This book does very well to provide a readable guide on the conjunction of two complex topics - economics and the military. The author takes a realistic and pragmatic approach to a rarely discussed subject. For instance, Chapter 7 on military capability recognises the limitations of measuring complex and important aspects of generating combat power. Morale and leadership are given due recognition and their role is not trivialised simply because we cannot measure or accurately characterise them.I was hoping the author could have provided some 'grand new insights' into the relative efficiency (or inefficiency) with which countries transform the States resources into effective combat power and military outcomes. However, this is probably more a product of the complexity of the subject then an oversight by the author.The value of the book is not in any grand new insights. It is more the authors use of an economic lens that leaves the reader (particularly if ex-military) with a new perspective on the forces shaping military decisions and military force structures. By being easily readable and accessible the book also acts as a resources for the reader interested in drilling into other source material on military economics.There are vey few books on this subject. I rate this book equally with "The Cost of Seapower: The Influence of Money on Naval Affairs from 1815 to the present Day" (Pugh, P., Cambridge University Press, London, 1986).