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2. - . 5 be consiertd as portot a-tetel urtional seturity policy. Should an arm control, errtenut take effect, there would be important reperoussions in our domestic uso + nony - of o mamitude that requires we meke carrful estimatos of the amount of eoce nomic dislocation that might occur end do some plenning to take up eny slack in the economy.” « Certainly somothing would happen to the economy, But does it necessarily mean that as a result the U.S. eoonomy ig permanently geared to defense production, that it cormot withstand the shock of the w ithdrawal of military contracts, that there is nothing in the economy to take the place of industry's number one customer, the Defense Department? Most economists agree thet it would indeed be a sorry state of affairs if the United States had to rely permanently on armaments production to prop up its eco- nonye They point out that defense expenditures in the U.S. absorb some 10 peroent of the Gross National Product (GIP) of about #475 billion a yeare (The proportion of defense expenditures in Western Europe to G'P is 5 peroant., docording to some sources, 30 peroent of the GIP of the Soviet Union is being used for ermaments.) They point out that the real costs of armaments and dofense are better expressed in terms of the additional advanoes which might be made in the civilim sector of the ®conomy wore it not necessary to allocate resources to defense productions The real cost, they say, is in terms of money, manpower, and materials for the production of armauonts + airplanes ccrriers, atomic end hydrogen bombs, rifles, machine guns, tanks, borbors, combat piener, guiced missiles - all of which add nothing to the stendord of living of the American people. If instead of spending $45 billicn for defmse, and es Honry Hazlitt, a contributing editor of Newswook has said: “.se.instead build addition:] new homes, new eleotric refrigerators, dishwaching and olctheswashing machines, now and better heating systems, better highways, more bool:s end schools and churches and reserrch laboratories and hospitals, we would reduce the amowit of needless toll md increase the comforts and snenities end opportunities of life for all our people." This problem has been recognized by President Eisonhoror, too, who said: "Every gun thet is made, every warchip launched, every Teckot fired, signiflez - in the finol sense ~ a theft from those who hunger end are not fed; thoso who are cold ed are not clothed." To what extent is monoy and manpower experdsd. on these items of defense? Monoye World-wice, the mmucl military expo:diteres of all states have been estimated ot $100 billion. (Of this amt, the Ve i cpeads about £45 billion yeorm ly; tho Soviet Unien spurnds chout $25 billion = fcr . tutal of about €70 billion, or more thar two-thirds of tho total world arzs 1 } Whis mocus thet avery hour - dey ond night - the world sponds some $°,{i rs ynich will eventually bo used to blow the world to bits = o> to while now aid better and mors costly weapons are built = or dirocrCud entiroly if disarmnsnt should ve a U.S, itself spends son 00,000 each hour e dey and t: of the monoy is liter ly worted seve Senator Baad that the cost ef waste ord duplioation itselr