Book Reviews

THEFREEMAN IDEASON LIBERTY ClassicsReconsidered We asked several Freeman writers and book reviewers to select a significant book, or a personal favorite, published or reprinted within the last fifty years. Their choices are revealing and, in some cases, unexpected. All are worth sharing. John Attarian: Democracy and Leadership by Irving Babbitt Liberty Fund, 1979 (1924) F irst published in 1924, Irving Babbitt's De mocracy and Leadership remains one of this century's greatest works of political philosophy. Combining philosophy of history, a philosophy of civilization, deep reflection on human nature, and keen insights into the psychology of belief, it diagnoses modernity with matchless prescience. For Babbitt, man's noblest characteristic is "a will to refrain." Like Burke, he recognized that social existence requires checks on desire and impulse, and that true liberty therefore rests on self-control. Unfortunately, since the Renais sance the West has seen ever-increasing indul gence in desires and emancipation from author ity, culminating in Rousseau's advocacy ofman's natural goodness and yielding to one's desires.

Rousseau's expansive egoism gained domin ion because, Babbitt divined, man's main need is "to keep in good conceit with himself." Unwill ing to discipline himself to standards, preferring to "expand freely along the lines of his dominant desire," man accepted Rousseau's view "not because it is true, but because it is flattering." Babbitt foresaw in consequence increasing self indulgence and lawlessness; the advent of polit ical adventurers; substitution of "compassion ate" feelings for self-control as the index of virtue; and the rise of prophets of social service ravening for power and curtailing freedom. Babbitt's analysis rings truer daily. Skirting the pervasive errors of philosophical material ism, economic determinism, and preoccupation with politics, Babbitt fingers the true source of our woes: man's infinite appetites and moral indolence. Hence his peerless explanatory power.

Many observers now lament our decadence. None matches Babbitt's profundity. Who would understand modernity must read this book. 0 Dr. Attarian is afree-lance writer in Ann Arbor, Michigan. LeonardP. Liggio: The Servile State by Hilaire Belloc Liberty Fund, 1977 (1913) H ilaire Belloc (1870-1953) was indeed an Edwardian Radical as described in John McCarthy's biography (also published by Lib erty Press). The Servile State represented Bel loc's disgust with politics after serving in the House of Commons. He found politicians in control of organizing any new industries; cabinet officers determining which businessmen would control new industries. If capitalism were abso lutely recognized, according to Belloc, govern ment-created monopolies could not continue. But, from inside parliament, he saw "executive statesmen" determining which group of busi nessmen would operate that sphere of industry.

The system described by Belloc in 1913 emerged most fully as the corporatism of the 1930s; it extended from Berlin to Washington. F. A. Hayek in The Road to Serfdom saw Belloc as a prophet; and Robert Nisbet, in his introduc tion to this edition, notes "just as Belloc pre dicted, we find the real liberties of individuals diminished and constricted by the Leviathan we have built in the name of equality. " Belloc's attempt to place The Servile State in a historical causation does not succeed, any more than his foray into economic theory. But, he saw clearly what was happening around him, that business leaders were the ones who wished to replace private institutions with state systems of social security and unemployment insur ance-to replace liberty and free markets with 407 408 THE FREEMAN • MAY 1996 The Servile State. Thus, he showed that the socialist, the reformer, the politician, and the state-connected industrialist, whatever their phi losophies, all are channeled into legislating The Servile State. D Dr. Liggio is Distinguished Senior Scholar ofthe Institute for Humane Studies, George Mason University.

Raymond J. Keating: Wealth and Poverty by George Gilder les Press, 1993 (1981) T hroughout much of the twentieth century, economists seemed destined to make them selves irrelevant. Emphasis on aggregate demand management and input-output economic models came to dominate the discipline, truly making it a dismal science. Though many outstanding economists fought nobly against this trend, by the 1970s the Keynesian victory of macroeco nomics over microeconomics seemed almost complete. It is against this backdrop that George Gilder's Wealth and Poverty was published. One should not underestimate what Gilder accomplished in this volume. He helped smash the Keynesian demand management model of the economy and replace it with a supply-side model centered on individual actions. Government as the life blood of the economy gave way to the entrepre neur as the true source of economicdynamismand growth.

Gilder even put to rest the idea that economics had to be dull, plodding, and increasingly narrow in focus. In Wealth and Poverty, Gilder managed to spark the reader's imagination. Wealth and Poverty called for the economist to understand much more than mere mathematics and GDP numbers; he must be willingto examine the entire human condition-history, psychology, technol ogy, business, and faith-as Adam Smith had done. Much of the moribund economics discipline still fails to acknowledge the merits of Gilder's Wealth and Poverty-to the detriment of both themselves and, unfortunately, their students. In contrast, I have come to view Wealth and Pov erty as a vehicle of redemption-saving the soul of economics, if you will. D Mr. Keating is chief economist with the Small Business Survival Foundation. Murray Weidenbaum: The Constitution of Liberty by Friedrich A. Hayek The University of Chicago, 1962 F riedrich Hayek's Constitution of Liberty surely merits front rank in any list of out standing books on liberty, free market econom ics, history, and political philosophy. What is especially remarkable about the work is that it makes important contributions in each of these areas.

