thermore, the UK should increase milex due to the positives effect on the microeconomy. Modernisation theory would argue increasing milex has many benefits on the quality of factors of production and firm characteristics. For example, the military sector offers training and education for labour as well as investment in capital. However, for the UK – a economically developed country – these benefits would be limited. As the UK’s factors of production are already developed the additional effects of increasing milex in terms of the modernisation theory for the UK would be minimal.

Marxism would additionally argue the UK should increase military expenditure in order to sustain effective demand and maximise the economic surplus. It can be argued higher levels of milex will lead to low levels of unemployment and high levels of capacity use. This is significant to the UK in order to maintain the current high employment figures which during 2017 reached 74.8%. Therefore, increasing military expenditure will lead to improving the UK state of security.

Nevertheless, numerous individuals would debate milex has negative effects on the economy therefore to improve security policy the UK should decrease military expenditure. According to the military industrial complex milex has negative effects on the economy due to information problems which leads to resources being skewed away from the civilian sector to the inefficient military provision. Arguably for the UK this asymmetric information leads to exaggerated risks and inflated military spending as can be seen by the increase in 2016. Despite some benefits many would debate the military sector is more corrupt and inefficient than the civilian sector as well as was