Book Reviews

BOOKS Are There Too Many Lawyers? And Other Vexatious Questions by Joseph S. Fulda Foundation for Economic Education. 1993 • 121 pages. $14.95 paperback Reviewed by David M. Brown I n the title essay of this new collection, the author considers not merely whether we have "too many" lawyers, but what it is about law itself that makes it a different commodity than, say, shoes. We wouldn't normally worry about whether there were too many shoemakers on the market (so long as an overproduction of shoes isn't being subsidized by the Shoe Ministry). But a proliferation of lawyers may signal a deeper problem: a problem with the legal system itself, with the license for abuse it permits certain participants, like plaintive plantitfs. As Fulda writes, "legal services are fundamentally different from other services, simply because lawyers must use the law-the State-to give plain tiffs the property of defendants. Today's plaintiffs' bar is expert at using the law to attain wealth by what Albert Jay Nock called 'the political means' rather than 'the economic means'-i.e, by the redistribution of existing wealth, rather than the creation of new wealth."

This kind of probing of essentials is, of course, what we expect from The Freeman, the journal from which most of these pieces are taken. The essays divide primarily into two sections: a review of the foundations of liberty and the libertarian psychology, and the practical application of individualist principles to current policy questions. A third section considers issues of "narrow ethics. " Libertarian readers willbe inclined to nod their heads in agreement for the most part 639 over the basic theory. As usual, it's when theory gets applied that the most evident disagreements between philosophical com patriots emerge. For example, one can agree with Fulda's view in "Why Are There So Many Social Issues?" that our schools should not be an arena for governmental mediation of con flicting educational values. Certainly all schools should be private, free-market en tities, not a vast agglomerated public do main subject to coercively uniform stan dards. We really wouldn't need to debate prayer in the schools if parents had real liberty to pick and choose among competi tive schools with freely developed charters.

But ... we do have a genuine problem now, which Fulda admits his perspective cannot "reach"; namely, what do we do about such value conflicts now, as they have been engendered and perpetuated within the existing public educational system? We can agree that the conflict may be insolvable under present circumstances, while yet not ing it still needs to be dealt with. Do we tell parents, "Sorry, just keep squabbling until everything is privatized?" The courts have to make some kind of ruling when they get these cases, after all. A philosophy of indi vidualism and freedom should be able to help us out here to some extent. Moreover, social issues tend to be a little more funda mental and persistent than I think Fulda allows for; the conflicts are not simply generated from scratch by the government's involvement. They are often what provoked that involvement in the first place. Probably the most controversial essay in the collection will be "Abortion: Is Pro Choice a Libertarian Position?" This is an issue that has seen endless wrangling in all ideological camps. Fulda rebukes the' 'pro choice" position for ignoring the truth that freedom of action entails responsibility for the consequences of one's acts. And he calls abortion an "act of coercion," a claim that has been less mildly asserted in other quar ters. Now, granted, the right of freedom, if it is to remain coherent, must incorporate a ban on initiatory coercion against others.

But the question is, which others? The 640 THE FREEMAN • NOVEMBER 1994 strength of Fulda's case against abortion as legally permissible rests, obviously, on the nature and status of the fetus during the various stages of pregnancy. Exploration of that key issue is missing here. But enough of wrangling! This volume also includes an essay-review of Michael Levin's Feminism and Freedom; helpful discussions of "freeloading" (externalities and all that), charity, scandals, and certain issues in higher education; and a brief essay on the hidden danger of getting too uptight about "appearances of impropriety. " These are bite-sized, lucid, often persua sive essays that are informed by a solid understanding of how freedom works and what is its moral justification. We can be grateful to FEE for publishing them under one roof, and to their author for the clarity of his insight. D Mr. Brown is a freelance writer.

