The economics of UK nuclear weapons policy

Bibliographic Data

ID9896097
AuthorsKeith Hartley (Institute for Conflict Research, corresponding author)
Year2006
Volume82
Issue4
Pages675-684
Publication date2006-07-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueInternational Affairs (JOURNAL)
Journal identifiersISSN: 0020-5850 • E-ISSN: 1468-2346
PublisherOxford University Press (OUP) (PUBLISHER)
DOI10.1111/j.1468-2346.2006.00562.x
OpenAlexW1978546776
LanguageEN
Citations received2

The Trident replacement decision has an economic aspect that cannot be ignored, namely, its costs. This article presents a cost-benefit framework for assessing the replacement decision and its alternatives. The replacement decision is presented against the background of the defence economics problem showing the opportunities for substitution and the need for difficult defence choices in a world of uncertainty. A framework for choices is outlined showing the range and type of information needed for sensible decision-making in this area. A range of conventional force alternatives is estimated as well as alternative civil spending. The impact of the replacement decision on the UK submarine industrial base is assessed, including the challenges of reaching a partnering agreement and negotiating an incentive contract with a UK monopoly supplier. The cost figures used for the Trident replacement are illustrative only and show how the programme can be evaluated

Business · Economics · Incentive · Industrial organization · Market economy · Microeconomics · Monopoly · Negotiation · Operations management · Operations research · Political science · Public economics · Subsidy · Trident · Defense, Military, and Policy Studies · Engineering