4.7 % of us gdp goes to military.
4.7 % of us gdp goes to military.
how much of us gdp goes to military?
4.7 %
this approach somewhat increases the measure of "total" gfcf and by implication the total gdp of arms-producing countries, because expenditures and sales of weaponry are very large, especially in the united states and europe. according to the swedish research institute sipri, global military expenditure by governments in 2008 is estimated to have totaled $1,464 billion, or approximately 2.4% of the value of world gdp in 2008, but arms expenditure is only one component of this expenditure. in 2007, the combined arms sales of the "sipri top 100 arms-producing companies" reached $347 billion. according to sipri, forty-four us companies accounted for 61 per cent of the top 100’s arms sales in 2007, while 32 west european companies accounted for 31 per cent of the sales. russia, japan, israel and india accounted for most of the rest. including us arms sales in us gdp would raise the measure by up to 1.8%.
gross fixed capital formation
the supreme court ruled in 1911 that standard oil must be dismantled for violation of federal anti-trust laws. it was broken up into 34 separate entities which included companies that became exxonmobil, chevron corporation, and others—some of which still have the highest level of revenue in the world. individual pieces of the company were worth more than the whole, as shares of these doubled and tripled in value in their early years, and rockefeller became the country's first billionaire with a fortune worth nearly 2% of the national economy. his peak net worth was estimated at us$ (in dollars; inflation-adjusted) in 1913. the 409 billion figure assumes a 2% share of us gdp in 2016. his personal wealth, 900 million in 1913, more than 2% of us gdp of 39.1 billion that year was worth 21 billion dollars in 2016 adjusted for inflation (by 1937 the rockefeller fortune was 1.4 billion or 1.5% of gdp of 92 billion).
john d. rockefeller