April

The Nature of Modern Warfare David Osterfeld 205 A study of the path to war via domestic welfare programs and departure from the market. The Economic-PowerSyndrome Sylvester Petro 212 Exploding the popular myth that business has a coercive power to impose its will upon consumers. The'BallooningWelfare State The higher the subsidy rate, the greater the number of claimants. Henry Hazlitt 226 The Foundingof the American Republic: 9. Prelude to Independence Clarence B. Carson 232 A study in slow motion of the final aggravations that brought separation. The Federal Reserve System Ha.ns f. Sennholz 245 A descriptive analysis of "the most important tool in the armory of economic interventionism. " Book Review: 254 IIWilimoore Kendall Contra Mundum" edited by Nellie D. Kendall Anyone wishing to communicate with authors may send first-class mail in care of THE FREEMAN for forwarding.

tile Freeman A MONTHLY JOURNAL OF IDEAS ON LIBERTY IRVINGTON·ON·HUDSON, N. Y. 10533 TEL.: (914) 591·7230 LEONARD E. READ PAUL L. POI ROT President, Ji"oundation for Economic Education ~1 anaging Editor THE F R E E MAN 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. Any interested person may receive its publications for the asking. The costs of Foundation projects and services, including THE FREEMAN, are met through voluntary donations. Total expenses average $12.00 a year per person on the mailing list. Donations are in vited in any amount-$5.00 to $10,000-as the means of maintaining and extending the Foundation's work. Copyright, 1972, 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; 10 for $2.50; 25 or more, 20 cents each.

Articles from this journal are abstracted and indexed in Historical Abstracts and/or America: History and Life. THE FREEMAN also Is available on microfilm, Xerox University Microfilms, Ann Arbor, Mich igan 48106. Permission granted to reprint any article from this issue, with appropriate credit, except "The Ballooning Welfare State."