Abstract
Upon the fall of the Berlin Wall in early November 1989, governments, defence-related manufacturers, defence dependent communities and employees whose livelihoods were contingent on a sustained level of defence spending, either directly or indirectly, began coming to terms with the likely prospect of significant cuts in the military procurement budgets of nations. Indeed, defence expenditures in the USA dropped from 6.5 per cent of GDP in 1986 to an estimated 3.6 per cent in 1997,1 and in the United Kingdom spending fell from 4.8 per cent of GDP to 3.3 per cent from 1986 to 1994.2 Consequently, international debate among academics, politicians, industrialists and ordinary citizens began to rage about the size and most beneficial uses for the anticipated savings realized from lower national defence budgets following the end of the Cold War ± often referred to as the peace dividend.
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