The Economics and Ethics of Private Property: Studies in Political Economy and Philosophy by Hans-Hermann Hoppe BostonIDordrecht/London: Kluwer Academic Publishers. 1993 • 265 pages. $59.95 Reviewed by N. Stephan Kinsella I n 1989, Professor Hans-Hermann Hoppe published A Theory of Socialism and Capitalism: Economics, Politics, and Ethics (BostonJDordrecht/London: Kluwer Aca demic Publishers, 1989), arguably the most important book of the decade, if only for the revolutionary "argumentation ethic" defense of individual rights presented in Chapter 7, "The Ethical Justification of Capitalism and Why Socialism is Morally Indefensible. " Hoppe continues to produce a significantassortment of articles elaborat ing on his argumentation ethic and the epistemology that underlies it, as well as on his impressive economic writings. His new book, The Economics and Ethics ofPrivate Property, is a collection of many of these related writings published up until 1992.

Because the chapters in the book were published separately as independent arti cles, there is some overlap between them, and thus some redundancy. A few times the text of several paragraphs in one article is reproduced verbatim in another article. In the "Appendix: Four Critical Replies" section, Hoppe's responses to various crit icisms, published in Liberty and the Aus trian Economics Newsletter, are reprinted. However, the initial criticisms themselves (by David Osterfeld, Leland Yeager, David Gordon, Tibor Machan, David Conway, Loren Lomasky, et al.) to which Hoppe is responding are not published. This is unfor tunate, because these criticisms are inter esting and enlightening, and also make Hoppe's response to them more compre hensible. The book is divided into two parts, "Eco nomics" and "Philosophy." Because the second part contains Hoppe's most impor tant ideas-his defense of individual rights-I will discuss his philosophical views first.

Philosophy: Argumentation Ethic Hoppe's ingenious "argumentation eth ie" theory states, briefly, that all truths, including ethics and normative statements, must be able to be arrived at through the process of argumentation. This is undeni able, as one would have to contradict one self in using argument to deny this. There fore, whatever facts or norms anyone must presuppose while engaging in argumenta tion cannot be contradicted by any proposed fact or norms. (pp. 180-181) Several things are implied in argumenta tion whose validity cannot be disputed. One is, for example, the universalization princi ple, as formulated in the Golden Rule of ethics or in the Kantian Categorical Imper ative, whic~ states "that only those norms can be justified that can be formulated as general principles which without exception are valid for everyone." (p. 182) Another one of the things presupposed by anyone engaging in argumentation (or, indeed, any discourse at all, even with oneself) is the right of self-ownership of all listeners and even potential listeners: for otherwise the listener would not be able to freely consider and accept or reject the proposed argument, which is undeniably a goal of argumenta tion. (p. 183) The concomitant right to homestead pri vate property is also presupposed by anyone engaging in argumentation: since the use of natural resources-Le., property rights in land, food, water, etc.-is absolutely nec essary for any listener to survive and be able to participate in an argument, and since homesteading unowned property is the only objective, conflict-free way to assign prop erty rights, all arguers must also presuppose the validity of the homesteading of unowned property, the Lockean "mixing of labor"

with scarce resources, for otherwise argu mentation could not occur. (pp. 184-186) And of course the right to self-ownership plus the right to homestead justify the non aggression principle and are the bases of laissez-faire capitalism. Professor Hoppe's discovery of such a rock-solid defense of individual rights is a profoundly important achievement. So many of Hoppe's insights deserve further exploration and development, that one wel comes future writing by Hoppe and others building upon his work. In the September 1988 issue of Liberty, Hoppe presented his argumentation ethic in an article entitled "The Ultimate Justifica tion of the Private Property Ethic. " A sym posium discussing this article appeared in the November 1988 issue of Liberty, con taining the critical comments of ten liber tarian commentators. Amazingly, almost all of these libertarian commentators were unimpressed by, if not downright hostile to, Hoppe's argument.

