EPS undertakes projects of research, education and outreach within our three program areas:
Because the United States’ military expenditure exceeds that of the rest of the world combined, one area of focus is the security and economic policies of the world’s only (current) superpower. Within this program area we look at such issues as: the true cost of war; what can realistically be achieved by military means? defining a new framework to reduce the cost and increase the effectiveness of U.S. security; looking for ways to reduce the threat of irresponsible nuclear policy; and, strategies for achieving peace and homeland security.
Cooperation is a common sense tool to get things done. It's real people, in government and out, working together on issues that matter to our daily lives. Many issues we face are bigger than any one nation - even the US: finding terrorists anywhere they hide; stopping killer germs before they reach our shores; making the global economy work for everyone. Working with other countries and international institutions like the UN multiplies our strength, expands our options, and distributes our costs and risks.
At present, even within defense and security institutions, virtually no training opportunities exist in this field, no possibilities for students, security personnel, the NGO community, or other interested parties to receive an informed overview of the economic causes and consequences of defense expenditure, how economic theory helps illuminate, formulate, and evaluate policy options.
Here, we integrate the study of economic dimensions into the study of war and peace (for example, in international relations), and the study of war into the study of economic systems (for example, the arms trade in international trade & finance; defense spending in macroeconomic management). Our goal is not to dictate how economists teach these topics, but to encourage creative work in these areas.