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The Defense Production Act (DPA) of 1950 (Pub. L. 81–774) is a United States federal law enacted on September 8, 1950, in response to the start of the Korean War. [1] It was part of a broad civil defense and war mobilization effort in the context of the Cold War. Its implementing regulations, the Defense Priorities and Allocation System (DPAS ...
The economics of defense or defense economics is a subfield of economics, an application of the economic theory to the issues of military defense. [1] It is a relatively new field. An early specialized work in the field is the RAND Corporation report The Economics of Defense in the Nuclear Age by Charles J. Hitch and Roland McKean ([2] 1960 ...
Military Keynesianism is an economic policy based on the position that government should raise military spending to boost economic growth. It is a fiscal stimulus policy as advocated by John Maynard Keynes. But where Keynes advocated increasing public spending on socially useful items (infrastructure in particular), additional public spending ...
The National Defense Authorization Act (NDAA) is any of a series of United States federal laws specifying the annual budget and expenditures of the U.S. Department of Defense. The first NDAA was passed in 1961. [1][2] The U.S. Congress oversees the defense budget primarily through two yearly bills: the National Defense Authorization Act and ...
The military–industrial complex (MIC) is a phrase originally coined by U.S. President Dwight D. Eisenhower to describe the relationship between the military and the defense industry that supplies it with weapons, equipment, and services. Originally, the military-industrial complex referred to the nexus of defense contractors and policymakers ...
The International Emergency Economic Powers Act (IEEPA), Title II of Pub. L. Tooltip Public Law (United States) 95–223, 91 Stat. 1626, enacted October 28, 1977, is a United States federal law authorizing the president to regulate international commerce after declaring a national emergency in response to any unusual and extraordinary threat to the United States which has its source in whole ...
NSC 68. United States Objectives and Programs for National Security, better known as NSC 68, was a 66-page top secret U.S. National Security Council (NSC) policy paper drafted by the Department of State and Department of Defense and presented to President Harry S. Truman on 7 April 1950. It was one of the most important American policy ...
The Mutual Defense Assistance Act was a United States Act of Congress signed by President Harry S. Truman on 6 October 1949. [1][2] For U.S. foreign policy, it was the first U.S. military foreign aid legislation of the Cold War era, and initially to Europe. [3] The Act followed Truman's signing of the Economic Cooperation Act (the Marshall Plan ...