Farewell To The Welfare State? Not Just Yet
Maybe you recall all the post–Cold War talk of a “peace dividend” and maybe you don’t: It depends on when you took up residence on this mortal coil. The term arose as the Soviet Union disintegrated and was commonly mentioned during George H.W. Bush’s presidency, 1989–1993. A dramatic reduction in defense spending, and a corresponding increase in expenditures on education, health care, and so on, was put around as one of Bush I’s outstanding achievements. That was the peace dividend. The thing you need to know about all the talk of a peace dividend back then is that it was all talk. And the thing you need to know now, with Cold War II in more or less full swing and the proxy war against Russia raging in Ukraine, is that there is no longer any need to know anything about the peace dividend.