Political Theory

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Carmen Elena Dorobăț

Mises had diagnosed these problems long before they became apparent.  In a series of essays written between the two World Wars—but also in Omnipotent Government published in 1944—, Mises showed that in a world where governments interfere in their domestic markets, and with the monetary system, and where (economic) nationalism prevails, it is pointless to hope for any political and economic resolution from supranational organizations. The best these institutions can do is prolong the disastrous effects of government policies, and postpone—though loans and bailouts—their inevitable collapse.