Francis Wayland wrote (1837), "Of all the modes of national expenditure, the most enormous is that of war. In the first place, the expense of the munitions of war is overwhelming. In the next place, the most athletic and vigorous laborers must be selected for slaughter. Of these the time and labor are wholly unproductive. The operations of industry, in both belligerent nations, are thus greatly paralyzed. The destruction of property, in the district through which an army passes, is generally very great. All this must be taken from the earnings of a people; and is so much capital absolutely destroyed, from which multitudes might have reared, and have lived in prosperity."
Laurence M. Vance writes, "His emphasis on property, capital, entrepreneurship, and above all, his commitment to human action and not government action, makes his long-forgotten work on economics worthy of a revival."
Free scanned PDF copies of Wayland's books are available from Google Books.
Francis Wayland: Preacher-Economist - Laurence M. Vance - Mises Institute
When Government Shuts Down
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