Peace dividend

Peace dividend was a political slogan popularized by US President George H. W. Bush and UK Prime Minister Margaret Thatcher in the light of the 1988–1991 dissolution of the Soviet Union, that described the economic benefit of a decrease in defense spending. The term was frequently used at the end of the Cold War, when many Western nations significantly cut military spending such as Britain's 1990 Options for Change defence review. However, despite reductions in defense spending in both the West and the former Soviet Union, a peace dividend proved elusive both because demilitarization is itself costly and because militarization is more complicated than simple extraction of resources from an economy. The term is closely related to the Guns versus butter model.

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