Peace is Bad Business

No surprise in this finding by Stockholm International Peace Research Institute: Global sales of arms and military services by the 100 largest defense contractors increased in 2010 to $411.1 billion. In a recently published annual report of the institute, it noted that total arms sales of the 100 largest arms manufacturers have increased 60% since 2002. During the recent waves of financial crises, the industry leaders were generally spared from the financial wrath that hit and caused many industries to suffer. According to SIPRI arms industry expert Susan Jackson, when sales did drop, it was due to “the withdrawal of foreign troops from Iraq and the subsequent expected decrease in related equipment sales.”

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