Personally, I have always been taken by the broad-minded view that Professor Hayek brought to his writings. Surely, this classic work strengthens the case for the free market. Yet, as a fine scholar, Hayek volunteers the notion that the marketplace can adjust to a substantial amount of government intervention. Not that he advocates a large role for govern ment, but he brings to bear a special wisdom in examining such controversial questions from a truly scholarly viewpoint. That rare trait is es pecially helpful in reaching those who now hold different viewpoints. D Dr. Weidenbaum is chairman of the Center for the Study of American Business, Washington University, St. Louis. Dwight R. Lee: "The Use of Knowledge in Society" by Friedrich A. Hayek (reprinted in Individualism and Economic Order, Routledge and Kegan Paul, 1949) I f you want to learn as much as possible about economics fromjust one article, read Friedrich A. Hayek's "The Use of Knowledge in Society,"

published in the September 1945 issue of The American Economic Review. First, no other article explains the economic problem as clearly. Second, none provides a better understanding of the superiority of market economies. Third, it exposes one of the most deplorable fallacies in the standard approach to teaching economics. Finally, it throws a spotlight on the dangerous ignorance of economic planning. Hayek points out that sensibly allocating scarce resources requires knowledge dispersed among many people, with no individual or group of experts capable of acquiring it all. Informed economic decision-making requires allowing people to act on the information of "time and place" that only they have, while providing a system of communication that motivates us and informs us on how best to do it. Market exchange and prices generate the information and motivation. Yet economics students are invariably taught that the market works properly only if all participants have perfect knowledge.

This is nonsense, as Hayek explains. If everyone had perfect knowledge, the case for the market would largely disappear. The market is essential precisely because it allows people to benefit from widely dispersed knowledge when no one has more.than the smallest fragment of that knowl edge, not even government planners. Every time a government plan restricts market exchange, ignorance is substituted for knowledge. Read Hayek's article and you will approach your future reading with a more informed per spective on what economics is about. D Dr. Lee is Ramsey Professor ofEconomics at the University of Georgia, Athens. William H. Peterson: The Failure of the "New Economics" by Henry Hazlitt Van Nostrand, 1959; The Foundation for Economic Education, 1995 I n the beginning was Say's Law-supply cre ates demand. But that was the "old econom ics." Now, glory be, we're blessed with the "New Economics"-demand creates supply thanks to the "new" dazzling 1936 paradigm of The General Theory oJErnployment, Interest and Money by John Maynard Keynes. Lord Keynes stood Say's Law on its head, and so the business cycle has been mercifully repealed once and for all, of course.

Imagine, jobs for virtually everybody all the time. All central governments everywhere have to do is maintain "national income" at the level of "full employment.' , No big deal. Fine-tuners merely have to apply Keynes' equation (Y = C + I + G) and make sure macrodemand sustains adequate macrosupply through the magical "G" in the formula. G stands for government outlays, for economic-and political-paradise. So as Marx was a god in the nineteenth· century, Keynes became a god in the twentieth. Hazlitt devastates the "New Economics." G, says Hazlitt in a backcast and forecast of persis tent inflation and recurrent recessions, leads but to "a constant race between the money supply and the demands of the trade unions-but it does not lead to long-run full employment." CLASSICS RECONSIDERED 409 Hazlitt warns the Keynesians against their forgetting that everybody's income is somebody else's cost, against their cavalier downplaying of excessive wage rates as a key cause of unem ployment, against their temptation of deploying cheap money and deficit spending to even out the business cycle. But do the Keynesians and their friends in· high places listen, even at this late date? D Dr. Peterson is Distinguished Lundy Professor of Business Philosophy Emeritus at Campbell Uni versity, North Carolina.

James L. Payne: The Right and Wrong of Compulsion by the State and Other Essays by Auberon Herbert Liberty Fund, 1978 T he Right suffers from an awkward presenta . tion of its vision. It declares itself for "lib erty ," a word that for most people means "the power to do as one pleases. " So a great deal of effort is spent repudiating this meaning and asserting that liberty means "not under physical compulsion." Couldn't a more effective case against government be made if we set the term "liberty" to one side and declared that avoiding the use of force is our aim? Auberon Herbert proves that it can. This late nineteenth-century English "voluntaryist" countered the emerging socialist movement by questioning its foundations in coercion. "In the long dark history of the world," he asks, "what real, what permanent good has ever come from the force which men have never hesitated to use against each other?" He explains how the gov ernmental approach breeds anger and conflict: "As long as we believe in force there can be no abiding peace or friendship among us all; a half-disguised civilwar willforever smoker in our midst. " Coercive approaches typically hide problems, instead of solving them: "An evil suppressed by force is only driven out of sight under the surface-there to fester in safety and to take new and more dangerous forms."

In his moving defense of the voluntary prin ciple, Herbert exhibits a remarkable patience and humility-a model to those of us sometimes too short-tempered for our own good. D Dr. Payne is Bradley Fellow at the Heritage Foundation in Washington, D.C.

410 THE FREEMAN. MAY 1996 Matthew Carolan: Modern Times by Paul Johnson HarperCollins, 1983 "BYthe 1980s, state action had been responsible for the violent or unnatural deaths of over 100 million people, more perhaps than it had hitherto succeeded in destroying during the whole of human history up to 1900." This one statement has remained with me and has influenced me more than any othe; statement I have ever read. It is from Paul Johnson's Modern Times, a history of the twen tieth century-a book which I received as a Christmas gift some years ago. It helped me then, as a young college student, to understand with chilling clarity the world into which I was born. With a masterful combination of fact and anecdote, Johnson chronicles the century of "social engineering," which turned both ideas and persons into mere clay for the political class. He shows us the awful hubris of men like Stalin, and Hitler, and Mao, among others, and explains their kind of thought, which is unfortunately still with us. Johnson offers no bright vision of the future, but does us a service nevertheless by re mindingus of the errors, and evils of the past. D Mr. Carolan is Executive Editor of National Review.

William C. Dennis: In Defense of Freedom and Related Essays by Frank S. Meyer Liberty Fund, Inc., 1996 (1962) I n 1962, Frank S. Meyer, then Senior Editor at National Review, published his small, but controversial tract, In Defense of Freedom: A Conservative Credo (Henry Regnery). Here Meyer argued that what American conservatives had to conserve was largely an Anglo-American tradition of liberty. The purpose of the political order was to preserve individual liberty , Meyer maintained. Questions of virtue were to be left to the institutions of the great civil society. But only individually free-willed acts could produce vir tue; so freedom and virtue were necessarily allies not enemies. In this day of continued conservative faction alism, it would still profit people of good will on the right, particularly the younger conservative, to consider the implications of Meyer's thesis. D Dr. Dennis is Senior Program Officer at Liberty Fund, Inc., in Indianapolis.

