August

SAVE·BY·MAIL - We pay postage. MEMBER: Federal Savings and Loan Insurance Corp. Federal Home Loan Bank. "A Businessman Looks at Communism Vs. Capitalism" For your courtesy copy of President Joe Crail's speech, write to: Coast Federal Savings Post Office Box 5150A Los Angeles 55, California 5·56A·2 VI' Professor Carson explains "The Flight from Reality" that allowed for the domestication of socialism in the V Our old friend Bastiat offers some words of wisdom to the democrats of France in 1850 p. 58 V Leonard Read examines various manifestations of power and the way in which individuals are corrupted by each p. 47 V Until individuals understand the ways and means of self-government, constitutional forms are unlikely to preserve freedom. . ..p. 44 ............. p. 29United States . v The new inexpensive paperbacked edition of Henry Grady Weaver's The Mainspring of Human Progress appeals to John Chamberlain-as it will to you .

............ p. 61............ p. 27 VI' Freedom, says this philosopher, is not so much the total absence of re straint as the discovery of the true authority on which orderly lives de pend. .... ... p. 3 VI' A thrilling account of the voluntary response to the disastrous situation after last year's earthqua'ke in Alaska . . p. 11 VI' Dr. Sennholz analyzes the three components of so-called profits, the role of each, and the consequences of intervention. ..... p. 15 VI' The Labor government in Britain is harvesting the awkward fruits of excessive central planning p. 23 VI' A modern version of "the hole in the dike" in a socialized economy. Anyone wishing to communicate with authors may send first-class mail in care of THE FREEMAN for forwarding.

AUGUST 1965 LEONARD E. READ PAUL L. POIROT Vol. 15, No.8 President, Foundation for Economic Education Managing Editor THE FREEMAN is published nlonthly by the Foundation for Economic Education, Inc., a non political, nonprofit educational champion of private property, the free market, the profit and loss systenl, and limited government, founded in 1946, with offices at Irvington-on-Hudson, New York. Any interested person may receive its publications for the asking. The costs of Foundation projects and services, in cluding THE FREEMAN, are met through volun tary donations. Total expenses average $12.00 a year per person on the mailing list. Donations are invited in any amount - $5.00 to $10,000 --- as the means of nlaintaining and extending the Foundation's work. Copyright, 1965, The Foundation for Economic Education, Inc. Printed in U.S.A. Additional copies, postpaid, to one address: Single copy, 50 cents; 3 for $1.00; 25 or more, 20 cents each.

Permission is hereby granted to anyone to reprint any article in whole or in part, providing customary credit is given, except HFreedom's Uneasy Conscience," "In Tribute to an Unsung Hero," "The Flight from Reality," and "To the Democrats." Any current article will be supplied in reprint form if there are enough inquiries to justify the cost of the printing.