Conflict Over Arms Accumulation in Market and Command Economies* *An earlier version of this paper was presented at a meeting of the European Public Choice Society, 2-5 April I986, Noordwijkerhout, the Netherlands, and at a Conference on International Economic Security organised by the Centre for Economic Policy Research, June 1986, London. The authors are grateful to the participants in those meetings, to two referees, to Simone Clemhout and Ron Smith for their comments, and to Aton Markink for his excellent computational assistance for Section 5.2.