Only Murray Rothbard gave Hoppe's thesis wholehearted endorsement and recognized its validity and significance. Why Hoppe's ideas, which are such an important advance in political and libertarian thought, have failed to cause more excitement or gain more adherents than they have is baffling. But the best solution to this is the publicaBOOKS 641 tion of further elaborations and defenses, which is what Hoppe's newest book is. Economics Part One, on economics, contains five interesting and insightful chapters. In the first, Hoppe shows that the distinction be tween "private" and "public" goods is completely illusory, thereby removing any justification for state monopolization of the production of security, long held to be a "public" good. In Chapter 2, "The Economics and Soci ology of Taxation," Hoppe shows that taxation, by decreasing the marginal utility of producing wealth, leads to a shift away from the production of wealth, and towards consumption and leisure. Therefore taxa tion is a means for the destruction of prop erty and wealth-formation. (pp. 28-29) Ad ditionally, because of time preference-the fact that people prefer present goods over future goods-the decrease in the marginal utility of producing wealth leads to a short ening of the structure of production, and thus fewer valuable future assets are pro duced. (p. 34) After showing that taxes reduce the stan dard of living of consumers, Hoppe dis cusses the sociological reasons why there is taxation, and ever more of it. Basically, there is taxation because a majority of the population either actively or passively sup port such governmental policies, and they do so because of the lack of (complete, principled) acceptance of a private property ethic, and because of government propa ganda and methods such as democracy and welfare that amount to vote-buying.

His discussion of banking and the inter national economic order is the most provoc ative chapter in Part One. Here Hoppe explores how and why the state monopo lizes money and banking, and shows the danger of the ever-approaching interna tional monetary order. Here he explains why "[t]he monopolization of money and banking is the ultimate pillar on which the modem state rests." (p. 70) Chapter 4 reinterprets the Marxist theory 642 THE FREEMAN • NOVEMBER 1994 of history from an Austrian economics per spective. Hoppe points out that Marx's theory of exploitation is flawed because, in maintaining that there is exploitation when a capitalistretains a surplusprofitafter paying a laborer, it does not take into account nor "understand the phenomenonof time prefer ences as a universal category of human ac tion." (p. 97) The final chapter contains an illuminatingdiscussion of the Austrian theo ries of employment,money, and interest, and demolishesKeynes's "new" theory with this intellectualammunition.

Conclusion The Economics and Ethics of Private Property contains cutting-edge economic theories and breakthroughs in epistemology and individual rights theories. As Hoppe points out, in the·long run, immoral govern ment policies depend upon the tacit support of the majority of the population. The only way to win more recognition and enforce ment of our individual rights is to educate our fellow men of the truth and wisdom of freedom. The publication of works like Hoppe's, with an uncompromising, hard core-and, more importantly, correct defense of liberty, certainly advances this cause. [] Mr. Kinsella practices computer and software patent law with Schnader, Harrison, Segal & Lewis in Philadelphia. A more in-depth review of this book may be found at 25 St. Mary's Law Joumal1419 (1994). The Dream and the Nightmare: The Sixties Legacy to the Underclass by Myron Magnet William Morrow & Co.•1993.256 pages.

$20.00 Reviewed by Lawrence Person I n 1984, Charles Murray's Losing Ground brought the topic of welfare reform to the forefront of political consciousness. With impeccable research and meticulous logic, Murray marshaled a vast array of statistics to support his assertion that the huge ex pansion of government welfare programs resultingfrom the Johnson Administration's "War on Poverty" had actually harmed those it had intended to help. By making welfare more attractive to single mothers than marriage or entry-level jobs, Murray argued, the federal government created' 'in centives for failure" which lured the poor, and especially poor blacks, offthe economic ladder to success and into an intergenera tional cycle of dependence and illegitimacy. Though controversial when first pub lished, large portions of Murray's thesis have come to be accepted among the polit ical establishment, even in such unlikely places as the Clinton White House. Man hattan Institute Fellow and Fortune Edito rial Board member Myron Magnet agrees with Murray, but only to a point. In The Dream and the Nightmare, he argues that Murray's purely economic analysis pro vides an incomplete picture of the true causes of the underclass, that Murray and other policy analysts have left "a hole inthe theory. " And in that hole, Magnet argues, you'll find "culture."

