The wars waged by England during the era of Liberalism to extend her colonial empire and to open up territories which refused to admit foreign trade, laid the foundations of the modern world economy. To measure the true significance of these wars one has only to imagine what would have happened if India and China and their hinterland had remained closed to world commerce. Not only each Chinese and each Hindu, but each European and each American, would be considerably worse off.
von Mises, “Socialism” p208 (translation of 2nd Edition, 1932, Liberty Fund)
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