Dossier
moral hazard
Coverage of moral hazard in the Nexus archive.
- Why NATO’s defense spending imbalance lasted for decades
For over three decades, the U.S. bore the largest share of NATO's military burden while many European allies underinvested in defense. The imbalance persisted due to post-Cold War optimism, domestic political priorities, and the U.S. security umbrella, but recent years have seen increased spending following Russia's 2022 invasion of Ukraine and pressure from President Donald Trump.