"The empire can and should be dismantled. 1949 was a crucial mistake—a pivot point that has led to this massive fiscal and political crisis that we have in America today. This is pretty evident to a lot of us, but it was evident to Mises in 1949, and I think we should have followed his advice."

Presented at the 2024 Human Action Conference on Friday, 17 May 2024, at the Mises Institute in Auburn, Alabama.