Jane S. Shaw: Knowledge and Decisions by Thomas Sowell Basic Books, 1980 P hysicists tell us that a solid rock is mostly empty space interspersed with occasional dense specks of matter. "In much the same way," says Thomas Sowell, "specks of knowl edge are scattered through a vast emptiness of ignorance, and everything depends upon how solid the individual specks of knowledge are, and on how powerfully linked and coordinated they are with one another." Knowledge and Decisions takes us on a tour through the vast emptiness of ignorance to show how dispersed knowledge forms the architecture of human institutions. Building on F.A. Hayek's insights in "The Use of Knowledge in Society," Sowell analyzes economic, political, and legal decisions in terms of their use or neglect of this knowledge. The book includes page after page of lapidary examples, from discussions of rent con trol, affirmative action, and intelligence tests to the reasons that people dislike "middlemen."

Sowell also addresses American history over the past century. Because the United States is now a nation of employees (rather than self employed farmers), many people do not bear the consequences of their decisions directly. With feedback from their decisions weakened, they tend to demand political changes that reduce others' freedom and ultimately their own. And "experts," who have incentives to ignore dis persed knowledge, "solve" problems by over turning alternatives that people have found to be more valuable. Sowell addresses other aspects of decision making, such as constraints, tradeoff's, and in centives. But knowledge is paramount, partly because few understand its importance. As this book achieves greater recognition, that under standing should grow. D Ms. Shaw is a senior associate at PERC in Bozeman, Montana.

PeterJ. Boettke: Human Action: A Treatise on Economics by Ludwig von Mises Yale University Press, 1949; Contemporary Books, 1966; The Foundation for Economic Education, 1996 T he most important work published since FEE's founding in 1946, in my opinion, is Ludwig von Mises' Human Action: A Treatise on Economics, published in 1949.Human Action is the English rewrite (not just translation) of Mises' 1940 German work Nationalokonomie: Theorie des Handelns und Wirtscha/tens. This is Mises' magnus opus-combining the great contributions to economic science he made in The Theory 0/ Money and Credit (1912), Social ism (1922),and Epistemological Problems (1933) into an integrated treatise on economics and social theory. F.A. Hayek described Nation alokonomie as having such "width of view and intellectual spaciousness" that it reminds one of the great works of the eighteenth-century philosophers rather than those of the modern specialists.

The publication of Human Action led to sev eral important intellectual movements in the second half of this century-all of which possess an important claim to our attention. First, Mises' book brought Austrian economics to America more than any other work. The book directly influenced the research path of Murray Rothbard and Israel Kirzner-the leading scholars of mod ern Austrian economics-but it also brought the public policy wisdom of the Austrian version of neoclassical economics to American audiences as represented in the essays of Henry Hazlitt, Hans Sennholz, Percy Greaves, and others. Mises' great intellectual system more than any other became the inspiring vision behind the work of free-market intellectuals and scholars. Second, Mises' book rallied the anti-CommuCLASSICS RECONSIDERED 411 nist conservative intellectual and political move ment in the United States around a book that represented a direct challenge to Marx's works on a technical, philosophical, and polemical level. If the left had Marx, the right had-and has-Mises.

Third, Mises was one of the main intellectual inspirations behind the rebirth of classical polit ical economy, and the unification of related dis ciplines through a common means of analysis methodological individualism. This movement seen in the work of James Buchanan and Gordon Tullock in political science, as well as James Coleman in sociology-is still developing better insights not only into the operation of economies, but to the social world in general. Mises' Human Action was the first systematic treatise to push the economic approach beyond market exchange into all realms of human action. Future historians of the resurgence of classical liberalism in the later half of the twentieth cen tury will have to accord Mises' great book its rightful place as the visionary treatise around which a movement rallied and grew and boldly faced off against Communism at a time when it was assumed that Communism had not only grabbed the higher moral ground but also the economic ground as well. Mises exposed the fallacies of Communism and socialism, as well as the contradictions of statism in general.

Mises' great work still inspires legions of young minds, and its finer points of analysis provide fodder for more mature minds to wrestle with and mull over again and again. It is a rare work. Many great books have been written by scholars and intellectuals since 1946, but none approaches the breadth, depth, and boldness of Mises' Human Action. 0 Dr. Boettke teaches economics at New York University.

412 The Freeman, Honor Roll of Authors, 1956-1996 (Authors of historical importance whose works have been reprinted are listed in italics.) A Sidney Abelson Paul L. Adams Rodney Adams Michael Adamson Jonathan H. Adler Victor Aguilar James C. W. Ahiakpor Mark Ahlseen Bjorn Ahlstrom John Ahrens Armen A. Alchian Susan Alder Samuel R. Aldrich Holmes Alexander Scott Alexander Howard D. Aley Ruth B. Alford Alfred K. Allan Candace Allen William R. Allen Alvaro C. Alsogaray Wilfred Altman Jorge E. Amador Bruce N. Ames Beverly K. Anderson C. W. Anderson Dagmar M. Anderson Gary M. Anderson Gordon T. Anderson Henry Anderson Martin Anderson Maxwell Anderson Paul Anderson Robert G. Anderson Sarah Anderson Terry L. Anderson William L. Anderson Donald H. Andrews Paul M. Angle D. T. Armentano Larry Arnhart E. Barry Asmus Francis H. Aspinwall Jonathan Athens John Attarian Robert Awenius Manuel F. Ayau Ronald M. Ayers B Robert A. Baade David L. Babson Frederic S. Bacon, Jr.

