Book Reviews

54 BOOKS A Life of One's Own: Individual Rights and the Welfare State by David Kelley Cato Institute • 1998 • 174 pages • $18.95 cloth; $9.95 paperback Reviewed by Ellen Frankel Paul D avid Kelley, erstwhile professor of phi losophy, social commentator, and execu tive director of the Institute for Objectivist Studies, has written a marvelous yet slim vol ume exposing virtually everything that is wrong with the welfare state. Kelley's writing is always pellucid-an academic's word for clear-and utterly comprehensible, which no doubt explains why he left college teaching. This book is simply outstanding. Kelley is a superb synthesist, and one could hardly do better than to purchase a copy of A Life ofOne sOwn to acquire an understanding of the defects of the welfare state. Here one finds elegant refutations of the key arguments that opponents of America's tradition of indi vidual liberty have employed to undermine our freedom. Primary among these is the notion of "welfare rights," which he argues are spurious because they are parasitic on the efforts of other people: one person's right to welfare payments as an unwed mother, for example, is dependent on the coerced transfer of money from its rightful owners, the tax payers who actually earned it. In contrast, the natural rights of life, liberty, and property are not parasitic on the efforts of others, and ask of others only that they not interfere with what is mine and thine. What is fundamental ly wrong with "welfare rights" is that they cannot be implemented without violating lib erty rights.

Kelley is at his most instructive when he analyzes why the welfare state developed out of the Industrial Revolution. Defenders of individual liberty, free markets, and limited government often are weak on the question of why such appealing doctrines have fared so poorly in the twentieth century. Kelley pro vides some interesting answers. Tracing the origins of the welfare state back to Bismarck's Germany of the 1880s-with its payroll taxes to fund unemployment, accident, health, and old-age insurance-Kelley shows how Amer ican resistance to this Prussian model broke down under the pressure of the Great Depres sion and the exhortations of prominent social activists and academics. Fundamentally, these welfare state initia tives were a response to changes in the way people led their lives during the Industrial Revolution. In the new economy based on employment for a wage, the vagaries of eco nomic cycles, chance, and bad luck played a much more significant role in people's lives, and they desired protection against those risks. Disabling accidents in the factory, sick ness of the breadwinner, old age, and unem ployment were potential calamities that wage earners and their families faced. This broad ened the constituency for governmental reme dies beyond the narrower band of the chroni cally poor.

While conceding that these risks were real, Kelley shows how they were being addressed by insurance, friendly societies, and other vol untary charitable associations. In other words, he sees nothing inevitable about the develop ment of the welfare state. For such voluntary remedies to have been usurped by state pro grams, a "sea change in thinking about the problems of poverty and economic risk" had to have transpired. The transformation from private to public provision of assistance could not have happened from economic causes alone, Kelley contends, but rather, resulted from a revolution in "ideas, values and philo sophical outlook." Virulent critics of individualism set the moral stage for the welfare state's assault on liberty. Ideas essential to liberty-such as the morality of self-interest and the efficacy of reason-were ridiculed and repudiated. The "new liberals" paved the way for the welfare state in five key ways, Kelley argues: (1) by redefining freedom into a spurious "positive freedom" to be taken care of by the state, (2) by redefining "coercion" to mean what employers do to their employees by offering them a wage, rather than the threatening of people with harm if they don't obey, (3) by undermining individualism with the claim that we are all helpless creatures of social forces, (4) by advocating a secular variant of altruism that replaced service to God with service to society, and (5) by undermining the distinction between society and the state, and deifying the latter.

Kelley concludes his demolition of the wel fare state on an optimistic note. Just as com munism imploded when its myth of a work ers' paradise wrought by central planning lost its credibility, so might the welfare state col lapse under the weight of its myths and near ly bankrupt programs. Not as sanguine by nature as Kelley, I do hope that his powers of prognostication are keen. I wonder, though, whether a system based on pure evil, like communism, is more vulnerable to collapse than one grounded on smaller, subtler evils, like the welfare state. We shall see. D Ellen Frankel Paul is professor ofpolitical science and philosophy and deputy director ofthe Social Phi losophy and Policy Center at Bowling Green State University. Mugwumps: Public Moralists of the Gilded Age by David M. Tucker University of Missouri Press • 1998 • 160 pages • $27.50 Reviewed by Burton Folsom A t last, the Mugwumps have their modern day champion: Professor David Tucker, a historian at the University of Memphis. The Mugwumps are best known as civil service reformers who worked within the Republican party to quash the spoils system with the Pendleton Act of 1883. As Tucker shows, however, the Mugwumps were much more than mere moral reformers. They were elo quent and persuasive spokesmen for free mar kets and free trade throughout the late 1800s.