He argues that it is culture, or rather its lack, that has mired the underclass in per petual poverty. Even faced with the per verse incentives to fail that welfare offers, most people would still choose work and marriage out of a sense of self-worth and respect for community standards. The rea sons that the underclass has not done so, he argues, is that the counterculture of the 1960s turned traditional values upside down. Though this revolution was one car ried out largely by the "Haves" in an effort to "liberate" themselves from what they perceived as the oppressive moral con straints of their parents' generation, Magnet argues that its long-term harm to most of the "Haves" was subtle, while its effects on the "Have-Nots" was devastating. According to Magnet, it is this "poverty of spirit" which has turned large portions of America's cities into drug-infested, crime ridden wastelands. Inner-city children grow up in households of single welfare mothers who are incapable of teaching them the cul tural values of hard work, thrift, and individ ual responsibility-the very values needed to climb out of poverty. To support that thesis, he presents an impressive array of statistical and anecdotal evidence to paint a devastat inglybleak picture of underclass life, and that portrait is the strongest portion of the book.

In painting that picture, Magnet describes the pathology of the underclass with an unwavering eye, exploding many myths in the process. Despite liberal protestations to the contrary, the underclass does exists, and is disproportionately composed of inner city blacks. Lack of economic opportunity does not explain the existence of the under class, since it first appeared during one economic boom and continued to grow dur ing another. Moreover, the harsh conditions of the inner city haven't prevented Asian entrepreneurs from flourishing there. The homeless are not down-on-their-Iuck work ing families, they're mentally ill alcoholics and drug addicts-and their numbers are closer to 300,000 than the three million figure homeless "advocate" Mitch Snyder pulled out of the air one day. But describing the underclass is only part of The Dream and the Nightmare, with much of the rest taken up by Magnet's explanation of how the Have-Nots came to live in such a condition of self-perpetuating misery. In this he seems to be shadow boxing with Losing Ground, not because he feels Murray's thesis is fundamentally wrong, but because he's the only worthy opponent on the scene. Indeed, he calls the book "superb" and Murray "the profound est of all commentators on the underclass. "

But ultimately Magnet does a less convinc ing job of presenting his case than Murray did of his. While Magnet's judgment about the lack of values among the underclass is quite convincing, his arguments about how they got that way are far less so. What's more, his prescriptions for restoring those values are either vague, nonexistent, or woefully misguided. When Magnet speaks of the countercul ture, he has in mind not Woodstock or anti-war protesters, but a shift in cultural BOOKS 643 opinions among certain American elites in the late 1950s and early 1960s. As such, Magnet's view of the counterculture is both highly selective and overbroad. We get no mention of Abbie Hoffman, Jerry Rubin, or Paul Krassner, but plenty of Norman Mailer, Michael Harrington, Paul de Man, WilliamRyan, and (more improbably) Tho mas Szasz. It is these and other elite think ers, Magnet argues, that gradually shifted the culture of the Haves toward belief in...

Well, there's the problem. While Magnet spends several chapters documenting various social ills (crime, strained race relations, declines in higher education) then linking their origin to vari ous influentialbooks and academic theories, he never adequately articulates just what constitutes the "Sixties Legacy to the Un derclass." Instead, he merely catalogs sev eral disparate parts of this supposed legacy that never seem to coalesce. In fact, the scope of Magnet's theory is eventually his undoing. Of the various har bingers of cultural change he cites, most have little in common save a vaguely leftist slant and (usually) a de-emphasis of per sonal responsibility. Indeed, the "Cultural Revolution" he speaks of is simultaneously so broad and so selective that just about any theory or cultural ill can be shoehorned underneath its rubric. Besides being unable to prove its central theory, The Dream and the Nightmare also suffers from a number of lesser flaws. After debunking so many myths, Magnet falls prey to one of the most pernicious, that of the 1980s as a "Decade of Greed." Even though he once again lays blame at the feet of his cultural elites rather than the usual scapegoat of Ronald Reagan, by accepting the existence of some overreaching cultural zeitgeist characterizing each decade he suc cumbs to facile overgeneralization at its worst. Though adept at puncturing media myths about the underclass, his casual ac ceptance of this most overbroad of cliches leaves the impression that he is truly out of touch with the deep currents and eddies of the broader American culture with which he is so vitally concerned.

