The World at War

To understand war, you also have to understand economics. Ralph Raico’s lecture “The World at War” is a masterpiece. Recorded in 1983, it remains perhaps the best introduction to the classical-liberal interpretation of the two world wars of the twentieth century. Raico touched on many of the topics he discussed in this lecture in his other writings, but he never wove them all together as concisely as he does here. Raico’s interpretation and insights into the causes of perpetual war are much needed today in light of the war-hungry, interventionist politicians that keep the economy on a warfare footing for their own political gain.

Raico was tutored by Ludwig von Mises, Friedrich Hayek, and Murray Rothbard. All were economists and mentors of sorts, giving Raico his unique understanding of what causes war. Raico was the embodiment of Mises’s master historian, whose interpretation of the past is rooted in sound economic theory.