[Market Economy in Your Pocket] Strong National Defense Underpins Economic Development

The forces that threaten the market economy system exist not only within us but also outside us. To protect our lives, property, and system from external invasion, we need strong national defense.

What protects us is our own strength. In today’s international order, no one plays the role of a good policeman for the Republic of Korea. The reality of international politics is that every country must defend itself.

To build and maintain strong national defense, economic power, good alliances, and a proper sense of security are necessary.

Economic power is essential for acquiring good weapons and maintaining well-trained troops. A country without guaranteed national security cannot achieve economic development, but a country that fails to achieve economic development also finds it difficult to secure national security. Sustained economic development is necessary for us to build up our own defense capabilities.

Looking back on the history of war, there is one clear lesson. Countries with stronger economies are more likely to be the ultimate victors in war than countries with stronger military power. Among the factors that determine a nation’s overall strength, the most important is economic power.

No country in the world can, by its own strength alone, fully shoulder both national security and economic development. Good alliances enhance national security and guarantee economic development. At present, our country spends 2.8% of its national income on defense (the world average is 3.5%). As of 2002, South Korea spent $11.8 billion on defense, and in the same year U.S. Forces Korea spent $10.6 billion on military expenditures. In that sense, the alliance with the United States is extremely important. One important reason our country, which is vulnerable in terms of national security, can afford to spend relatively less on defense is the existence of the Korea-U.S. alliance.

Above all, what matters most is a proper sense of security. It is the resolve of each and every one of us to defend liberal democracy and the market economy system, whatever sacrifices may be required. Nothing threatens our security more than the idea that reunification alone is enough, regardless of what system results.

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Original title: [주머니 속의 시장경제] 튼튼한 국방은 경제발전의 바탕

Author: Center for Free Enterprise (CFE)

Date: 2005-08-01

Source: https://www.cfe.org/bbs/bbsDetail.php?cid=column&pn=22&idx=10658