Opinion
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Letters to the Editor
`Economics of war'
Sir, - In ``The economics of war'' (Dec. 25), Mr. M. Naganathan argues that the escalation of the defence budget will slow down the globalisation process and intensify the recessionary tendencies.
Apart from the fact that globalisation has brought but little benefit to developing countries, wishing for enduring peace in the midst of hawks represents a warped mindset. Recorded history bears abundant evidence to the turmoils, conflicts and war which have remained quite inseparable.
War does not mean less growth; On the contrary, it creates its own employment and resources. A U.S. Congressional report cited in The New York Times of August 20, 2001 states that international arms sales rose 13 per cent last year to nearly $ 36.9 billion with U.S. manufacturers signing contracts for about half of all weapons sold in the world market. Developing countries such as ours have also placed orders.
Like all others, we may also speak of peace while building up our defence.
K. Ramamurthi,
Chennai
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