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Based on a decade-long study, this timely text uses a wide range of economic models to explore the global, national, and local effects of military disarmament. The authors review the international literature of disarmament and conversion induced by the end of the Cold War and compare the results to the findings on Norway. Claims about the improvement of welfare, development, and the environment--which are to be funded by peace dividends--are examined, in addition to the warnings that militarized economies will collapse as a result of disarmament. 'The Wages of Peace is a slim book that many readers should find stimulating and useful. It is broad in scope, reviewing much international literature, yet it stays highly focused on Norway. . . . There are also ample tables and figures, although the mathematics stays in the background in the form of a brief nine-page appendix. A good work, many readers will find The Wages of Peace though provoking and satisfying.' --Mershon International Studies Review
