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The War Economy

By
Grace Blakeley

One of the few policy innovations of the current Labour government is a turn towards rearmament under a new ‘military Keynesianism’. This means more profits for weapons manufacturers — and more authority for capitalist states.

Two people standing in front of a conveyor belt, one emptying his pockets on to the belt, while the other is picking up a golden rifle made from the raw materials.

(Illustration by Simon Bailly / Sepia)

The state is back, and it’s building guns. With the Trump administration railing against European ‘freeloading’ on US military spending, European politicians have announced plans to spend billions on rearmament. The US economy has taken a beating as the tech bubble has burst and Trump’s tariffs have raised the spectre of slower growth and higher […]

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