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1.
Assholes that run our world by making wars and pulling profit of this permanent war economy
Ex : Iraqi invasion is fault of the Military Industrial Complex
by NathanG September 27, 2006
 
2.
President Dwight D. Eisenhower coined this term in his farewell address to refer to "a conjunction of an immense military establishment and large arms industry".

Here's how it works: our taxes support a massive military budget which is doled out to large defense contractors. These corporations use this money to buy politicians and impel the United States to enter unending wars in order to assure that their contracts never end and grow increasingly bloated.
Dick Cheney was Defense Secretary, CEO of Halliburton, and then Vice President of the United States, and is a key member of the military industrial complex. It kinda explains why Halliburton is profiteering off all these wars.
by khashishi April 11, 2010
 
3.
Refers to the friendly relationship between those in charge of defending the homeland and the industries that produce the equipment and weapons needed to fight a war. Could be summarized as a 'war-for-profit' scheme.
Person 1: ...but why on earth would a nation's leaders be willing to sacrifice human life as an excuse to start a war?

Person 2: Man, haven't you heard about the military industrial complex?
by Mr.Correct1985 May 25, 2009