August

Th'e Taking Issue Berna,rd H. Siegan 464 ... nor ~hall private property be taken for public use without just compensation. Price Competitionand Expanding Alternatives Gary North 467 The moral imperative to maintain the conditions of freedom if we would enjoy its blessings. A Proper Distrust Government without limits is unworthy to be trusted. W. Allen Wallis 476 Those Fellows with Black Hats - the Speculators John A. Sparks 478 A word in defense of the ones who speed up the market process of adjustment to change. The Business of UnderminingBusiness Some business practices strike at the roots of free enterprise. M. L. Zupan 490 The Energy Crisis: AlternativeFutures John B. Kizer 495 Many things are possible if scarce resources are privately owned and managed. Book Reviews: 501 "The 12·Year Sentence" edited by William F. Rickenbacker "Law, Legislation and liberty. Vol. I: Rules and Order" by F. A. Hayek "The Libertarian Alternative" edited by Tibor R. Machan "The Economics of Energy-What Went Wrong and How We Can Fix It" by Roger LeRoy Miller "The Time It Never Rained" by Elmer Kelton Anyone wishing to communicate with authors may send first-class mail in care of THE FREEMAN for forwarding.

the Freeman A MONTHLY JOURNAL OF IDEAS ON LIBERTY IRVINGTON-ON-HUDSON, N. Y. 1053·3 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 in vited in any amount-$5.00 to $10,OOO-as the means of maintaining and extending the Foundation's work. Copyright, 1974, 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.

THE FREEMAN is available on microfilm from Xerox University Microfilms, Ann Arbor, Michigan 48106. Some articles available as reprints at cost; state quantity desired. Per mission granted to reprint any article from this issue, with appropriate credit, except "The Taking Issue."