THE AMERICAN UNBRINDLED PROSPERITY; A SHINING EXAMPLE OF THE TRIUMPHS OF WEAPON ECONOMIES:

By Bola Ahmed Tinubu.

Ever since the United States of America transformed from agrarian to industrial economy, unbrindled prosperity has been the lot of the American people. This prosperity may be interrupted from time to time by recession or depression, but the course has been sure and steady. 

Little wonder that the United States, today, has the largest and one of the strongest economies in the world. The high level of productivity and attendant high outputs of goods and services are responsible for this. Being the largest economy in the world, logic dictates that the outputs of American industries should be common-place across the globe. But when you ask any Nigerian what made in America goods he or she is consuming, the invariable answer you will get is, "biscuits and chewing gums". Nothing more. But do not let that surprise you because even in America itself, the situation is not much different. Most of their consumer goods are now imported from other countries, especially Asia. Yes, it is true that the goods were manufactured in Asian countries by American corporations, technologies, and capital, the fact still remains that America, today, is a net importer of consumer goods. 

What factor then accounted for the enviable American prosperity today? 

The answer is that America is still a formidable and unbeatable industrial country. But their major outputs, apart from services, are not consumer goods. They now specialize in capital goods production, like machinery and, especially, military hardwares. What the average Nigerians that talk about biscuits and chewing gums do not know is that they consume Nigerian defence apparatus purchased from the Americans. Talk about our government purchases of armoured tanks, rifles, fighter planes, attack helicopters, rocket propelled grenades, etc. All are purchased from America. Same thing goes for most of the other African countries, Asian countries, and western Europe. They all purchase most of their military hardwares from the United States. Doubtlessly American prosperity is a shining example of the triumphs of weapon economies. Also, the annual defence spendings of the US government is hugh to the extent that prosperous economy is just unavoidable.

If I become Nigerian president, I will effect a paradigm shift from importation of biscuits and chewing gums from America to importation of machine tools and factory equipments for Nigerian industries that are still at an infant stage of development.

Thank you.