John A. Baden Neera Badhwar Howard Baetjer Jr. Dale G. Bails Charles W. Baird Jean L. Baker Richard C. Baker William L. Baker Jayne B. Ball Doug Bandow Eric-Charles Banfield Dean Banks Richard Barbarick Mitchell Bard Melvin D. Barger Ben Barker Harry Elmer Barnes Andrew E. Bamiskis Stephen G. Barone Patrick Barrington Bruce Bartlett Jacques Barzun Diane Carol Bast Joseph Bast Frederic Bastiat Dupuy Bateman, Jr. Robert Batemarco Charles R. Batten Peter T. Bauer James R. Bauknecht Thomas F. Bayard William W. Bayes Daniel A. Bazikian Robert G. Bearce Jes Beard M. Robert Beasley Dennis Bechara Michael Becker Dick Beeler David Beers E. Calvin Beisner David T. Beito Henry E. Belden Montgomery Belgion Bernard Iddings Bell Albert R. Bellerue Alberto Benegas Lynch, Jr. Daniel Benjamin Sir Ernest Benn Bruce Benson Ezra Taft Benson Herbert Berger Ronald J. Berkhimer David Bernstein Arnold Berwick Ralph M. Besse Margaret Bidinotto Robert James Bidinotto Ivan R. Bierly W. Watts Biggers Donald B. Billings K. L. Billingsley John G. Bills, Jr.

Charles Bilodeau Herbert S. Bird Edgar Bissantz Kenneth A. Bisson Scott W. Bixler William Blackstone James E. Blair Robert Blake Ernesto E. Blanco Gordon B. Bleil Walter Block Roger M. Blough Walter J. Blum Patrick M. Boarman David Boaz Victor Bobb Alan W. Bock R. W. Boehm Phil Boerner Peter J. Boettke Charles Boewe Cecil E. Bohanon Ben W. Bolch Clint Bolick Arch Booth Michael·Bordelon Christy Borth Grace Bosworth Karoline Bota Donald J. Boudreaux Karol Boudreaux Lemuel R. Boulware James Bovard Philip J. Bowers William B. Boyd Shawn A. Bozarth Spruille Braden Marceline Bradfield M. E. Bradford Ralph Bradford Berton Braley Harllee Branch, Jr. Barbara Branden Karl Brandt Al Braun Thomas J. Bray Harold Brayman Norman V. Breckner Edward Y. Breese Michael Brewer Jean A. Briggs Paul Luther Brindle Evelyn F. Brines Eric Brodin Wayne G. Broehl, Jr. Colm Brogan George Bronner Warren T. Brookes Wayne T. Brough David M. Brown Frances West Brown Harold O. J. Brown Joseph E. Brown Montgomery B. Brown Robert E. Brown Susan Love Brown Tim Brown Wendell J. Brown Leland Browne, Jr.

Allan C. Brownfeld Yale Brozen Vera Brubaker Max E. Brunk August W. Brustat Barbara H. Bryan William Cullen Bryant Frank W. Bubb James M. Buchanan Hart Buck William Alvadore Buck Henry Thomas Buckle Brian Buckles M. Northrup Buechner Howard Buffett Helen Bugbee RaymQnd Buker Randall E. Burchett Duke Burgess Edmund Burke . Ruth Burke Raymond M. Burnham, II William D. Burt Marten Butler Earl L. Butz Lord Byron c Sigfredo A. Cabrera Leland P. Cade Jane Cage William E. Cage George F. Cahill John P. Cahill Stephen Cain Joseph L. Call Howard Callaway John W. Campbell Joseph M. Canfield Vincent W. Cangello Bryan Caplan Anthony M. Carilli Erica Carle Alexander S. Carney Matthew Carolan Ben H. Carpenter Warren Carroll Clarence B. Carson Alan Caruba T. N. Carver Edward Case Morley Cassidy Steven B. Caudill William Chadwick Alejandro Chafuen Bill Chaitow John Chamberlain Park Chamberlain William Henry Chamberlin John L. Chapman Julian Chase J. E. Chesher Roy A. Childs, Jr.

Mary Chlopecki Christine Chmura John Chodes Frank Chodorov Gregory B. Christainsen N. C. Christensen Richard Christenson Jim Christie S. J. Cicero Blake Clark George M. Clark John A. Clark Neil M. Clark Peter Clayton Carl Clegg Grover Cleveland. Paul A. Cleveland Andrew Cline Roger M. Clites Ronald H. Coase Joe Cobb Richard B. Coffman Lloyd Cohen Michael B. Cohn J. Brooks Colburn Julio H. Cole Edward P. Coleson Robert A. Collinge Ray L. Colvard Robert A. Condry William B. Conerly Gordon Conklin G. Courtney Conover Frank H. Cooey Oscar W. Cooley Roger B. Cooley Ronald F. Cooney Richard A. Cooper 413 Helen B. Copeland Donald M. Dozer Leonard Franckowiak Donald Grunewald Clayton A. Coppin Vincent A. Drosdik, III George Frank Robert L. Guarnieri Terence Corcoran Michael Bixby Dudley John Frantz Eugene Guccione Roy E. Cordato Michael R. Duff Gaylord A. Freeman, Jr. John F. Gummere Robert Coulson Jeffry W. Duffy Roger A. Freeman James D. Gwartney Michael L. Coulter Robert G. Dunlop Ludwig W. Freier Frank M. Covey, Jr. Dianne L. Durante Douglas E. French HTyler Cowen Salvatore J. Durante George Friedman Edward H. Crane Wyatt B. Durrette, Jr. Milton Friedman Jasper E. Crane Charles Dykes Rose D. Friedman Alfred P. Haake M. E. Cravens E. W. Dykes Jo Ann T. Frobouck David Haarmeyer Frederick C. Crawford Richard L. Fruin Jay Habegger C. Brandon Crocker E Peter Frumkin George Hagedorn George N. Crocker Joseph S. Fulda Eric W. Hagen David Crockett Richard W. Fulmer Scott W. Hahn Mallory Cross Robert H. Eagle David A. Fyfe Arthur P. Hall, II Brian Lee Crowley Richard M. Ebeling Willis H. Hall Richard H. Crum William L. Edelen G Charles H. Hamilton Kevin Cullinane J. Ollie Edmunds Judy Hammersmark Christopher L. Culp James Rolph Edwards Richard D. Hammond Edward F. Cummerford Timothy P. Ehrgott Sean Gabb Ruth E. Hampton Hannibal Cundari Arthur A. Ekirch, Jr. Wayne Gable Edward Hand Jill K. Cunningham Tom Elkins Gilbert R. Gadzikowski Learned Hand Steven R. Cunningham Jerry Ellig Gary M. Galles Julian H. Handler Vincent Curcio Nicholas Elliott E. Smythe Gambrell Steve H. Hanke Charles Curley George Ellis Martin Gardner C. Howard Hardesty, Jr.

