May

WelfarismGone Wild Henry Hazlitt 265 Social welfare expenditures exceed $170 billion in 1971, with no end i'n sight. Th'e Foundingof the American Republic: 10. The Declarationof Independence Examining it in context, for its relevance then and today. Clarence B. Carson 273 The Causes of Inflation Hans F. Sennholz 284 Welfare and redistribution programs inevitably lead to a government monopoly of money and inflation. To Be Free and Equal Ray L. Colvard 293 If we must err concerning our differences, may it be on the side of freedom. Status: End Product of Welfare Morris C. Shumiatcher 297 A review of a century of welfarism among the Indians of Canada, with lessons for all of us who may be tempted onto that backward path to a feudal society. Book Reviews: "Power Through Subversion" by Laurence W. Beilenson "Man, Economy and State"by Murray Rothbard Anyone wishing to communicate with authors may send first-class mail in care of THE FREEMAN for forwarding.

316 319 tt1e 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, 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 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 "Welfarism Gone Wild/' and "Status: End Product of Welfare."