3 Military Keynesianism and the military-industrial complex
Introduction
Military Keynesianism, which is the policy of using milex as a counter-cyclical economic tool, suffers from a lack of theoretical sophistication (Dunne, 2013). That is, it has no clear theory; rather, milex is simply considered as one component of government spending.
From a long-run perspective, the dynamics of milex is explained through military-industrial complex (MIC) theory. It is essential to understand the role of the U.S. in the current world, as it undertakes the great bulk of milex in the capitalist system. Therefore, below I attempt to provide a brief discussion of the MIC and Military Keynesianism.
The root of the term military-industrial complex goes back ...
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