Thomas E. Woods, author of Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse, discusses Seymour Melman‘s [.pdf] research into the societal repercussions of a military economy, the diversion of research scientists from the private sector to Cold War military programs, the transformation of the U.S. university system into a DOD jobs program and the corruption of defense contractors into companies that can’t compete in a free market.
MP3 here. (22:11)
Thomas E. Woods, Jr., is the New York Times bestselling author of nine books. A senior fellow at the Ludwig von Mises Institute, Woods holds a bachelor’s degree in history from Harvard and his master’s, M.Phil., and Ph.D. from Columbia University.