644 THE FREEMAN • NOVEMBER 1994 Part of this seems due to a distinctly "New York Centric" viewpoint. For exam ple, when he states that the Hispanics mak ing up the underclass are "primarily" Pu erto Ricans, he displays a rather shallow knowledge of conditions in the other 49 states, especially California. And when Magnet says that "no one seems to have much good to say about the standard-issue eighties and nineties middle class youth," one gets the impression that he doesn't get out of New York much. Finally, Magnet tends to ignore or down grade important evidence that supports competing (i.e., economic) theories of un derclass formation. Two of the three exam ples he puts forward as showingthe primacy of culture in "The Hole in the Theory" (of Eugene Lang's offer of college scholarships to all students in an inner-city class who graduated from high school and of Kimi Gray's transformation of the Kenilworth public housing project) could easily be ar guedjustas successfully from an "economic primacy" standpoint. Despite an otherwise excellent analysis of homelessness, he ig nores WilliamTucker's landmark studies of the strong link between homelessness and rent control policies-a lapse that is espe cially puzzling since Tucker's work was partially underwritten by the Manhattan Institute.

As far as offering solutions to the under class problem, Magnet's general ideas for restoring personal responsibility and indi vidual rights are good, but what few specif ics he offers are woefully misguided. His suggestion for creating government-run "group shelters" in the place of current welfare programs ignores the law of unin tended consequences and the mischief that government is able to work with just about any social program. Likewise, his argument for "Head Start"-type programs for pre schoolers in the same paragraph ignores the mounting evidence that these have little or no long-term effect. Still, despite all the foregoing, The Dream and the Nightmare is a much better book than this list of flaws would lead you to believe. Though Magnet's reach has definitely exceeded his grasp, his book's virtues are great, its sins, more of omission than intent, relatively small. While his diagnoses of the causes and cures of underclass pa thology are unconvincing, his description of the disease itself is valuable for its depth and accuracy. Though it doesn't replace Losing Ground, it does provide an extra dimension to the welfare debate, and functions as a handy source book for how that debate has developed over the last decade. D Mr. Person is former editor of Citizens Agenda.

His work has appeared in National Review, Reason, and other magazines. Telecompetition: The Free Market Road to the Information Highway by Lawrence Gasman Cato Institute, Washington, D.C.• 1994 • 177 pages. $12.95 paperback Reviewed by Raymond J. Keating T echnological change has pushed the telecommunications-information indus try into a dramatic and exciting phase of development. Information has always been a most valuable commodity, and now the means of storing, moving, and manipulating it are advancingrapidlywhilecosts plummet. In turn, such developments are altering the world economy. The globe is shrinking as international competition intensifies. Rather than ensuring the ascendance of large multinational corporations or en hancement ofgovernment controls, as many have feared, the revolution in telecommu nications and computers has empowered individuals and increased the mobility of capital. Both economic competition and the ability of labor and capital to avoid, for example, severe taxation and regulation are enhanced.

Ironically, however, just as technological developments are strengthening the power and productivity oftbe individual, the question dominating current public policydebate is the extent of state's role in the telecom munications market. Should we be centrally planning a government-led telecommunica tions industrial policy, or turning to a com petition-based, market-driven telecommu nications industry? Persuasively weighing in on the side of deregulation and freer markets is Lawrence Gasman with his book Telecompetition. Gasman makes a compelling case for how the convergence of industries and enhanced competition not only support, but necessi tate the deregulation of telecommunica tions. Of course, deregulation also is called for due to the plodding nature of govern ment, which remains a severe roadblock to expanding the reach of new technologies. In fact, Gasman declares: "The general igno rance of technological developments dis played by those who regulate the telecom munications industry is appalling. It also indicates why one cannot expect too much from the government when it comes to a successful industrial policy for the telecom munications industry." Another reason for low expectations is governmental ignorance of how markets work.

