Journal of Libertarian Studies
Author:
Joseph R. Stromberg
Online Publish Date:
In 1792, Thomas Paine sounded a cautionary note about the economics of empire: The most unprofitable of all commerce is that connected with foreign dominion. To a few individuals it may be beneficial, merely because it is commerce; but to the nation it is a loss. The expense of maintaining dominion more than absorbs the profit of any trade. Had