The Mugwump name came from the Algon quian word for "chief." Tucker looks at, BOOKS 55 among others, the careers of Mugwump "chiefs" William Graham Sumner, professor at Yale University; E. L. Godkin, editor of The Nation; Carl Schurz, senator from Missouri; David Wells, a government statistician; and Henry Adams, popular writer descended from two presidents. The Mugwumps greatly admired the writ ings of British thinkers Adam Smith, Richard Cobden, and John Stuart Mill. The ideas of free markets, strong property rights, sound currency, and limited government were hall marks of Mugwump thinking. As Tucker notes, "They mastered historical and statis tical material that demonstrated that steam and electricity had multiplied the produc tivity of workers and would create an abun dance if only individuals learned personal virtue and if governments withdrew their mar ket interferences." Not only would society function more smoothly if entrepreneurs were unleashed and government restrained, but poor people and immigrants would have greater chances for success. Protective tariffs, according to Mug wump research, helped fewer than 10 percent of American workers and pushed prices upward for the rest. Tariffs further created lobbies of special interests who corrupted government by pressuring politicians to vote special favors for them.

The Mugwumps deplored the political arena and preferred to write rather than run for office. Their big political success was when they bolted the Republican party in 1884 and helped Grover Cleveland win the presidency. Cleveland proved to be a strong freemarket thinker and his two terms were the high point of Mugwump influence. In the late 1800s, the Mugwumps were challenged by the Populists, who wanted gov ernment aid for farmers; silver miners, who wanted the government to buy large amounts of silver at high prices; and some intellectu als, who saw government as a useful tool to create a more perfect society. Tucker describes these challenges to freemarket ideas and observes that Mugwumps opposed federal tinkering because "government poli cies violated liberal beliefs in absolute indi vidual rights of life, liberty, and property."

56 THE FREEMAN/IDEASON LIBERTY • JUNE 1999 Tucker does an excellent job of presenting the Mugwumps and their ideas, which he says were compelling and logical. They won some battles, lost others, and, by the early 1900s, were overshadowed by the Progressives. "Politicians," Tucker says, "always needed encouragement to do the right thing, and even if the advice was rarely followed, critics were not necessarily failures." In the past,.historians have ridiculed Mug wumps as priggish, selfish, and suffering from declining status in society. Tucker argues that this view says more about the historians than it does about the Mugwumps. "Mug wumps were given their reputation for failure by later cheerleaders for the welfare state," he observes. "[A]fter the Great Depression of the 1930s turned educated opinion to Keynesian economics, nineteenth-century liberals who feared government as the enemy of freedom and progress were recast as selfish, wrong headed agents for the middle class."

Tucker's research is solid and he explores a wealth of primary and secondary sources. His writing is clear and crisp and his chapters are well organized. Most historians assume that freemarket ideas lost because they were not sound; Tucker, by contrast, assumes that the Mugwumps held ideas that were solid and enduring. To explain their ultimate defeat, he explores how the German ideas of statism and empire-building began to permeate American society in the late 1800s. Tucker's book is an excellent addition to the literature on the Gilded Age and a valuable correction to the standard books by historians Richard Hofstadter, Ari Hoogenboom, and John Sproat. D Burton Folsom is senior fellow with the Mackinac Center for Public Policy in Midland, Michigan. His book The Myth of the Robber Barons is in its third edition. Who Killed Homer? The Demise of Classical Education and the Recovery of Greek Wisdom by Victor Davis Hanson and John Heath Free Press. 1998 • 288 pages • $25.00 Reviewed by Fred D. Miller, Jr.

