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Thursday, September 2, 2010

1 Billion for drugs; 2 Billion for military...per day

In class, we just learned that it costs about $800 billion for a pharmaceutical company to make a new drug...which led me to look up the U.S. military spending.

So the U.S. spends $2 billion per day on military, which is $711 billion per year.  

That consists of 47% of the world's spending on military, which is almost how much the rest of the world spends on military COMBINED.   Pie Chart of World Military Spendings


2 comments:

  1. If you are interested in drug pricing issues, a book I would recommend is Reasonable RX, by two MIT professors (Temin is one of them)

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  2. I was actually more surprised about the military spending...but I may take a look at that book - just not sure when :(

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