generation. In analysing the figures more deeply than is customary against a rather broader context he arrives at some surprising and even perhaps encouraging conclusions.
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| 2 |
ID:
144151
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| Summary/Abstract |
Defence inflation is a recurring factor in determining defence spending. It is widely reported in official government publications and in the trade press, but remains relatively neglected by defence and peace economists. There is a need for more in-depth economic analysis and critical evaluation.
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| 3 |
ID:
128681
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| Publication |
2013.
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| Summary/Abstract |
in the final article of his series, the author reflects on the results of his research and concludes that the fundamental cause of the seeming shrinkage in the size of the Royal Navy in not so much the reductions in the defence budget, nor even directly the cost of individual ships, but rather a shift, whether or not international and justified, in the strategic priority, accorded to the navy. If he is correct, than the solution must also lie in the realm of real strategic thought rather than in the 'tweaking' of budgets.
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| 4 |
ID:
144153
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| Summary/Abstract |
The UK experience with defence inflation and cost escalation is described and analysed. Evidence is presented and policy solutions are reviewed. Optimism bias is a source of cost escalation and this bias is analysed with game theory and public choice models. The key facts remain, namely, that defence inflation exceeds the GDP deflator, and despite various reforms, cost escalation continues.
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