The Journal of Libertarian Studies
The Neglected Costs of the Warfare State: An Austrian Tribute to Seymour Melman
Libertarians often point to “What Is Seen and What Is Not Seen,” a famous essay in which economist Frédéric Bastiat (1801–1850) makes perhaps the most important, if easily neglected, point in all of economics: to understand the economy properly we must consider not merely the immediate effects of a proposed government intervention on certain earmarked groups, but also its long-term effects on society as a whole.
Volume 22, Number 1 (2010)
Cite This Article
Woods, Thomas E. "The Neglected Costs of the Warfare State: An Austrian Tribute to Seymour Melman." Journal of Libertarian Studies 22, No. 1 (2010): 103–125.