The term “peace dividend” means the extra money that becomes available to a country with a reduced military budget during peacetime. The term was popularized in May 1968, when people talked about ending the Vietnam War and the “peace dividend” that would result from it.
However, the term had been in use earlier. The Marshall-Truman foreign policy in 1947 was described as costly, but “the new policy may prove to be it will pay a peace dividend in the end.” “Hope for Peace Dividend” was cited in June 1950, in an article about Truman’s aid to Korea.
Wikipedia: Peace dividend
Peace dividend is a political slogan popularized by US President George H.W. Bush and UK Prime Minister Margaret Thatcher in the early 1990s, purporting to describe the economic benefit of a decrease in defense spending. It is used primarily in discussions relating to the guns versus butter theory. The term was frequently used at the end of the Cold War, when many Western nations significantly cut military spending.
(Oxford English Dictionary)
peace dividend n. orig. and chiefly U.S. a financial benefit from reduced defence spending; a sum of public money which may become available for other purposes when spending on defence is reduced.
1968 Fortune June 86/1 In Washington the magic phrase is ‘the Peace Dividend’... The fact is that peace dividends will neither materialize so quickly nor amount to so much as many people think.
1975 Forbes 15 Oct. 31 Remember the Vietnam ‘peace dividend’? There was no dividend. Even before the war ended, new government spending gobbled it up.
16 March 1947, Syracuse (NY) Herald American, “America’s Calculated Risk In New Foreign Policy,” pg. 44, col. 2:
We think a vast majority of the American people will fell that the Marshall-Truman position is sound; that costly as the new policy may prove to be it will pay a peace dividend in the end.
28 June 1950, Ogden (UT) Standard Examiner, “Peace Only Purpose of Order for Korean Aid, Truman Says” (UP), pg. 1, col. 8:
Hope for Peace Dividend
These three top leaders have gambled that the firm U.S. stand-up-and-fight policy invoked for the first time against communism in Asia will pay peace dividends. But they know they could be wrong.
27 May 1968, Springfield (MA) Union, “‘Peace Dividend’ Not So Certain,” pg. 13, col. 1:
NEW YORK—“The Peace Dividend,” a magic phrase in Washington these days, will neither materialize so quickly nor amount to so much as many people think, Fortune forecasts in its issue just published.
OCLC WorldCat record
Will Egypt be denied its “peace dividend?”
Author: G Henry M Schuler
Edition/Format: Article : English
Publication: American-Arab affairs. - No. 7 Winter 1983/84 : 31-39
OCLC WorldCat record
The peace dividend : military spending cuts and economic growth
Author: Malcolm D Knight; Norman Loayza; Delano Villanueva; World Bank. Macroeconomics and Growth Division.; International Monetary Fund.
Publisher: Washington, D.C. : World Bank, Policy Research Dept., Macroeconomics and Growth Division, and International Monetary Fund, 1996.
Series: Policy Research working papers, 1577.
Edition/Format: Book : International government publication : English
New York City • Government/Law/Politics • Wednesday, August 28, 2013 • Permalink