The Military's Monopsony Power.
CENTER FOR NAVAL ANALYSES ALEXANDRIA VA NAVAL STUDIES GROUP
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The military, and society in general, can be made better off by moving to the competitive equilibrium, the Pareto optimal solution. However, even if the competitive solution is not politically possible, the present monopsony solution for the AVF is preferred to a draft. Coopers 1975 analysis has shown that the draft is not the better alternative to the AVF. He demonstrates that the welfare loss associated with a draft will exceed the welfare loss associated with the All Volunteer Force. Author
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