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This was a paper I did for the U.S. Army Sergeants Major Academy. I had fun doing it, but due to limitations of the assignment, I didn't have options to flesh out the arguments further (to include the counterpoints, which I felt were rather weak). Admittedly, this is biased towards my libertarian side, but at least provides food for thought.
Regardless of your conclusions, you may find the "references" section contains a few interesting resources worthy of attention.