Why this book? I was attracted by the idea of a relatively short book on the economics of the arms industry. Economics has a contribution to make to the understanding of an industry that is often the subject of criticism and condemnation. It is an industry in which economics, morality and ethics cannot be avoided. Such a combination provides massive opportunities for economists to contribute to the debate by identifying myths, emotion and special pleading, and subjecting these to economic scrutiny and critical evaluation. This book brings together my research interests in arms industries; it presents an economic analysis and evaluation of the industry; and it attempts to inform readers about this controversial industry, which is so important for the future of civilization. Effectively, the book tells you all you need to know, and more, about the economics of the arms industry.

This book reflects a lifetime of interest in arms industries. I was born in Leeds on 14 July 1940 in the early stages of the Battle of Britain (officially the battle started on 10 July 1940) and my date of birth coincided with the anniversary of the French Revolution and the storming of the Bastille (14 July 1789). My parents worked in the clothing industry and my father also served in the Royal Air Force (RAF). My early life was dominated by the exploits of Spitfires, Hurricanes, Lancasters, Halifaxes and Mosquitos. The first jet fighter aircraft entered RAF service in 1944 and the jet engine revolutionized air warfare and civilian air travel. I followed these developments by attending annual Battle of Britain air displays at nearby RAF Church Fenton (now East Leeds Airport) and RAF Finningley (now Robin Hood Airport). I often cycled to the local RAF bases, as well as visiting disused former bomber bases. My interest in military history and former RAF bases has continued to this day, and I recently discovered a Mosquito base in Norfolk with the delightful name of Little Snoring, the exploits of which are recorded in the local church.

The economics came later. I started studying economics by accident: my sixth-form subject preferences could not be fitted into the school timetable so I had to choose a third A level.