ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Defence Expenditure A Growth Stimulant

the return is right. Live and let live, the Levanters do not protest when their land is used for mounting border operations against Israel, or when Beirut's airport is taken over by this or that group of Arab commandos, or when, in retaliation, Israeli planes demolish a few hundred old souks and a few thousand grazing sheep along their northern tracts. In any case, the poor who die or are rendered destitute by these raids do not matter very much; they never mattered in any century. On the other hand, you are well compensated for these embarrassments. There is a shining new Sheraton Hotel which has just conic; up in Beirut's city centre and must represent some substantial portfolio of second-order Jewish investment: much Rothschild and Warburg money, scrupulously laundered, must be servicing Lebanon's annual invisible earnings, running into close to a couple of billion dollars; the Playboy Club, another quasi-Jewish enterprise trading in human female flesh, exposes RISING defence spending by governments in many developing countries (LDCs) is a fact of life. So is their underdevelopment. Historically, a major factor restraining growth in LDCs has been the paucity of financial and physical investible resources. Putting these premises together, one would conclude that LDCs could have attained higher growth rates hail they contained their defence expenditure.

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