[hedgie]

consider this statement politically agnostic, but military spending is the closest thing we have to govt subsidized R+D in this country. there several enormously useful and successful military inventions that no commercial company would have touched.

gps and the internet are two of the most notable and visible examples with astronomical infrastructure costs. no private company would undertake a risk like this yet both have substantially improved society. the microwave and digital cameras are two others that a private company may have eventually created.

this isn't an argument for military spending, just the fact that without a government body that focuses entirely on applied research and development the military is the next best thing.