Dismantling the Cold War Economy

For almost five decades the United States spent trillions of dollars in waging the Cold War. It is now apparent that that effort has created serious structural problems and distortions. While U.S. industry can produce Stealth bombers, it can no longer manufacture cameras, VCRs, TVs and many other consumer items. Pentagon-driven priorities have drained and weakened the economy thus compromising America’s ability to compete effectively in the world market. How to transform the military economy? What is conversion and how will it work? Lecture. Interview by David Barsamian.