O ver a decade ago, Allan Bloom's explo sive book, The Closing of the American Mind, opened the floodgates of criticism of American higher education for perverting its ostensible mission and values. Professors of the humanities, in particular, have been exco riated for behaving like politically correct ide ologues and overspecialized self-promoters and careerists rather than teachers and schol ars in the traditional sense. Who Killed Homer? presses the attack into that most ven erable citadel of the academy: the discipline of classics, which studies the languages and literature of the ancient Greeks and their intel lectualheirs, the Romans. Authors Hanson (professor of Greek at Cal ifornia State University-Fresno) and Heath (professor of classics at Santa Clara Universi ty) start with a paradox: In 1992 classicists published over 16,000 books, articles, and reviews, double the output of 1962.Yet during this time, enrollments in Latin have plummet ed and Greek has all but disappeared. As a result, "there are now five or six Classics pro fessors in the country for every senior Clas sics major, and over thirty articles and books each year for every graduating student." This is having dire effects: retiring classicists are not replaced, and ever fewer courses in clas sics are being taught. How did this happen?

Or, as the authors ask, who killed Homer? There has been a drastic decline in the qual ity of American public education (partially concealed by grade inflation and the "dumbing down" of standardized tests), and the elimina tion of foreign language requirements has had a disproportionate effect on Latin and Greek. But the authors place much of the blame on classicists themselves who are unimpressed with or unaware of the values of Greek and Roman civilization and have little interest in explaining them to the general public. This is in part the result of the hyperreaction against Western civilization that has seeped into the university professoriate along with postmod ernism and multiculturalism. The Greeks, especially, have been ignored, debunked, or denigrated, although they bequeathed to us enduring ideals such as rationality, scientific inquiry, and freedom of speech. Classical scholarship has unfortunately fol lowed the lead of literary criticism, "adding a vacuous jargon and sophistic superstructure on top of the multiculturalist perspective."

Books in classics are routinely praised by reviewers for being "densely argued" or "challenging," rather than panned for their turgid, unintelligible verbosity. The authors document this with a series of outrageous and sometimes hilarious examples of pretentious verbiage, which receive adulation from other academic reviewers. For example, one book review in the esteemed Journal of Hellenic Studies concludes: In sum, this book might be refigured as revealing the contradictions between a mainly "pessimistic" post-structuralist/ deconstructive discourse and a more "opti mistic" Marxizing discourse, contradic tions through which-eould one say? glimmer sights of the Althusserian "real conditions of existence." Or not. Why do academics publish such stuff? Because they learn that the key to success is recognition within their academic guild. So they strive to earn Ph.D.'s from illustrious uni versities, find jobs at similarly illustrious uni versities, secure tenure, and ultimately ascend to stardom, which is measured in terms of grants, endowed chairs, appointments to edi torial boards, professional recognition, reduced teaching loads, extended leaves, and prestigious fellowships. In pursuing these goals, however, scholars are making them selves collectively irrelevant.

The authors show from experience that teaching Greek and Latin is not easy. In order to motivate students, teachers must be highly dedicated and view the task of teaching as their primary responsibility. They must com municate to students the light at the end of the BOOKS 57 tunnel: the power and beauty of classical lit erature and the values it contains. An effective jeremiad must exaggerate somewhat, and this book is no exception. The profession of classics includes many dedicat ed teachers who devote long hours to their students and many scholars who conscien tiously search for the truth. But the book's thesis is correct that the discipline of classics as a whole is "in crisis." The solution proposed in this book is a fun damental change in how universities do busi ness: professors should be expected to teach a lot more, they should be expected to motivate their students to learn, and they should be hired, promoted, and rewarded on the basis of their teaching to a much greater extent than they are now.

The prospects for such reforms seem dim. Academics generally, and classicists in partic ular, have little incentive to alter their behav ior. Until and unless there are fundamental changes in how higher education is offered to students, it is unlikely that Homer will rise again from the dead. D Fred Miller teaches the classical Greek language and is professor ofphilosophy and executive director of the SocialPhilosophyand Policy Centerat Bowling Green State University. Secession, State & Liberty edited by David Gordon Transaction Publishers • 1998 • 344 pages • $44.95 Reviewed by George C. Leef H erbert Spencer argued in a famous essay that individuals have a right to ignore the state. If so, it follows that a group of individ uals also has the right to ignore the state, and enter into some new political arrangement if they choose. That is, they may secede. Although secession has had a bad press in the United States since the Civil War, with the secessionist cause and slavery almost invari ably linked, this book brings together 11 essays which collectively make the case that it merits serious consideration.