W. M. Curtiss Terrill I. Elniff Scott Gardner Harriet Harper Harold B. Elsom Al Gamer F. A. Harper D A. Wayne Elsten Garet Garrett James W. Harris Jerry Emanuelson Roger W. Garrison T. Franklin Harris, Jr. Cliff S. Emeny Leonard Gaston C. Lowell Harriss Linda Darling Richard S. Emrich Robert L. Gates John Hasnas Steven E. Daskal Sarah Erdmann Edson I. Gaylord L. Hatzilambrou John A. Davenport Timothy Eshleman John R. Gearhart Jerzy Hauptman Anna David Cyd Essock Walter Gelhorn William R. Hawkins Nicholas Davidson Robert Ethier Gary Gentile Nathaniel Hawthorne. Harold S. Davis Alexander Evanoff Kenneth L. Gentry, Jr. Friedrich A. Hayek John Jefferson Davis Edwin Barlow Evans Paul Georgia Dale M. Haywood J. Edward Day Medford Evans Frederick Giarusso Thomas W. Hazlett Ruth Dazey Ken S. Ewert Alice Stephen Gifford Henry Hazlitt Joel Dean Shari Gifford Judy Anne Headlee Macabee Dean F Elizabeth Gillett Gerald Heard Fred DeArmond John Gillis K. Maureen Heaton Michael DeBow Thomas A. Giovanetti John Heffernan C. Austin DeCamp Edward C. Facey Kurt Glaser Peter S. Heinecke Herrell DeGraff Charles I. Faddis David Glasner Ben W. Heineman Paul de Hevesy Deidre Susan Fain Stephen Gold Ron Heiner George B. de Huszar Benjamin F. Fairless Samuel Gompers Rae C. Heiple, II Fred Dekkers Michael W. Fanning Rodolfo Alejo Gonzalez' Robert Hellam Robert W. Demers John D. Fargo Charley Goodman Esler G. Heller Christopher DeMuth Catherine Farmer Mark Goodman Carl O. Helstrom, III Douglas J. Den Uyl Peter Farrell Sandra L. Goodman David R. Henderson Kimberly O. Dennis Tim W. Ferguson Gerald Gordon Hanford Henderson William C. Dennis Peter J. Ferrara Harold C. Gordon Mark Hendrickson John V. Denson Romulo A. Ferrero Paul Gottfried Carlos Henkel Herbert J. Denton, Jr. Lawrence Fertig Ira Gottlieb Charles M. Hepburn Eugenie Dickerson Elmer A. Fike Eugene L. Gotz Jeffrey Herbener William Dickneider John P. Finneran Haven Bradford Gow Arthur R. Hercz Charles Dickson C. F. Fischer, III Ed Grady Ronald S. Hertz Gottfried Dietze Antony G. A. Fisher W. H. Graham James Herz Anna Dillenberg Sam R. Fisher William Granville, Jr. Karl Hess, Jr.

