Library of the Works of Ludwig von Mises”. Here is an article he wrote in 1951, some two years after his magnum opus Human Action appeared, where is lays out his case in a more popular form. The money sentences are “Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis. It has happened again and again in the past, and it will happen in the future, too.
Imperialism is the factor in American policy, not just since 1898, but in fact long before it when we were expanding across this continent and taking away Indian lands in order to enlarge the territory of the United States. We have been an imperial power and an expansionist power for a very long time.
If we have learned anything in the past ten years, it is that these lovely things about America were never lovely. We have been expansionist and aggressive and mean to other people from the beginning. And we've been aggressive and mean to people in this country, and we've allocated the wealth of this country in a very unjust way. We've never had justice in our courts for the poor people, for black people, for radicals. Now how can we boast that America is a very special place? It's not that special. It really isn't.
