How to transform a war economy for peacetime

In the 1980s, California was the heart of the aerospace industry. But when the Cold War ended, military spending cuts put those defense jobs in jeopardy.

This week, we're bringing you a three-part series on the defense industry. In this episode: how the state redirected some of those defense dollars to another economic opportunity provides an example of how the "peace dividend" can be used effectively.

Related episodes:
Are we overpaying for military equipment? (Apple / Spotify)

Can Just-In-Time handle a new era of war? (Apple / Spotify)

Industrial policy, the debate! (Apple / Spotify)

Giant vacuums and other government climate bets (Apple / Spotify)

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.