Thomas J. DiLorenzo John Fiske Rowland Gray-Smith Paul Heyne Daniel R. Dixon Geraldine Fitch Bettina Bien Greaves Robert Higgs Lev E. Dobriansky Harold M. Fleming Percy L. Greaves, Jr. Cherry Hill Barbara Dodsworth Antony Flew Harry W. Green Jason D. Hill James L. Doenges John T. Flynn Crawford H. Greenewalt Peter J. Hill Brian Doherty Fred E. Foldvary Edward W. Greenfield Wesley H. Hillendahl Roger Donway Ridgway K. Foley, Jr. Robert Greenslade Stephanie Hiller James A. Dom Burt Folsom Bowen H. Greenwood Joe Hochdertfer James L. Doti Roger Nils Folsom Perry E. Gresham Jean Hockman George H. Douglas Frederick C. Foote Rose Grieco Hope Hodson Jack D. Douglas Ed Fortier Mark Gring Ole-Jacob Hoff W. Earl Douglas Sam Walter Foss Patrick Groff Trygve J. B. Hoff Stephen J. Dow P. M. Fox Elgin Groseclose Beth A. Hoffman Daniel Patrick Doyle Willard M. Fox Cecil V. Grove Matthew Hoffman Dorothy Palmieri Doyle Darryl R. Francis K. E. Grubbs, Jr. R. C. Hoiles 414 THE FREEMAN • MAY 1996 Randall G. Holcombe K Ellis W. Lamborn Dennis H. Mahoney Roland W. Holmes Robin Lampson John Majewski Earl P. Holt, III Lynn Landrum Jan Michal Malek William Holtz Donald Kagan H. F. Langenberg Charles H. Malik David Honigman J. Kesner Kahn Lao-Tze Helga Malloy David Hood Geoffrey Kain Daniel Lapin Yuri N. Maltsev John Hood Shyam J. Kamath Hannah B. Lapp Allen Malz Robert E. Hood Paul D. Kamenar Elizabeth Larson Frederick A. Manchester Glenn E. Hoover Zelda Kapner Ronald Larson David J. Mandel Jacob G. Hornberger George G. Kaufman William L. Law Clarence E. Manion Carl F. Horowitz Greg Kaza David Lawrence AmyS. Mann Ronald M. Horwitz Raphael G. Kazmann Donald R. Leal William M. Manoogian Steven Horwitz J. R. Kearl Roy Lechtreck Alexei M. Marcoux John Hospers Karl Keating Walter Leckrone Kenneth L. Marcus Irving E. Howard Raymond J. Keating Brad Lee Henry Margenau John A. Howard Davis E. Keeler Cynthia D. Lee Herbert E. Markley Joseph P. Howard Frank B. Keith Dwight R. Lee Jack Markowitz Craig Howell John Kell Jeffery G. Lee Morris J. Markovitz William E. Howell Edward A. Keller George C. Leef Ramona Marotz-Baden Robert R. Hoyt David Kelley Robert LeFevre Max S. Marshall Elbert Hubbard Donald L. Kemmerer M. R. Lefkoe Leonard W. Martin Gary C. Hudson E. W. Kemmerer Thomas E. Lehman Thomas L. Martin Alex Huemer Arthur Kemp Sam Lehman-Wilzig Joseph P. Martino Michael Huemer C.D.Kemp Morris I. Leibman Lowell B. Mason David C. Huff Walter H. Kemp Kurt V. Leininger Douglas Mataconis Gregg B. Hughes Alfred Anderson Kennedy Gordon B. Leitch Milton H. Mater Nelson Hultberg Grace Lee Kenyon Peter J. Leithart Don Mathews Todd S. Hultman Livingston Keplinger Anthony Lejeune Scott C. Matthew Jeffrey Rogers Hummel WilliamS. Kern Pierre Lemieux Buddy Matthews Betty Knowles Hunt Howard E. Kershner Mark Edward Lender Jack Matthews David P. Hunt Charles F. Kettering Richard L. Lesher Marty Mattocks Richard E. Hunt John Maynard Keynes Grey Leslie George I. Mavrodes Barbara R. Hunter Carl A. Keyser Philip Lesly Richard R. Mayer W. L. Hunter Matthew B. Kibbe Michael Levin Ruth Shallcross Maynard Sam H. Husbands, Jr. James J. Kilpatrick Ted Levinson James E. McAdoo Ralph W. Husted William K. Kilpatrick Allan Levite Hughston M. McBain E. F. Hutton David C. King M. L. Levy Robert McBurney Fulton Huxtable Hugh P. King Edward A. Lewis James M. McCaffery Thomas A. Hyatt N. Stephan Kinsella Leonard P. Liggio Sarah J. McCarthy Rudyard Kipling Stephen E. Lile James E. McClure I Russell Kirk Daniel Lin R. C. McCormick R. Cort Kirkwood Charles A. Lindbergh Jack McCroskey Israel M. Kirzner John D. Lindl J. G. McDaniel T. J. Iijima John B. Kizer Sarah H. Lindsey Kenneth McDonald T. Robert Ingram Daniel B. Klein Lloyd J. Linford Stanley C. McDonald William B. Irvine Peter G. Klein Calvin D. Linton Edwin McDowell Mark D. Isaacs Thomas C. Klein Ed Lipscomb Wendy McElroy Jo Anne Klemmer Dean Lipton Rolf McEwen J Zak Klemmer Shih Cheng Liu Gary McGath Malcolm A. Kline Felix Livingston Robert W. McGee

Thomas W. Knepher Robert M. Lloyd Nils McGeorge Stephen L. Jackstadt Harry C. Knickerbocker, Jr. Charles H. Logan John D. McGinnis Paul H. Jacobson Donald J. Kochan Herbert London Gary McGrath Victor Jacobson George Koether Wellington Long Daniel F. McInnis Reginald Jebb Elizabeth Kolar Eric Longley Richard B. McKenzie Thomas Jefferson Roger Koopman Steve Lopez Donald McLaughlin Kent Jeffreys S. J. Kornhauser John R. Lott, Jr. A. Neil McLeod H. P. B. Jenkins Ross C. Korves Harry M. Love Earl W. McMunn Frederick B. Jennings, Jr. Alex Kozinski Lewis Love Edward L. McNeil John Jewkes David J. Kramer Robert D. Love William J. McNicoll O. B. Johannsen Dianne Kresich Yale Jay Lubkin Robert F. McNown August E. Johansen Erik von Kuehnelt-Leddihn Walter A. Lunden Loyal Meek Arnold W. Johnson Cecil Kuhne Roger Meiners Bruce Alan Johnson Garvan F. Kuskey M Francois Melese Charles W. Johnson Jo Kwong Daivid Mellinger Darryl W. Johnson, Jr. Sheila Melvin Erik A. Johnson L Jack Mabley John Merline Orien Johnson Douglas MacArthur John C. Merrill Paul Johnson Hugh Macaulay Leonard A. Metildi Teresa R. Johnson David N. Laband James A. Maccaro Marc S. Micozzi Thomas L. Johnson John V. LaBeaume Tibor R. Machan Stephen B. Miles, Jr.

