War and Foreign Policy

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Laurence M. Vance

One of the pillars of an interventionist US foreign policy is foreign aid. Since World War II, the United States has dispensed billions of dollars in foreign aid to virtually every country on the planet. Foreign aid was lavished on our friends and our foes during the cold war and a decade after. It is extended to both sides of military conflicts. It is even accorded to countries that regularly vote against the US in the UN. The recipient countries are less likely to reform their economies once they get on the US dole.

Llewellyn H. Rockwell Jr.

Both Ludwig von Mises and F.A. Hayek were called upon during wartime to weigh in on the question: what is the best economic policy in the conduct of war? Both were opposed to using war as a device for socializing the economy. If a war must be waged, they argued in their roles as value-free economists, better to contract-out the building of munitions to private companies rather than attempt to do it through nationalization and administrative edict.