War profiteering blows away peacetime defense systems. The post 2001 defense spending boom has dwarfed the cold war at minting billionaires. Vietnam also produced stupendous profits that were not matched by the 80s spending surge.
The post 2001 defense spending boom has dwarfed the cold war at minting billionaires.
Really? I haven't heard of that many people becoming billionaires off the defense industry, given that it's dominated by giant decades-old conglomerates. But then again, maybe I haven't been paying attention. Got some names for me?
Most are probably not direct profiteers, like CEOs, they're mainly shareholders. But I'm sitting at Bethesda Naval Hospital right now, a nearly empty hospital with entirely too many staff, watching billion dollar buildings be built for patients that will never come (thanks to the admittedly much more humane TriCare system that allows retirees and dependents to be treated in their hometown civilian facilities). I have spent the last month learning about the desperately failed suite of electronic medical record apps that DoD has paid Lockheed Martin $20 billion dollars to develop (they fail on so many levels I don't know where to begin, just search for AHLTA).
Relevance to your question: providing supporting evidence. Citing two specific examples of DoD spending that appear to out of proportion to either need or benefit, but which sent billions to the conglomerates you mention. Both examples based on personal experience.
Hahaha, this is so true. Contractors owned by minorities get preferential treatment on bids, so there are tons of tiny minority-owned subcontracting companies which happen to be owned by larger conglomerates. I personally know some folks here in St. Louis (there is a lot of defense contracting here) who work for such companies.