The essays fall into three categories-those 58 THE FREEMAN/IDEAS ON LIBERTY • JUNE 1999 examining American history for fresh insights on the legality and morality of secession, those taking a theoretical look at secession generally, and those applying secession theo ry to the contemporary world. In the first category are Donald Liv ingston's "The Secessionist Tradition in America," Joseph Stromberg's "Republican ism, Federalism and Secession in the South, 1790 to 1865," Thomas DiLorenzo's "Yankee Confederates: New England Secession Move ments Prior to the War Between the States," and James Ostrowski's "Was the Union Army's Invasion of the Confederate States a Lawful Act?" If you enjoy challenges to con ventional wisdom, these essays are a feast. Livingston takes great pains to attack "the absurd nationalist theory of the Constitution propounded by Story and Webster," maintain ing that the prevailing philosophy of the Founders was that the country was a volun tary union of sovereign states, each possess ing as much right to depart as they had to depart-secede-from the British Empire.

Stromberg, traversing much of the same ground, quotes Madison that ratification of the Constitution was "the act of the people, as forming so many independent states, not as forming one aggregate nation." DiLorenzo makes the historically deft point that talk of secession did not originate in the South, but rather in New England in the years before and during the War of 1812. Hostility to Jeffer son's trade embargo and the war caused lead ers in New England to convene in Hartford to discuss secession. The movement fizzled, of course, but DiLorenzo concludes that "there was virtually universal support-from Republicans and Federalists alike-for the right of secession." Arguably the most affecting in this group is Ostrowski's essay, an extended analysis of the arguments advanced by President Lincoln for the legality of sending troops into Confeder ate territory. Ostrowski finds no constitution al support for any of those arguments.

Instead, he marshals considerable support for the opposite proposition, that the war was conducted in violation of the Constitution, concluding that "the purposes of the Consti tution do not envision the use of armed force against a state that has concluded it is no longer benefiting from the union." Ostrowski ends his piece with his thoughts on the present-day legality of secession, holding that the Civil War and subsequent constitutional amendments did not change underlying legal ities: the Ninth and Tenth Amendments still protect the right to secede. In the second group of essays, Steven Yates asks, "When is Political Divorce Justified?" and answers that because the federal govern ment has ignored its legitimate functions and has undertaken many illegitimate ones, "Americans are morally justified in taking action to restore limited government, includ ing, as a last resort, secession." Scott Boykin explores "The Ethics of Secession" and, among other things, refutes arguments that have been made purporting to limit the right to secede. The late Murray Rothbard's "Nations by Consent: Decomposing the Nation-State" is classic Rothbard. He writes, "One goal for libertarians should be to trans form existing nation-states into national enti ties whose boundaries could be called just ...

that is, to decompose existing coercive nation-states into genuine nations, or nations by consent." As Clyde Wilson's "Secession: The Last, Best Bulwark of Our Liberties" argues, "The right of self-government rests on the right to withdraw consent from an oppres sive government. That is the only really effec tive restriction on power, in the last analysis." In the third category of essays, Hans Hermann Hoppe contends that secession is a healthy trend in "The Rationale for European Secession." Pierre Desrochers and Eric Duhaime examine the case of Quebec. Lastly, Bruce Benson contributes "How to Secede in Business Without Really Leaving," an essay exploring arbitration as a means of "seced ing" from the government's system of law and courts. Of particular interest here is the battle that the "anti -secession" forces (mainly lawyers who fear the loss of business if arbi tration provides an attractive alternative method of dispute resolution) have waged with considerable success to undermine the advantages of arbitration.

A most intriguing book! D George Leef is book review editor of The Freeman.

