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AbstractThis research analyses and establishes linkages between the frequently disregarded economic theories that drive military spending. This paper’s analysis methodically goes over pertinent material, offering a thorough timeline that identifies significant moments that shaped the evolution of modern economic theories about military spending. Our analysis spans from the medieval period to the post-cold war times. Most of the analysis concentrates on conventional economic theories and their role in shaping military spending philosophies in Europe. We find that historical perspectives and theoretical underpinnings contribute to nuanced and informed debates, ensuring that the economic implications of defence investments are thoroughly understood. The ongoing discourse on military spending benefits from acknowledging the diverse roots and evolving theoretical perspectives, fostering a holistic understanding of the economic intricacies associated with defence expenditures, thus further emphasising the importance of this paper during such times.