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Editor's Pick

The Southern Cause: What Led to Secession

The simple narrative today of the southern secession in 1860 and 1861 is that the southern states believed that the institution of slavery was being threatened, so they left the union. However, the real causes are more complex and do not fit any preconceived narrative.

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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.