Governments have quite a history of doing the same.

That's one reason democracy is a good thing ... the people getting sent to fight and die have a say, less moral hazard, since most people don't benefit from war. If a king or a billionaire can get rich fighting a war and has the power to make it happen, you're going to have more wars.

It's probably better for civilization if a democratic government has a monopoly on extreme force like bombers, WMDs. War is sufficiently stupid, it's probably better if entrepreneurs don't disrupt it, and the military remains the one 100% socialist enterprise in America.