Economic and military strength have long been regarded as having a correlation with each other, but what is the mutual relationship between a country’s economy and its military? In this blog post I will be diving into what kind of correlation exists between a country’s economy and military strength, and how these two aspects of a country influence each other.
The first relation that is present between a country’s economy and its military is the budget that the military is constrained too. For example, if a country’s economy were smaller, less money would be able to be spent on developing its military(3). Although i have discussed how a country’s economy can influence its military, a country’s military can also affect its own economy in many ways. For example, an increase in the power of a country’s military would cause other countries to view that county as a safer country, a country’s military can also allow access to better trade deals and defensive pact as a stronger military is more appealing to country’s searching for defensive pacts(1). Furthermore, a country with strong military will also have a more stable currency, for example, the USA has one of the strongest economies and military, its currency the american dollar is the reserve currency for most off the countries in the world. Although the USA is a strong country, why do many country’s trust its currency to remain stable? It’s due to how powerful the Usa’s military and economy is, the state of a country’s currency is dependant on many factors such as geopolitical tensions(war, defense pacts, etc), state of its economy and military(2). If a country wanted to use another country’s currency as its reserve currency it would want that countries currency to be stable and backed by a powerful government. A country’s military influences its currency due to the power projection coming from the military, nations will view the currency as stable since it is backed by a strong military which can coup any destabilizations (4). Finally, one other aspect of a country’s military and its correlation with its economy is the amount of jobs it adds to the economy. A strong military requires soldiers who have to be paid, thus increasing the number of jobs in the labor market; an increase in the number of jobs results in a more developed and stronger economy since it provides citizens with stable income. For example, the United States of America’s military provided jobs to those whom lost their jobs due to economic factors such as the decreasing job market (5).
In conclusion, the
1.)5 Factors That Influence Exchange Rates (investopedia.com)
2.)Dollars and Dominance: How Military Strength Secures Financial Power | Columbia Business School
3.)how Military Spending Affects the Economy (investopedia.com)
Economic and Labor Market Data | U.S. Department of Labor (dol.gov)
Hello Andre,
I am very interested in the interplay of economy and military strength. The biggest stand-out to me is how an increase in the power of a country’s military would cause other countries to view that county as a safer country. This is interesting because looking at some of these militarily strong countries from more nuanced perspectives would make one rethink this loose prerequisite. I would love to see you talk about how specific countries put on the facade of being safe/secure, simply for the reason that they have a strong military. For instance, how have these countries historically fought wars, and effectively used their power in ways that could have been less destructive? Stellar topic, and I cannot wait to read your next post!
Below I have listed some helpful resources:
https://pmc.ncbi.nlm.nih.gov/articles/PMC2636235/
https://www.quora.com/How-can-a-countrys-military-control-its-national-politics
https://www.tutorchase.com/answers/ib/geography/what-is-the-role-of-military-strength-in-global-power
-Ava
Hello Andre,
Your blog post really dives in on the important relationship between a country’s economic and military strength. I really appreciate how you break down the mutual influence between these two aspects, showing not just how a strong economy supports military development, but also how military power can enhance economic stability and international trust. It would be really helpful when you present, to highlight the military’s role in job creation and how it affects the economy!
I look forward to hearing your presentation!
~Amy
Greetings Andre,
You were specially great, when you included a Butterfly effect to explain the many varied relationships formed, because of Military to economy and ultimately Economy to military; as cycle.
You demonstrated the little effects Military ends up in economy, from how they make more jobs, make more. production, and allow an economy to gain influential strength. Usually, we skip those facts, but this description made clear how politics in a country are structured.