The US's military procurement machine may be the single most successful system of wealth transfer ever devised. But as a provider of working equipment to defend the country against realistic threats, it is becoming more and more dysfunctional.
In line with the steady rise in social unrest over the past decade, it's likely that we will witness an unprecedented escalation in large-scale citizen protests across the globe in 2016 and beyond.
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Simon Johnson, former chief economist of the International Monetary Fund, is a professor at the MIT Sloan School of Management, a senior fellow at the Peterson Institute for International Economics, and a member of the CBO’s Panel of Economic Advisers. He is a co-founder of The Baseline Scenario.