February

MAIN OFFICE 9th & Hill, Los Angeles SAVE-BY-MAIL-We pay postage. MEMBER: Federal Savings and Loan Insurance Corp. Federal Home Loan Bank. IF IT'S SAFETY YOU WANT MOSTOPEN YOUR SAVINGS ACCOUNT AT COAST "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-St:dl ~ Constant reminders are needed of the way prices function in a free market, and Professor Sennholz does it very well, indeed p. 3 ~ If the government is all of us, as we are so often urged to believe, then what about those taxpayers, asks Leonard Read p. 9 ~ Fred DeArmond points out that despite the rapid modern technolog ical developments - or, perhaps, be cause of them - there remains much about the nature of the universe that men do not comprehend p. 12 ~ A young businessman and airplane enthusiast finds a striking difference inefficiency between privately-oper ated and government-operated air lines, with a strong case for the profit motive p. 17 Y' Dr. Carson reviews the attempts and failures of utopians from the time of Sir Thomas More to date ........ p. 20 .~ Our astute co;rrespondent from England, George Winder, examines some of the problems and mercan tilistic "solutions" of their new Labour government p. 34 JII' Though not ordained, William Hen ry Chamberlin takes it upon himself to question the trend among religious leaders to look to government as their brother's keeper p. 38 ~ An old bill for electrical service, bearing a 1907 postmark, affords a sharp contrast in the trends of prices for postage stamps and kilowatt hours p. 44 ~ It's a long road from Eden to Par adise, observes Dean Banks, and those half-way houses between choice and compulsion are mostly mirages .. p.46 ~ Social security promises something for nothing but affords no way to get your own money back p. 55 ~ A noted business economist ex amines the record and finds no evi dence that "the government sector"

has been starved by the private' sector; quite the contrary p. 58 ~ John Davenport's appraisal of The U. S. Economy provides the stimulus for this month's review by John Chamberlain p. 61 Anyone wishing to communicate with authors may send first-class mail in care of THE FREEMAN for forwarding.

FEBRUARY 1965 LEONARD E. READ PAUL L. POIROT Vol. 15, No.2 President, Foundation for Economic Education Managing Editor THE FREEMAN is published monthly by the Foundation for Economic Education, Inc., a non political, nonprofit educational champion of private property, the free market, the profit and loss system, 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 maintaining 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 "The Flight from Reality" and "The Individual and the State." Any current article will be supplied in reprint form if there are enough inquiries to justify the cost of the printing.