In this lecture from the Mises Institute’s recent Conference on War Revisionism, McMaken looks at how classical liberals’ pro-peace foreign policy was defeated by a century of war propaganda beginning with the First World War.

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In this lecture from the Mises Institute’s recent Conference on War Revisionism, McMaken looks at how classical liberals’ pro-peace foreign policy was defeated by a century of war propaganda beginning with the First World War.
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These subsidies exemplify crony capitalism. The Austrian School of economics defines any subsidy as government intervention in the functioning of the economy.