October

What Does America Owe to the "Third World"? Neera Badhwar 585 A reasonable doubt as to the efficacy of intergovernmental foreign aid. Why Gold Is Money Traders decide which form of money to trust. Robert L. Guarnieri 592 Why Is Liberalism Endemic? Charles R. LaDow 595 Concerning the continued popularity of a social system that is such a failure. EconomicCalculation Brian Summers 602 Socialism cannot function without a means for economic calculation. M'arx, Mises and Socialism Dave Osterfeld 605 Further thoughts concerning the vital role of the market and money for economic calculation. Regulation Helps the Rich and Harms the Poor A cogent reason Why government should be limited. Bernard H. Siegan 612 Dog-Eat-DogCompetition M. Northrup Buechner 614 Market competition is the activity of two or more parties pursuing the same customers' dollars by offering the highest values in exchange. The High Cost of the Draft Robert McNown and Dwight R. Lee 627 The question here concerns who should pay the bill.

Laws Versus Tyranny Obedienceto the moral law brings p·eace and harmony. Book Review: "Gibbon for Moderns" by Peter B. Witonski Leonard E. Read 632 637 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. 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 in vited in any amount-$5.00 to $10,000-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 "Regulation Helps the Rich and Harms the Poor," "Dog Eat-Dog Competition," and "The High Cost of the Draft."