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States, United States: America’s James Bond Complex

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Today, American politicians of both major parties — conservatives, “moderates,” and so-called liberals alike — insist that the United States is an “exceptional,” even “indispensable” nation. In practice, this means that for the United States alone the rules are different. Particularly in international affairs, it — the government and its personnel — can do whatever deemed necessary to carry ...

Power and Knowledge: Socialist and Militarist Calculation Problems

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Economist Ludwig von Mises argued (1920) that real prices arise only from exchanges of privately owned goods; having abolished such prices, socialist systems could never calculate rationally. Economist F.A. Hayek agreed with Mises that central planning would produce poverty and totalitarianism, but made the use of knowledge in society the central weakness of socialist calculation. In his view (1945), ...