Money and the Nation State: The Financial Revolution, Government and the World Monetary System Edited by Kevin Dowd and Richard H. Timberlake Transaction Publishers • 1998 • 453 pages • $34.95 cloth; $19.95 paperback Reviewed by Bert Ely T his is a book on a vital-and much misunderstood-topic. It is sometimes excellent, but largely disappointing. The book consists of 13 chapters divided into three sections: The History of the Mod ern International Monetary System, Modern Money and Central Banking, and Founda tions for Monetary and Banking Reform. The editors' introduction provides a good summary of each chapter. As Merton Miller notes in the foreword, the authors felt free to "disagree among themselves in their interpretations of key events, empirical evi dence on devaluations, and a variety of other monetary issues." The book's first section is its strongest. The late Murray· Rothbard's contribution, "The Gold-Exchange .Standard in the Interwar Years," alone is worth the price. Rothbard is especially effective in differentiating the "gold-exchange" standard, which Britain adopted in 1925, from pre-World War I mon etary arrangements when gold coins circulat ed freely. Another noteworthy chapter is Frank van Dun's "National Sovereignty and International Monetary Regimes," in which the author draws on the work of political philosophers to explain why governments seek to dominate monetary systems at the expense of market efficiency.

The latter two sections generally reflect a weakness characterized by the first word in the book's title-an excessive emphasis on money that disregards how electronic technol ogy has altered the financial marketplace in recent years. By failing to describe how this marketplace actually works today, particularly in the industrialized nations, the authors mis interpret recent monetary events, which leads BOOKS 59 to policy prescriptions based on outdated understandings of that marketplace. Today, all forms of money are merely credit instruments that also readily serve as media of exchange. That is, coins, currency, and checkable bank deposits represent credit extended to the issuers of media of exchange . The authors seem not to understand that inflation is caused by excessively rapid credit expansion, because it is credit, not media of exchange per se, that gives individuals, busi nesses, and governments the ability to own assets or mortgage future income and tax col lections. Media of exchange merely represent one way to facilitate a purchase; using a cred it card or a check drawn against a pre-estab lished line of credit represents an increasing 1y common way of buying something without any "money" changing hands.

Such transactions create credit; credit growth in turn is controlled by interest rates. If rates are too low, in real or inflation adjusted terms, credit will grow too rapidly, causing inflation, regardless of what happens to the money supply. If rates are too high, credit demand will contract, eventually caus ing a recession, again regardless of changes in the money supply. Interest, of course, is a price. Therefore, price stability depends on how accurately the credit markets price interest. Inflation's decline in recent years reflects the improved functioning of the increasingly globalized financial marketplace in which debtors and creditors, acting out of self-interest, negotiate interest rates whose cumulative effect is to foster noninflationary credit growth. Unfortunately, the essays provide no sense of how the credit markets work and the over riding importance of properly priced interest even as they acknowledge the importance of the pricing mechanism generally. Conse quently, they present worn-out, statist solu tions, usually involving central banks, for ensuring price stability. For example, Steve Hanke and Kurt Schuler advocate currency boards (backing the local currency with the currency of another country). However, cur rency boards are unnecessary: merely guaran teeing the convertibility of government-issued 60 THE FREEMAN/IDEASON LIBERTY • JUNE 1999 currency into debt carrying a market rate of interest will protect any economy from a cur rency-driven inflation.

Lawrence White, Richard Timberlake, and others write fondly of a gold-based monetary standard. Gold and other specie standards, however, have never provided price stability, except over the very long term, nor have they been sustainable. Several authors advocate fixed exchange rates, but they are unsustainable and wreak economic havoc when the inevitable devalua tion occurs-witness today's Asian crisis. Robert Keleher, for example, argues in "Global Economic Integration: Trends and Alternative Policy Responses" that fixed exchange rates "minimize the variability and dispersion of many other prices, and so fur ther improve the workings of the price sys tem." Such price smoothing, though, distorts important price signals coming from the rest of the world. What advocates of fixed exchange rates ignore is that an exchange rate is a price, and therefore should no more be manipulated than the price of crude oil or toothpaste. Instead of distorting the pricing mechanism, public policy should ensure price stability by relying on market-determined prices, especially the price of credit and prices expressed in other currencies.

