The Grand Strategy Sessions Julia Gledhill: Nationalization and the Military-Industrial Complex
Sep 26, 2025
Julia Gledhill, a research analyst at the Stimson Center, dives into the complexities of the U.S. defense industry. She discusses the potential for partial nationalization of defense companies to enhance strategic decision-making and procurement. Gledhill highlights the impact of financialization on contractor incentives, leading to delays in projects. She argues that examining international models, like those in France and South Korea, could provide insights for reforming U.S. defense policy. The conversation underscores the importance of accountability and collaborative foreign policy approaches.
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Multipolarity Is An Opportunity
- A multipolar era opens space to rethink U.S. foreign policy goals and multilateral roles.
- Julia Gledhill urges using the transition to ask what collective goods the U.S. should pursue and how.
Defense Firms Are State-Created
- Major U.S. defense firms exist because of sustained government funding and contracts.
- Treating them as purely private markets misleads policy choices and hides state-created dependence.
Financialization Warps Contractor Incentives
- Financialization and shareholder extraction changed contractor incentives away from delivering capabilities.
- Contractors prioritize profits and shareholder returns over meeting budget and performance targets for the Pentagon.