Roj Bash Kurdistan

"Of all the enemies to public liberty war is, perhaps, the most to be dreaded because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes … known instruments for bringing the many under the domination of the few.… No nation could preserve its freedom in the midst of continual warfare."

By James Madison, Political Observations, 1795

At a time when a deep economic recession is causing much turbulence in the civilian world … defence giants such as Boeing and EADS, or Finmeccanica and Northrop Grumman, are enjoying a reliable and growing revenue stream from countries eager to increase their military might.

Both geopolitical hostilities and domestic violence tend to flare up during downturns.

Shareholders and employees in the aerospace and defense industry are clearly the ones who benefit most from growing defense spending.

Defence companies, whose main task is to aid governments’ efforts to defend or acquire territory, routinely highlight their capacity to contribute to economic growth and to provide employment.

Indeed, some $2.4 trillion (£1.5tr), or 4.4%, of the global economy “is dependent on violence”, according to the Global Peace Index, referring to “industries that create or manage violence” — or the defence industry.

Military might delivers geopolitical supremacy, but peace delivers economic prosperity and stability.

And that, the report insists, is what is good for business.