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If you are looking at pure economic activity then yes but all economic activity must be viewed based on "quality" of said activity. Do we want people spending time and resources building weapons of mass destruction or do we want that economic activity going towards exploring outer space, developing new technologies that benefit humanity positively and so on. Unfortunately, it is mutually exclusive because Earth only has so much "potential" human ability so we must determine where that human potential is being used.

It's hardly mutually exclusive. Many military problems are simply human problems and because of their low tolerance for error, military systems are often very good solutions that provide large non-military benefits.

The DoD needed a better way to navigate, so they invented GPS. They needed more robust communications, so they funded the internet. They needed to predict the weather to plan operations, so they funded weather radar and satellites. Even the US interstate system was supported in large part because the military wanted to have fast easy cross country logistics.

I guess that takes care of any moral qualms anyone could have.

https://en.wikipedia.org/wiki/Parable_of_the_broken_window