September

Water Famine on the Hudson . Leonard E. Read 3 Currency Reform . Hans F. Sennhol z 17 Central Planning: Side Door to Socialism . Robert M. Thornton 48 61John Chamberlain Books: The Libertarian Movement and Its Propaganda . Alexander Evanoff 55 SEPTEMBER 1965 Be Responsible . Alexander s. Carney 13 The Icarians at Nauvoo. Paul M. Angle 40 IIEvery Employee Is Entitled to a Fair Wage ll C. w. Anderson 38 The Flight from Reality: 12. The Democratic Illusion. Clarence B. Carson 23 Think of That! .

COAST FEDERAL SAVINGS AND LOAN ASSOCIATION Department F, 9th & Hill Sts., Los Angeles, California 90014 o Please send me a FREE copy of "What's Inflation?" o I enclose my check (or money order) for $ _ o Please open a Coast Federal Savings accounto Individual o Joint in the name(s) of NAME _ STREET ---------CITY STATE _ 5-1l2A Q ~ COAST FEDERAL SAVINGS _. AND LOAN ASSOCIATION '~:e:..... '~I) J;1f' Of course the government can op erate a water system, but the market may afford the only way out of the inevitable famine resulting from controls ............ p. 3 J;1f' A young man explains to this year's graduating class why it is so impor tant to assume self-responsibility ............ p. 13 J;1f' Dr. Hans Sennholz examines vari ous proposed currency reforms grow ing out of the present inflationary crisis . .. , p. 17 /;II' The meaning of democracy had to be changed, explains Professor Car son, before democracy could become an instrument for change rather than a conservative influence ........ p. 23 ],111 "Chet" Anderson examines the proposition that "every employee is entitled to a fair wage." p. 38 ],111 A neglected chapter of the experi ments with socialism includes the story of the Icarian colony at Nauvoo, Illinois, a century ago ...... ... p. 40 J;1f' Robert Thornton explains why cen tral political planning is incompatible with freedom and prosperity, and shows substantial support for his po sition among the intellectuals ............ p. 48 ],111 A sound libertarian movement must rely on promotional methods con sistent with the freedom of choice for which it stands p. 55 J;1f' The Free Market and Its Enemy by Leonard Read affords the foundation for John Chamberlain's review ............ p. 61 Anyone wishing to communicate with authors may send first-class mail in care of THE FREEMAN for forwarding.

SEPTEMBER 1965 LEONARD E. READ PAUL L. POIROT Vol. 15, No.9 President, Foundation for Economic Education ll!anaging 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 Icarians at Nauvoo." Any current article will be supplied in reprint form if there are enough inquiries to justify the cost of the printing.