Tom Woods is Golden

Tom Woods wrote a great article called “The Neglected Costs of the Warfare State: An Austrian Tribute to Seymour Melman,” which delineates some of the incredible spending policies of our military corporatist state.  If you’ve ever been in a debate with an economics professor about all the innovation the government has given us you may want to read this.

Woods note, among other interesting points, that it costs about $5 to $7 million to train a single combat pilot:  “Over a period of two years, the average U.S. motorist uses about as much fuel as does a single F-16 training jet in less than an hour.  The Abrams tank uses up 3.8 gallons of fuel to travel a single mile.”

Tom Woods quotes Melman, writing “the budget of the U.S. Department of Defense each year exceeds the net profits of all U.S. corporations.”  To check out the whole article just go here.

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