Telecommunications advancements are blurring the lines drawn by regulators who try to neatly separate industries. The author notes the fluid nature of information format and storage: "Once it is digitized, voice, video, text, and data are all much the same. . . . [N]ew forms of multimedia com munications are emerging in which text, voice, and image communications are com bined in a single interactive, user-friendly format." Gasman continues: "It is this flu idity of information formats that constitutes convergence. Convergence has resulted from both the recognition that all informa tion can be converted into the same binary digitalform and the developmentof micro electronics that makes such a conversion possible while providing the means for con veniently and economically manipulating digital information. Convergence is not only central to the Information Age, it affects every level of information technology hardware, software, and services."

BOOKS 645 Gasman masterfully illustrates how con vergence seriously undermines the govern ment's rationale for extensive telecom munications regulation. For example, he argues that in light of alternative-access carriers and local wireless communications, it is becoming increasingly difficult to legit imately refer to a "local telephone monop oly." In this era, in fact, the source of any true monopoly power emanates from the government. Gasman observes the detri mental effects of an exclusive government franchise: "The existence of communica tions monopolies slows the introduction of new and innovative services by the indus try. The cable-telco dispute is just one example of how government-created mo nopolies and misguided antitrust action can delay new services." The author predicts that absent govern ment interference, for example, "an eclectic industry structure for local video distribu tion might well grow up, designed to fit the needs of local markets. In some areas, telephone companies would supply both the video programming and the channels through which that programming is carried.

In others, cable companies would supply programming through the telephone-com pany networks.... In a few areas we might see cable companies upgrade their own networks with switchinggear to enable them to offer the kinds of advanced voice and video services that seem today to be the sole province of telephone companies." Gasman argues for allowing local tele phone companies to enter any local, re gional, national, or international business they choose-' 'inside or outside the tele communications field." Likewise, "any company financiallyand technically capable of offeringlocal telephone service should be free to do so." Gasmanalso makesa compellingcasefor a pure property-rights system regarding the broadcast spectrum, rather than the current government allocation and temporary li censing system. In lieu of suffering through government delays and politicization, "if spectrum allocation were left to market forces, the providers of new services would 646 THE FREEMAN • NOVEMBER 1994 bid directly for the spectrum owned by existing users." Gasman draws a straight forward analogy: "Just as landowners are given title to a particular piece of real estate, spectrum owners would receive a title, al lowing them to transmit at certain frequen cies with specified powers from given loca tions. And just as landowners can buy and sell properties, spectrum owners would be allowed to buy and sell their transmission rights. The result would no doubt be speed ier deployment of new services responding to consumer rather than government inter ests." Again, the plodding hand of govern ment must be replaced by the dynamics of the marketplace.

Proponents of a government information infrastructure also are refuted in Telecom petition. Instead of taking the telecommu nications infrastructure on another trip down the misdirected path of industrial policy, Gasman sagaciously concludes: "Eventually private initiative will undoubt edly produce a network offering all the broadcast services infrastructuralists are so eager to produce with taxpayers' dollars. The difference is that private companies will be certain to produce services businesses and consumers want to buy." As the author notes, much oftelecommunications regulation springs from the econ omist's use of the perfect competition model. A perfectly competitive market where all companies are price takers and offer homogeneous products is an economic fairy tale. Unfortunately, it also can be turned into economic nightmare when wielded by government officialswho seek to regulate when a market fails the perfect competition test. To the contrary, a dy namic, entrepreneurial economy will be flush with temporary monopolies-a result of creation, innovation, and competition.

This should nowhere be more evident than in the telecommunications industry. If gov ernment establishes and protects property rights, and then largely gets out of the way, as Lawrence Gasman suggests, consumers and the economy will reap great rewards. Telecompetition is a highlyreadableprimer on the often complex subject of telecommu nications public policy. One can only hope that such market-orientedwriters as Gasman, along with George Gilder and Peter Huber, prevail in the government-vs.-the-market strugglein telecommunications. D Mr. Keating is Director ofNew York Citizensfor a Sound Economy.

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