My answer to Why doesn't the American government manufacture their own weapons, jets, aircraft carriers and other m…
Answer by Ken Larson:
The only way our government could amass the necessary industrial strength to fill the bill in World Wars I and II was to mobilize America’s incredible industrial might and create the Military Industrial Complex.
The result was thousands upon thousands of weapons (and jobs) in companies all across the nation. The arrangement has continued to the present day.
At the end of WWW II, Eisenhower warned about the potential for abuse of the MIC:
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The participating companies are based in a capitalist economy. They are owned by private enterprises and stockholders and compete for research and development and production.
What you are considering would require an arrangement much like Russia and China, where the government finances and owns the industries (or major shares of them). It is an immense economic burden.
Not that ours is perfect. The massive structure of the Pentagon to manage our version of war fighting equipment and our relationships with allied countries that use or ordnance is very costly.
It consumes a vast majority of our available disposable income from taxes and has unfortunately fulfilled Eisenhower’s warning with the massive power is has obtained.
It needs to be better managed, but it cannot be government owned without changing our economic system.