June

"I Was a Slumlord ..." An East Harlem owner buys his freedom from rent controls. George Frank 365 Business Baiting - 1972 Style Merryle Stanley Rukeyser 367 A plea for an attempt to understand the nature and function of business before destroying the entire economy. Blood from Turnips Terrill I. Elniff 372 Notes toward an understanding of John law's economic errors. Book Reviews: "Welfare: Hidden Backlash" by Morris C. Shumiatcher "Joseph Story and the American Constitution" by James McClellan Anyone wishing to communicate with authors may send first-class mail in care of THE FREEMAN for forwarding. 378 381 tile Freeman A MONTHLY JOURNAL OF IDEAS ON LIBERTY IRVINGTON·ON·HUDSON, N. Y. 10533 TEL.: (914) 591-7230 LEONARD E. READ PAUL L. POIROT President, Foundation for Economic Education Managing 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 invited 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 Founding of the American Re public," liThe Cure for Poverty" and III Was a Slumlord ... "