The subject of this book-ideal modem monetary and credit policies and institutions desperately needs a penetrating analysis. Sadly, this book fails to deliver it. I hope that the next book to address this subject will. D Bert Ely is a financial institutions and monetary pol icy consultant in Alexandria, Virginia. Policy Analysis and Public Choice: Selected Papers by William A. Niskanen Edward Elgar. 1998 • 448 pages • $95.00 Reviewed by Bruce Yandle T his volume has much to recommend it. First off, William Niskanen, chairman of the Cato Institute, presents an organized col lection of 34 papers that span his interesting and productive 40-year career as a profession al economist. Never so technical as to restrict access to readers of policy analysis, the papers cover issues as diverse as school choice, drug policy, Reaganomics, trade poli cy, voting rules, and the prospects for a liber al economic order. In short, the papers repre sent a delightful smorgasbord of policy analy sis by one who is at once a respected scholar and a friend of liberty.

But the range and quality of the papers is just one gainful reason for reading the book. The second reason, and perhaps the more interesting one, is that the collection reveals the author's preferences regarding the work of his long and impressive career. In that regard, Niskanen shows that he is as much concerned about rules of just conduct and constitutional constraints that assure a liberal order as he is about good economic analysis and the powerful insights offered by Public Choice. The papers demon strate thoughtful appreciation of both the nor mative and positive aspects of public policy. To Public Choice scholars, the name Niska nen brings an immediate association with his seminal work on bureaucratic tendencies to increase budgets and bargain with politicians in all-or-nothing deals to expand activities beyond efficient margins. To industry econo mists, the name generates memories of Ford Motor Company's chief economist who resigned after attempting to counter the firm's protectionist stance. To defense and govern ment economists, Niskanen is known for his work at the Pentagon and as acting chairman of President Reagan's Council of Economic Advisers. And to those who know none of this, the collection demonstrates the power of careful analysis to offer useful and sometimes unexpected insights.

Niskanen's 1994 paper on crime and police offers an example of the power of his think ing. After his analysis of the data, one begins to doubt the generally held idea that crime rates rose; for one thing, crime reporting has improved considerably. Moreover, what can be done to counter any possible crime increase? The author's conclusion: not much. To a large degree criminal activity represents tolerance for crime, the demise of rules ofjust conduct. The best thing the federal government could do would be simply to get out of the way by repealing its own crime legislation and encouraging state and local experiments. A strong believer in looking at the data, Niskanen does this in spades when he deals with drug policy. After modeling the problem, he concludes that legalization would reduce drug-control expenditures by as much as $10 billion annually, reduce violent crime and AIDS transmission, and generate substantial tax revenues from an excise tax on drugs. But Niskanen has a habit of recognizing all sides; so he describes the fallout that might be gen erated by a more open market for drugs: cocaine babies, increased health-care costs borne by taxpayers, and additional welfare dependency. Weighing the evidence, he con cludes that legalization could generate net benefits, but that some new costs would be produced along the way.

Niskanen's paper on economists and politi cians overflows with insights into the activi ties in the higher reaches of government. He begins with a question: Why do politicians hire economists? He stakes out his answer by describing canons of good policy analysis, which are worth studying. Niskanen then BOOKS 61 describes the rising status of economic advis ers in government, noting the arrogance that developed among those who thought Keynes ian economics would solve the nation's unem ployment problems. Finally, Niskanen returns to his Public Choice roots by observing that politicians hire economists to serve political interests. On the whole, the record of econo mists as policy advisers has been more con genial to the growth of government power than to liberty. Of all the papers in this stimulating book, my favorite is a graduation address given at Suomi College in Michigan in 1983. Here Niskanen lays out some simple but profound rules for living: recognize and reinforce your natural abilities, be willing to take risks, learn from the errors risk-taking generates, be hum ble, keep a sense of humor, and develop respect, but not fear, for the many mysteries of life.

Public Choice scholars, anyone who appre ciates strong policy analysis, and readers interested in political economy should put this book on their reading list. D Bruce Yandle is Alumni Professor of Economic and Legal Studies at Clemson University. The Freeman-Reaching Out to New-Readers If you know of a friend or colleague who might appreciate a free sample issue of The Freeman, please fill out the following form and return it to us in the postpaid envelope. Make sure to include your own name-we will mention you in the covering letter we send to the potential subscriber. We appreciate your assistance in finding new friends for liberty!

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