Profits from war can be made in many different ways, whether you’re a profiteer within your country or overseas. There are many ways to make excessive profits from war. You can sell weapons or medical services.
Passive vs. active war profiteers
You’re likely to have heard about or tried the latest gadgets, regardless of whether you are interested in finance, commerce, or military. The old-fashioned calculator is one such gadget. It’s not surprising that most people have been exposed to at minimum one calculator in their lives. There are many calculators available. The best model will be chosen by a well-informed consumer in just minutes. They are usually free, which is the best thing about them.
You will also find many unscrupulous people who want to buy and sell your personal information in a highly competitive market. Moreover, some companies have to pay an additional profits tax. Many of these unfortunate victims can end up with a large sum of money.
Conflict profiteers encourage wars
Profiting from wars and conflicts is a worldwide business. Companies involved in security, weapons, and reconstruction are some of the most profitable. As a way of expanding their business, they often turn to the country where they are located.
The US has been involved in conflicts in many countries for a long time. The United States is the largest arms dealer in the world. In 1953, the United States was also known to have carried out a covert mission against Guatemala’s government.
There are many economic hypotheses that explain why private actors want to be involved in conflict. These hypotheses are based on group motivation, dynamics, and resources.
A wide variety of scholars have extensively researched the relationship between conflict and resources. Philippe Le Billon is the author of one of the best studies on this topic. Students of international conflict and civil wars will find his book a valuable resource.
Arms sales
The United Kingdom may hold the UK’s arms trade monopoly, but that doesn’t mean it is immune to the absurdity of the arms industry. For example, weapons of mass destruction. A slew if reports claim that Britain-made weapons are being used in the bombing of Yemen. We can’t deny the fact that the UK Government doesn’t do enough to fight terrorism. Although jihadists are on the move in Yemen, this does not bode well for British citizens’ security. It’s time for us to defend our country’s interests. The government must improve transparency in its procurement process. This could be done by creating a more transparent and streamlined system that does not rely on dubious and black markets.
Tax on excess profits
Many governments have imposed excess profits taxes during wartime. These taxes are intended to recover excess profits from wartime and to pay for war’s cost. Many economists and social reformers are opposed to these taxes in peacetime because they discourage innovation, work, and creativity.
The modern excess profits tax has the problem of being viewed by some as a disincentive to companies investing. This is true, but it is important that we remember that many corporate profits are excess profits. These are the profits that have fallen in the lap of a company due to luck or market power.
Excess profits taxes also have the disadvantage of not addressing the root cause. They will not reduce the prices of oil and gas. They will not also decrease inflation.
