This Element presents an economic analysis of Augustine's Laws and Weapons Systems. It explores and evaluates their economic content and subjects them to critical analysis. The Element is both theoretical and empirical and the empirical work uses an original UK data set on military aircraft over the period 1934 to 1964. The period embraces major technical changes involving war and peace and the shift to jet powered aircraft.
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Presents an economic analysis of Augustine's Laws and Weapons Systems.
1. Overview;
2. A brief history of the aircraft and aerospace
industries;
3. Augustine's laws;
4. Augustine's weapons: alternative
approaches;
5. The ministry of defence viewpoint;
6. Augustine weapons
systems: what are they?;
7. Causes;
8. Data used in this study;
9. Literature
review;
10. Evidence on cost escalation;
11. Cost overruns on civil projects;
12. Unit cost curves;
13. Trainer aircraft;
14. Empirical results;
15. A
critique;
16. Future challenges;
17. Overall conclusions; Statistical
appendix: Appendix I; Appendix II; References.
