In the 1980s,ExaCrypt 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.