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President Trump has announced his intentions for the government to set up a sovereign wealth fund. However popular the idea might be, it runs headlong into the realities of economic calculation and would soon deteriorate another government slush fund.

While historian Walter A. McDougall was not a libertarian, nonetheless he had some Rothbardian insights on Woodrow Wilson and his reckless intervention into World War I. David Gordon notes that while McDougall‘s views on intervention were inconsistent, they still are useful.

Brian Doherty (Note: Below is the Introduction to the new book, Modern Libertarianism, A Brief History of Classical Liberalism in the United States, published by Lib​er​tar​i​an​ism​.org, a project of the Cato Institute, and available through Amazon and the Cato Store. The author, Brian Doherty, is a