Defense Spending: A Historical Review of the Price of Power Over a Century

by Alexander Masters

How has U.S. defense spending shaped the nation's power, economy, and global role over the last century?

For more than a hundred years, military budgets have reflected America’s shifting priorities, expanding during global conflicts, contracting in times of peace, and evolving to meet new threats. From the buildup of World War I to Cold War arms races, post-9/11 defense strategies, and today’s emerging security challenges, every era has brought new debates over how much the U.S. should invest in its military and what those choices mean for the future.

This book explores the political, economic, and strategic factors that have influenced defense budgets, showing how military spending impacts technological innovation, economic growth, and other national priorities. It examines the role of the defense-industrial complex, the lasting effects of major military conflicts, and the ongoing tension between security and fiscal responsibility.

Rather than focusing solely on numbers, this book provides a historical perspective that unpacks the trade-offs and consequences of defense spending. Written for policymakers, history enthusiasts, and curious readers, it offers an engaging look at one of America’s most enduring policy debates.

341 pages, Kindle Edition

Published January 22, 2025

About the author

Alexander Masters is an author and screenwriter. He is the son of authors Dexter Masters and Joan Brady.