What about Korea and Vietnam. Yes they had internal conflicts, but were they not greatly magnified by the superpowers? Certainly the Korean war has led to long term destabilization in the region. The whole middle east situation was not helped, but magnified greatly by the cold war.
You have to look at it over long periods of time and where the countries are located. USA is the strongest country in the Western Hemisphere yet it hasn't cleaned out Latin America when it quite easily could do so which is a testament to economies being intertwined and trading with each other. Also with the USA being as strong as it is and enjoying as much battlefield success as it has in open combat, there isn't incentive for countries from Eurasia to attempt to invade us on top of a trading economy. The Americas are far more stable than Europe, Asia, Africa and the Middle East.
Defence spending is wise as it is the stick in the carrot and stick method of getting world peace with the carrot being trading amongst countries.
With trading by countries with each other increasing over time allowing an increased standard of living and at the same time increasing money spent on defence, it shows that war for the most part is an exercise in madness and futility. The countries at war with each other now have very little power and not involved in much trading.
People can point to the USA, but when it formally declares war, it is a steam roller. The there's Isis which we are seeing in real time is an exercise in futility.
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