Brent M. Johnstone Jack Lacy J. Gresham Machen E. Victor Milione Charles G. Jones Charles R. La Dow Russell Madden John Stuart Mill Richard Jones Stephen Lai James Madison Alexis T. Miller Alexander T. Jordan Gary Lamb Lee G. Madland Jerry Millett David Starr Jordan Lance Lamberton Francis E. Mahaffy Richard Miniter HONOR ROLL 415 Ludwig von Mises Louise Omdahl Daniel J. Popeo Tommy W. Rogers J. Wilson Mixon Edmund A. Opitz Albert Porter Benjamin A. Rogge Arthur S. Mode Jane M. Orient Bruce D. Porter E. Merrill Root Michael C. Monson Susan J. Osburn David J. Porter Tom Rose David Montague David Osterfeld Patrea Post Ernest G. Ross JohQ Montgomery Muriel Osterhaus Barry W. Poulson Kelly Ross Zach Montgomery John Otterson J. Enoch Powell Edward A. Rossit Clytia C. Montllor Lee Ownby Jim Powell Murray N. Rothbard Robert Moon Rayasam V. Prasad Ingrid Rottinghuis Arthur P. Moor p Joanne H. Pratt Koil Rowland Robert C. Moore Sartell Prentice, Jr. Paul Roy Stephen Moore Howard Preston Vermont Royster Wilma J. Moore Don Paarlberg Frank J. Primich Robert J. Rubanowice Jack Morano Benedicto Padilla Stu Pritchard Allen W. Rucker Max More Michael C. Paganelli Herbert V. Prochnow Merryle Stanley Rukeyser Ben Moreell Scott D. Palmer A. R. Pruit R. J. Rushdoony Jay Morrison Hon. William Palmer Daniel R. Pruzin Craig Russell Steven W. Mosher Melchior Palyi David L. Prychitko Jim Russell George B. Mueller Lawrence M. Parks John A. Pugsley P. Dean Russell William C. Mullendore E. C. Pasour, Jr. Mark S. Pulliam Louis Ruthenburg James W. Muller W. A. Paton Robert W. Pulsinelli Archibald Rutledge Robert R. Mulqueen James C. Patrick Evelyn Pyburn Paul Rux Sharon B. Mulwitz Jim Patrick Russell G. Ryan Toshio Murata William Penn Patrick R Sven Rydenfelt Douglas J. Murphey Judd W. Patton Kenneth W. Ryker Dwight D. Murphey Robert Patton Charles Murray Ron Paul Randall R. Rader SJohn T. Murray Gregory P. Pavlik Ralph Raico Gerald Musgrave James L. Payne Ralph A. Raimi Dayis Muth Scott Payne Jess Raley Dick Sabroff Archie Peace Ayn Rand Joseph T. Salerno N Glenn L. Pearson Salim Rashid Barbara SaIl Gary M. Pecquet Douglas B. Rasmussen Richard M. Salsman Mario Pei Ben Asa Rast James Saltzman Ralph Nader Jackson Pemberton Robert K. Rauth, Jr. Jonathan Sandy Ronald Nash William R. Perl Ian Ravenscroft Michael Sanera Timothy G. Nash Philip Perlmutter Leonard E. Read Andrew V. Santangini Philippe Nataf Mark J. Perry Norman S. Ream Lois H. Sargent Jean L. Natale Rick Perry Roger R. Ream Larry W. Sarner Jo Nathan Lawrence Person Doug Reardon George D. Scarseth Agustfn Navarro J. H. Peters Lawrence W. Reed Thomas E. Schaefer Phil C. Neal Lovett C. Peters Michael Reed Martin F. Schaffer Robert J. Needles Daniel Carl Peterson Gregory F. Rehmke Herbert L. Schaller Willie E. Nelms Dennis L. Peterson Ralph R. Reiland D. Eric Schansberg A. Z. Nelson Elmer T. Peterson Anthony M. Reinach Edward P. Scharfenberger John O. Nelson Mark Peterson George Reisman Robert J. Schimenz Robert H. Nelson Mary Bennett Peterson Richard C. Renstrom Reid Schlager John E. Nestler Robert A. Peterson Donald L. Repp Harold E. Schlichting, Jr.

Luman N. Nevels, Jr. William H. Peterson Morgan O. Reynolds Emerson P. Schmidt Philip W. Newcomer Sylvester Petro Saralee Rhoads Marvin M.·Schmidt Robert K. Newell Joseph E. Petta Donald R. Richberg Fred Schnaubelt David H. Newhall Samuel B. Pettengill Sheldon Richman Steven J. Schneider V. M. Newton, Jr. J. Howard Pew William F. Rickenbacker John M. Schoeph Lee Nichols John-Peter A. Pham Wesley Allen Riddle David J. Scholl Ralph G. Nichols Towner Phelan Richard Stanton Rimanoczy Jack Schreiber Rosalie Nichols Thomas W. Phelps H. J. Ritscher Robert Schuettinger Hoffman Nickerson H. B. Phillips E. J. Ritter, Jr. Kurt Schuler George W. Nilsson J. Brian Phillips Jose Rivas-Micoud K. Fritz Schumacher Albert Jay Nock James R. Phillips Jennifer Roback George S. Schuyler William Noland James Picerno James S. Robbins Barry J. Schwartz Lawrence Noonan Sue Pick John W. Robbins George Schwartz Christopher North Michael Pierone L. Edward Robbins Harry Schwartz Gary North David A. Pietrusza Charles S. Roberts Jack Schwartzman Frederick Nymeyer Diane D. Pikcunas John J. Roberts Leopold Schwarzschild Vaughn C. Nystrom William E. Pike Constance Robertson Claire Scoltock Daniel J. Pilla John Robson Graham Scott 0 Juliana Geran Pilon George Charles Roche III Richard T. Scott Roger Pilon Llewellyn H. Rockwell, Jr. L. S. Scruggs W. H. Pitt Charles H. Roe Alastair Segerdal Robert Lincoln O'Brien R. Carter Pittman Reese Roeder Nancy Seijas Thomas F. O'Connell Thomas K. Plofchan, Jr. Wilhelm Roepke George A. Selgin Richard D. Obenshain Paul L. Poirot A. M. Rogers John Semmens Robert K. Oldham Raymond Polin Ann Weiss Rogers Donald J. Senese Mike Oliver Ivan Pongracic Donald I. Rogers Nassau Senior Rebekah Deal Oliver Nancy W. Poole James M. Rogers Hans F. Sennholz Robert T. Oliver Robert Poole, Jr. Michael Rogers Mary Sennholz 416 THE·FREEMAN • MAY 1996 Thurman Sensing J. D. Steelman, Jr. Jerome Tuccille Timothy J. Wheeler Robert L. Sexton C. J. Steiner, S.J. Jeffery A. Tucker Andrew Dickson White Edna Shaker Jose ftalo Stelle William Tucker Lawrence H. White Russell Shannon Brian H. Stephenson Catriona Tudor Richard A. White Jane S. Shaw Howard Stephenson Charles Turnbull Rick White Jeremy Shearmur Paul Stevens Charlotte Twight Norman Whitehouse Richard Shedenhelm Richard W. Stevens Robert C. Tyson James H. Wiborg Thomas J. Shelly Bob Stevenson Richard W. Wilcke Arthur Shenfield Robert Louis Stevenson V-V Aaron Wildavsky Sudha R. Shenoy Thomas Stevenson Joan WilkeThomas R. Shepard, Jr. Daniel K. Stewart Carlton WilliamsAmy L. Sherman David M. Stewart Walter L. Upson Charles W. WilliamsDonald Walter Shorock Judith Anne Still Miller Upton David A. WilliamsCharles B. Shuman Robert M. Stocking James B. Utt Gary WilliamsMorris Shumiatcher Louis Stone Paul Valery John K. WilliamsSamuel A. Siciliano Sid Streicher Stephen R. Vallance Roger J. WilliamsAl Siebert Adam K. Stricker, Jr. Martin Van Buren Walter E..WilliamsBernard H. Siegan David S. Strickler T. Norman Van Cott W. Rulon WilliamsonAnn Signor John Strohm Jeff Van Drunen Elizabeth W. WilsonBob Signor Robert Strother Charles Van Eaton Granville WilsonNicholas Silia, Jr. Richard L. Stroup Hendrik Van Loon Julian L. Simon William G. Stuart John V. Van Sickle Robert C. Wilson Henry Edward Simons John Stull L. John Van Til George Winder Randy Simmons A. M. Sullivan Laurence M. Vance Franz E. Winkler Duncan A. Simpson John Sullivan Henry W. Vanderleest Alexander Winston Jeffrey A. Singer Lawrence Sullivan Gustavo R. Velasco Ambrose Pare Winston M. W. Sinnett Jacob Sullum Robert P. Vichas Gerald Wisz Robert A. Sirico, CSP Brian Summers King Vidor Dale Witham David Skidmore William Graham Sumner Edwin Vieira, Jr. Samuel Withers Aeon J. Skoble George Sutherland Patrick J. Vincent Mrs. H. L. Witmer Mark Skousen Kyle S. Swan W. G. Vollmer Peter P. Witonski G. Sumner Small Gerald J. Swanson Enders M. Voorhees Christopher Witzky Gary V. Small John E. S}Vearingen Frank Vorhies James A. Woehlke Samuel Smiles Lois Swearingen Charles Hull Wolfe

