February

Magic, Envy, and Economic Underdevelopment Gary North 80 Reasons why Western prosperity can't be transplanted successfully in many lands. Gold is Honest Money Hans F. Sennholz 88 Some helpful signs for traders seekinga return to sound money. Blundersof the FoundingFathers Cha,rles R. LaDow 95 Attending to a few chinks in the national armor. The Organizationor the Individual? William H. Peterson 105 The failure of modern economic theory lies in its preference for the organization rather than the individual. The Conceptof Value in Ethics and Economics The most important reason why a man chooses freedom. Book Reviews: "The Roots of American Order" by Russell Kirk "Mises Made Easier: A Glossaryfor Ludwig von Mises' HUMAN ACTION" by Percy L. Greaves, Jr. Ridgway K. Foley 115 124 Anyone wishing to communicate with authors may send first-class mail in care of THE FREEMAN for forwarding.

t11e 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, 1975. 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 IIMagic, Envy, and Economic Underdevelopment" and IIGold is Honest Money."