Edward Conard

Top Ten New York Times Bestselling Author

  • “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
  • “…a very valuable contribution.” - Larry Summers, former Secretary of the Treasury and director of the National Economic Council, president emeritus, Harvard University
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
  • “There are an amazing number of good ideas and interesting points made in Unintended Consequences. The thinking underlying it, and the obvious depth of understanding of the author, are very impressive.” - Steven Levitt, coauthor of Freakonomics; 2004 John Bates Clark Medal
  • “Unintended Consequences is far smarter and more thought-provoking than most economics written for the general public” - Greg Mankiw, Harvard University, Former Chairman of the Council of Economic Advisors
  • “Unintended Consequences represents the most cogent and persuasive analysis of the Financial Crisis to date.” - Andrei Shleifer, 1999 John Bates Clark Medal Winner
  • “Unintended Consequences should be read by anyone who takes for granted the superiority of progressive taxation and has not thought carefully about the trade-offs involved.” - The New Republic
  • “…a very valuable contribution.” - Larry Summers, former Secretary of the Treasury and director of the National Economic Council, president emeritus, Harvard University
  • “Unintended Consequences provides a provocative interpretation of the causes of the global financial crisis and the policies needed to return to rapid growth. Whether you agree or not, this analysis is well worth reading.” - Nouriel Roubini, New York University; Chairman, Roubini Global Economics
  • “…a must-read for serious students of economic policy.” - Glenn Hubbard, Dean, Columbia Business School, and former Chairman of the Council of Economic Advisers
  • “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
Upside of Inequality Oxford Unintended Consequences

AI Summary. A U.S. Army Science Board report warned that the American industrial base may be incapable of meeting the munitions demand created by a potential future conflict with a peer adversary. Much of the reduction in U.S. arms-manufacturing capacity was deliberate, following the collapse of the Soviet Union and the end of the Cold War.

Mark Bowden The Atlantic
Date Posted:

Mark Bowden documents the decline of the US defense industrial base as the country cashed the post-Cold War peace dividend, noting “much of the reduction in America’s arms-manufacturing capacity was deliberate.”

Can the U.S. industrial base meet wartime munitions demand?

Core argument: The U.S. Army Science Board warned in 2023 that the American industrial base "may be incapable of meeting the munitions demand created by a potential future fight against a peer adversary.".

In 2023, the U.S. Army Science Board expressed concern that the nation’s industrial base “may be incapable of meeting the munitions demand created by a potential future fight against a peer adversary.” Mackenzie Eaglen, a defense analyst AEI and one of the authors of the Science Board’s report, immersed herself in this world of procurement and manufacturing for nearly a year. “When I was done,” she told me, “the only thing I could think was It’s a miracle the U.S. military has anything that blows up, ever.” This is not just a bump in the road, and it is not just about munitions. The U.S. military, the richest in the world, confronts a deep, institutional deficiency. War planning occurs in a political and strategic context bigger than the Pentagon, which is another reason the U.S. finds itself where it is. Much of the reduction in America’s arms-manufacturing capacity was deliberate—a consequence of the collapse of the Soviet Union and the end of the Cold War.

Takeaways by Macro Roundup® AI

  1. The U.S. Army Science Board warned in 2023 that the American industrial base "may be incapable of meeting the munitions demand created by a potential future fight against a peer adversary.".
  2. Mackenzie Eaglen, an AEI defense analyst and co-author of the Science Board report, spent nearly a year examining procurement and manufacturing and concluded it is a miracle the U.S. military has anything that blows up.
  3. Much of the reduction in America's arms-manufacturing capacity was deliberate, a consequence of the Soviet Union's collapse and the end of the Cold War.

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