Monday, 10 March 2014

How much does violence cost?

This blog, written by Philippa Lysaght with the Institute for Economics and Peace, is about a new report on the international costs of global violence. It is part of the Wikiprogress series on Peace.

The international cost of violence containment has surpassed the combined GDPs of Germany and Japan.

The Economic Cost of Violence Containment, the latest report from the Institute for Economics and Peace, calculates the cost of violence in over 150 countries according to 13 types of violence related spending.

The research shows that violence containment, which is understood as any economic activity related to the prevention or consequences of violence, has a global economic impact of US$9.56 trillion.

To put this in perspective, violence containment is equal to US$1,300 for every person on the planet every year and is almost double the size of the world’s agriculture industry.

Violence containment spending is over 2.4 times the size of the total GDP of Africa. 

While some spending on violence containment is necessary, the less a nation spends on violence-related functions, the more resources can be allocated to other more productive areas, such as education and health, which benefit not only the wellbeing of a society, but also the economy.

Reducing violence containment spending and investing in the underlying institutions that encourage peace and wellbeing, creates more peaceful and economically prosperous societies. 

The aim of this research is to help understand the full costs of conflict and to ultimately allow for better targeting of development assistance.

To find out more about violence containment spending, and to see how much each country spends, download the report here (PDF).

- Philippa Lysaght, Institute for Economics and Peace

See Also:
The Global Peace Index
Pillars of Peace
Global Peace Index Report 2012
United Kingdom Peace Index
Mexico Peace Index
United States Peace Index
Peace, Wealth and Human Potential


No comments:

Post a Comment