February 24, 2026
Military Power and the Economy

It is not at all true that economic prosperity depends on military power. For example, the so-called Italian economic miracle—and even more so that of all Europe and Japan—took place precisely when there was strong U.S. influence.

In fact, exercising influence in the world can be very costly and not very advantageous.

Trump won the election precisely on a platform of no longer intervening in the rest of the world; he will probably lose it because he seems to be doing the opposite.