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PRINT September 2020

PROFITEER MOTIVE

Federal agents in Portland, OR, July 29, 2020. Photo: Brandon Bell/New York Times/Redux.

COVID CAPITALISM. We knew it would happen. An April 15 article in the New York Times left no doubt that it was upon us, offering stunningly unironic advice about how to profit from war during the pandemic. With Covid-19 ravaging the economy, the production of armaments and security technologies would remain constant and stable, author Tim Gray argued, writing that “stock market stalwarts” like General Dynamics, Lockheed Martin, Northrop Grumman, and Raytheon always present opportunities to make money when everything else is falling apart.

It’s hard to think of a better demonstration of the fact that militarization functions as the bedrock of the American economy. Military spending in the United States currently stands at some $700 billion a year, comprising about one-sixth of the total federal budget, and the military contractors listed above gain most of their annual revenue from

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