“In time of war, the loudest patriots are the greatest profiteers”
– August Bebel
INTRODUCTION
War is a complex phenomenon, at once a cause and consequence of the state. It is a means by which states can expand their influence, gain new territory, and increase their power. But war can also be a highly profitable business, with many companies making handsome profits by backing the wrong side or taking advantage of the chaos of combat. Some of these profiteers are well-known, such as arms manufacturers or pharmaceutical companies. There are many different ways that companies can take advantage of war. Some specialize in the production or sale of weapons or military hardware, while others offer services such as logistics or insurance. Some specialize in specific regions or conflicts, such as Afghanistan or the Iraq War. War can be a lucrative business for a company in any of these industries, but it is also a highly risky one.
THE MUCKY BUSINESS
War profiteering is an even bigger business than war itself. It is a means by which companies can make money by taking advantage of conflict and chaos. Armed conflict is a breeding ground for risk, which is why investors often flock to the industries that fuel it. It is also a market with a huge demand for a specific type of product: weapons. War profiteering is a global industry, and the same companies that profit from conflict in one part of the world will often find success in others. The global arms trade is a prime example of this phenomenon. The United States is the largest arms dealer in the world, and sells billions of dollars’ worth of weapons every year. Most of this arms’ trafficking occurs abroad, with the United States delivering weapons to allies and selling weapons to unstable regions around the world.
War profiteering has many faces, and it is often difficult to detect the hand of the profiteer when it is present. However, the global nature of the industry means that even if a war does not take place in your backyard, it is likely to have an impact on the profits of a multinational company. This is especially true of the largest and most powerful corporations. The arms industry, for example, is dominated by a small number of companies, such as United States-based Lockheed Martin and its European rival, BAE Systems.
EFFECTS OF THIS MUCKY BUSINESS
War profiteering has a number of effects on a country. The first and most obvious is the impact on the economy: a country that is at war will often find itself struggling to provide the bare necessities for its people. In addition, a country at war will often experience an increase in the prices of goods and services, making it more difficult for civilians to afford these. The increased demand for goods and services often forces the military to cut back on its spending on non-military items, such as education.
It also has a number of impacts on the world as a whole. One of the most obvious is the creation of military-industrial complexes, which are linked to conflicts by the profits that can be made from them. This can result in the arms industry playing a significant role in the escalation of international disputes into armed conflict, as was the case with the Iraq War. It can also have a profound impact on the economy as a whole, as the spending on weapons and military hardware can have a large multiplier effect. Sometimes, it also affects the companies involved in a negative manner.
CROSS-BORDER DISPUTES & WAR PROFITEERING
War is often a means of conflict that is often carried out across borders. This means that even if a company is not involved in a particular conflict, the profits that can be made from it can still have a profound impact on the company as a whole. This is particularly the case when a conflict involves two or more countries, as it creates a market for the sale of weapons as well as the production of them.
War profiteering is a particularly interesting phenomenon when it comes to cross-border disputes. In many cases, these disputes are the result of individual companies taking advantage of a conflict that has already started. For example, the Iraq War is often cited as a major contributor to the current instability in the Middle East, but it was the decision of one company, Halliburton, to bid for a piece of the Iraqi reconstruction pie that kick-started the war in the first place. Similarly, the ongoing crisis in Ukraine is the result of a series of decisions by junior politicians to take advantage of the uncertainty created by the conflict in the Donbass region.
CONCLUSION
Today’s world is evolving at a breakneck pace. As a result of these developments, there have been a slew of international conflicts over a variety of topics. Conflicts have erupted between the two countries because of divergent ideologies, diplomatic strategies, government policies, and other factors. In the past, every disagreement would have resulted in a bloody confrontation, but nowadays, peaceful means of resolving differences, such as ADR, are preferred. ADR is a useful tool for resolving disputes and reducing hostility and resentment between the parties concerned. Discussions have always been favoured by countries than disputes and debates. The use of ADR in cross-border disputes is on the rise, as more nations step up to the plate to manage it. More and more nations will be open to using ADR as a substitute to other costly affairs, such as war, in the future.
Author’s Name: Jay Sharma (National Law Institute University, Bhopal)
