Countless Americans have been repeatedly told to “follow the science,” supposedly to prove they are not obstinately closed-minded. But the main purpose of it all was just to open people’s minds to what government bureaucrats wanted.
The difficulty Trump encountered in trying to even slightly scale back American military schemes shows just how far Americans are from abandoning the idea that the United States is the indispensable nation entitled to fight wars always and everywhere.
Today's conflicts revolve around the desire to grab hold of someone else's property using the tool of compulsion that is the state. Would we be more peaceful and prosperous if it followed the liberal program? The question answers itself.
The impossibility theorem, developed by Nobel-winning economist Robert Mundell, paints a false tradeoff between the free movement of capital, fixed exchange rates, and effective monetary policy. Under a gold standard, all three are a possibility.