Gene Smiley Virgil Swearingen W Gregory Wolfe Bradford B. Smith Richard Sylla Harry P. Wolfe Donald G. Smith Susan Marie Szasz Gary Wolfram Elwood P. Smith Thomas S. Szasz H. Keith Wade Jarret B. Wollstein Fred L. Smith, Jr. Daniel F. Walker Leo Wolman Harry Lee Smith T Deborah Walker Keith Wood Marcella Smith Francis Amasa Walker Anthony Woodlief Menlo F. Smith Frederick Walker Ralph L. Woods Philip Smith Mack Tanner Harold Blake Walker Thomas E. Woods Jr.Robert T. Smith Jeff A. Taylor Michael Walker Benjamin N. WoodsonRoland B. Smith Joan Kennedy Taylor W. Allen Wallis Robert L. WoodsonStuart Smith Lola H. Taylor David Walter Karina WorltonDan Smoot Robert Taylor Edward Walter James J. WormanDavid Smyth K. S. Templeton, Jr. June I. Ward Anne WorthamG. M. Snel Grove Marten ten Hoor Donald Warmbier Robert WrenLeslie Snyder Glen Tenney Terree P. Wasley David McCord WrightJoseph Sobran Ann Terrill Sheldon Wasserman Walter B. WristonKenneth W. Sollitt Donald R. Terry Hal F. Watkins Rolf E. WubbelsLouis H. Solomon W. Ross Thatcher William J. Watkins, Jr.

John W. Sommer Edward Theberton George M. Wattles William H. Wyman Pitirim A. Sorokin Adam D. Thierer V. Orval Watts Mark B. Spangler Clifford F. Thies Donald E. Weast y-zBertel M. Sparks Robert Thomas Richard M. Weaver John A. Sparks Donna Thompson Charles E. Weber Dirk YandellJohn C. Sparks Grant Thompson James A. Weber Edgar B. Speer Ivan Thorn Daniel Webster Bruce Yandle Herbert Spencer Mark Thornton Edward J. Webster Stanley Yankus Steven N. Spetz Robert M. Thornton James Wei Steven Yates H. E. Spitsbergen John W. Tietz Murray Weidenbaum George Yossif Arthur B. Spooner Jacquelyn Till Michael D. Weiss Anthony Young W. E. Sprague Lynn Tilton E. F. Wells F. Clinton Young R. C. Sproul, Jr. Richard H. Timberlake Donald R. Wells John Wesley Young F. R. Sproule William Tolischus John T. Wenders S. David Young Alexander St.-Ivanyi Leo N. Tolstoy Douglas E. Wentz Robert Youngblood Sam Staley Bill Tomlinson Walter J. Wessels Walter R. Youngquist William J. Staley Alexis de Tocqueville Edwin G. West Earl Zarbin Maurice H. Stans Joseph C. Towle Rebecca West Michael F. Zaremski Dean Stansel Martha Treichler John V. Westberg Pujie Zheng Tom Starkweather Phil Trieb D. M. Westerholm Robert Zimmerman Lewis Steams Vollie Tripp Paul Westman M. L. Zupan Peter F. Steele D. Elton Trueblood Christopher Whalen Benjamin Zycher THEFREEMAN IDEAS ON LIBERTY FEATURES 420 426 431 436 439 444 447 450 453 455 Center 434 441 461 418 463 464 Historian Paul Johnson on American Liberty An exclusive interview with the author of Modern Times.