Military-industrial complex: Difference between revisions
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It is sometimes used more broadly to include the entire network of contracts and flows of money and resources among individuals as well as institutions of the [[defense contractor]]s, [[The Pentagon]], and the [[Federal government of the United States#The Legislative Branch|Congress]] and [[Federal government of the United States#Executive branch|executive branch]]. This sector is intrinsically prone to [[principal-agent problem]], [[moral hazard]], and [[rent seeking]]. Cases of [[political corruption]] have also surfaced with regularity. | It is sometimes used more broadly to include the entire network of contracts and flows of money and resources among individuals as well as institutions of the [[defense contractor]]s, [[The Pentagon]], and the [[Federal government of the United States#The Legislative Branch|Congress]] and [[Federal government of the United States#Executive branch|executive branch]]. This sector is intrinsically prone to [[principal-agent problem]], [[moral hazard]], and [[rent seeking]]. Cases of [[political corruption]] have also surfaced with regularity. | ||
== | ==Links== | ||
* [[wikipedia:Military–industrial complex|Military-industrial complex on Wikipedia]] | * [[wikipedia:Military–industrial complex|Military-industrial complex on Wikipedia]] | ||
* [http://mises.org/daily/2450 "The Living Reality of Military-Economic Fascism" Mises Daily: Saturday, January 20, 2007 by Robert Higgs] | * [http://mises.org/daily/2450 "The Living Reality of Military-Economic Fascism" Mises Daily: Saturday, January 20, 2007 by Robert Higgs] | ||
Latest revision as of 19:02, 21 June 2011
- This article uses content from the Wikipedia article on Military–industrial_complex (edition) under the terms of the CC-by-SA 3.0 license.
Military-industrial complex (MIC) is a concept commonly used to refer to policy relationships between governments, national armed forces, and the industrial sector that supports them. These relationships include political approval for research, development, production, use, and support for military training, weapons, equipment, and facilities within the national defense and security policy. It is a type of iron triangle.
The term is most often played in reference to the military of the United States, where it gained popularity after its use in the farewell address speech of President Dwight D. Eisenhower, though the term is applicable to any country with a similarly developed infrastructure.
It is sometimes used more broadly to include the entire network of contracts and flows of money and resources among individuals as well as institutions of the defense contractors, The Pentagon, and the Congress and executive branch. This sector is intrinsically prone to principal-agent problem, moral hazard, and rent seeking. Cases of political corruption have also surfaced with regularity.