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SMSgt Mac said...

Good comment.
Yeah, that line caught my attention the second time I looked at the mythical MIC. It sounds oh so compelling...until you think about it, Eisenhower was comparing the spending for an ambiguously broad 'national security' cost against the mere NET income of corporations in '61ish? So what? one is a category of economic activity, one is a subset of a line item within an economic category...Grandstanding to make his point more vivid. I'll be doing a little background on that line in the upcoming post.

Oct 2, 2014, 8:35:37 PM

Posted to An Economics Riddle: