http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/ Home to freedom and prosperity, and free-market education for over 50 years Thu, 09 Feb 2012 21:58:24 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-35549 Externalities and the Environment | The Freeman | Ideas On Liberty Fri, 03 Feb 2012 00:09:23 +0000 http://fee.org?p=3#comment-35549 [...] The distorted incentives that operate in the public sector are responsible for many of our forest removal and logging problems. The difficulty stems from the fact that 42 percent of all U.S. land is owned by government.[5] The public forestry services do not operate by maximizing the value of their resources. Rather, they subsidize special interest groups who in turn support public ownership. For example, the U.S. Bureau of Land Management (BLM) uses a method known as chaining, which uproots trees, leaving holes and unsightly tracks, to remove trees from grazing lands. Although this costly method is seldom practiced in the private sector, the BLM has no incentive to minimize costs. It maximizes its budget by providing subsidized grazing rights for ranchers who in turn lobby for BLM expenditures.[6] The U.S. Forestry Service subsidizes logging companies to cut down trees on public lands by building logging roads for them.[7] The private firms thereby shift some of the costs of logging onto the public. Again, prices do not reflect the full costs of environmental destruction. Certainly if the business firms actually owned the land, they would better care for it because abusing it would reduce their prospects for future income.[8] [...] [...] The distorted incentives that operate in the public sector are responsible for many of our forest removal and logging problems. The difficulty stems from the fact that 42 percent of all U.S. land is owned by government.[5] The public forestry services do not operate by maximizing the value of their resources. Rather, they subsidize special interest groups who in turn support public ownership. For example, the U.S. Bureau of Land Management (BLM) uses a method known as chaining, which uproots trees, leaving holes and unsightly tracks, to remove trees from grazing lands. Although this costly method is seldom practiced in the private sector, the BLM has no incentive to minimize costs. It maximizes its budget by providing subsidized grazing rights for ranchers who in turn lobby for BLM expenditures.[6] The U.S. Forestry Service subsidizes logging companies to cut down trees on public lands by building logging roads for them.[7] The private firms thereby shift some of the costs of logging onto the public. Again, prices do not reflect the full costs of environmental destruction. Certainly if the business firms actually owned the land, they would better care for it because abusing it would reduce their prospects for future income.[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-35487 Home, Home on the Internet | The Freeman | Ideas On Liberty Tue, 31 Jan 2012 08:22:13 +0000 http://fee.org?p=3#comment-35487 [...] are reassembled into usable information.[7]One place to build fences will be at the server level.[8] Already, familiar on-line services, such as America Online and the Microsoft Network, require user [...] [...] are reassembled into usable information.[7]One place to build fences will be at the server level.[8] Already, familiar on-line services, such as America Online and the Microsoft Network, require user [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-35389 William E. Rappard: An International Man in an Age of Nationalism « Din Merican: the Malaysian DJ Blogger Mon, 23 Jan 2012 01:01:35 +0000 http://fee.org?p=3#comment-35389 [...] Institute’s faculty on the theme of The World Crisis, through which the world was then passing.8 [...] [...] Institute’s faculty on the theme of The World Crisis, through which the world was then passing.8 [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-35371 Is the Public Served by the Public Interest Standard? | The Freeman | Ideas On Liberty Fri, 20 Jan 2012 23:19:35 +0000 http://fee.org?p=3#comment-35371 [...] policies, even though no explicit grant of Congressional authority had been given to do so.[8]•       More recently, the FCC has attempted to serve “the public interest” by using the [...] [...] policies, even though no explicit grant of Congressional authority had been given to do so.[8]•       More recently, the FCC has attempted to serve “the public interest” by using the [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-35368 The Entrepreneur as a Defender of Liberty | The Freeman | Ideas On Liberty Fri, 20 Jan 2012 22:40:19 +0000 http://fee.org?p=3#comment-35368 [...] civil or human rights, it simultaneously ignored the material rights of private property.[8]When “due process” protection of economic rights was lost, America became vulnerable to the [...] [...] civil or human rights, it simultaneously ignored the material rights of private property.[8]When “due process” protection of economic rights was lost, America became vulnerable to the [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-35365 Obscenity: The Case for a Free Market in Free Speech | The Freeman | Ideas On Liberty Fri, 20 Jan 2012 20:26:35 +0000 http://fee.org?p=3#comment-35365 [...] jury, or community—for the judgment the First Amendment entrusts to each individual.”[8] Bolick might also add that the reasonable-man test places judges and juries in the absurd position [...] [...] jury, or community—for the judgment the First Amendment entrusts to each individual.”[8] Bolick might also add that the reasonable-man test places judges and juries in the absurd position [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-34440 Austrian Economics and the Political Economy of Freedom | The Freeman | Ideas On Liberty Sat, 29 Oct 2011 06:32:47 +0000 http://fee.org?p=3#comment-34440 [...] Yet most of us attending that conference did not consider ourselves on a fool’s errand. We just considered Austrian economics to be “good economics.”7 At its most fundamental level, Austrians see the individual as “acting man.” This was already clearly stated by Ludwig von Mises in 1933: In our view the concept of man is, above all else, also the concept of the being who acts. Our consciousness is that of an ego which is capable of acting and does act. The fact that our deeds are intentional makes them actions. Our thinking about men and their conduct, and our conduct toward men and toward our surroundings in general presuppose the category of action.8 [...] [...] Yet most of us attending that conference did not consider ourselves on a fool’s errand. We just considered Austrian economics to be “good economics.”7 At its most fundamental level, Austrians see the individual as “acting man.” This was already clearly stated by Ludwig von Mises in 1933: In our view the concept of man is, above all else, also the concept of the being who acts. Our consciousness is that of an ego which is capable of acting and does act. The fact that our deeds are intentional makes them actions. Our thinking about men and their conduct, and our conduct toward men and toward our surroundings in general presuppose the category of action.8 [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-33808 Can Industrial Policy Work? | The Freeman | Ideas On Liberty Fri, 30 Sep 2011 12:23:51 +0000 http://fee.org?p=3#comment-33808 [...] Market prices as a means of communication among investors. Samuelson’s statement focuses on what market prices communicate to the passive investor, while Hershman’s focuses on what they communicate to the active investor. Integrating these statements, we can see what the market, through its particular constellation of security prices, is telling each investor and potential investor at every moment: “Here, in the highly condensed form of security prices, is the sum total of all that everyone else knows and expects about the firms with shares outstanding. If you have something positive to contribute, in the form of new information or understanding, the market will tend to compensate you with profits. If you don’t, you are nevertheless protected to a large degree by the fact that other, more active, investors have bid stock prices to levels which reflect their knowledge and understanding.”[8] [...] [...] Market prices as a means of communication among investors. Samuelson’s statement focuses on what market prices communicate to the passive investor, while Hershman’s focuses on what they communicate to the active investor. Integrating these statements, we can see what the market, through its particular constellation of security prices, is telling each investor and potential investor at every moment: “Here, in the highly condensed form of security prices, is the sum total of all that everyone else knows and expects about the firms with shares outstanding. If you have something positive to contribute, in the form of new information or understanding, the market will tend to compensate you with profits. If you don’t, you are nevertheless protected to a large degree by the fact that other, more active, investors have bid stock prices to levels which reflect their knowledge and understanding.”[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-33643 Industrial Policy | The Freeman | Ideas On Liberty Thu, 15 Sep 2011 12:00:55 +0000 http://fee.org?p=3#comment-33643 [...] In answering Thurow’s glowing endorsement of farm policy, Richard McKenzie, an economist from Clem-son University, comes directly to the point: What such advocates fail to report is that we have an agricultural policy that props up the price of food for the rich and poor alike, that adds to the impoverishment of the lower-income groups in this and other countries, that contributes to the destruction of the soil base, and wastes a monumental amount of food—all in the interests of appeasing a very powerful political interest group.[8] [...] [...] In answering Thurow’s glowing endorsement of farm policy, Richard McKenzie, an economist from Clem-son University, comes directly to the point: What such advocates fail to report is that we have an agricultural policy that props up the price of food for the rich and poor alike, that adds to the impoverishment of the lower-income groups in this and other countries, that contributes to the destruction of the soil base, and wastes a monumental amount of food—all in the interests of appeasing a very powerful political interest group.[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-33620 Capitalism and the Zero | The Freeman | Ideas On Liberty Sun, 11 Sep 2011 00:05:25 +0000 http://fee.org?p=3#comment-33620 [...] Also in the thirteenth century, some governments began a tentative, but inexorable movement away from arbitrary taxation to a more predictable system for collecting revenue, controlled in England and later in Holland by the merchant class sitting in council rather than by kings or tax farmers. Kings put up with their diminution of the direct power to tax in exchange for a steady flow of revenue. One result in both England and Holland was that real capital assets such as vessels and trading stations could be owned and operated by private enterprises without fear of arbitrary seizure by sovereigns, a right that continental merchants—and, indeed, most of their counterparts in the Islamic world, India, and China—simply could not take for granted. This made large-scale private investment possible for the first time in markets previously the province only of governments or small-scale merchants.[8] [...] [...] Also in the thirteenth century, some governments began a tentative, but inexorable movement away from arbitrary taxation to a more predictable system for collecting revenue, controlled in England and later in Holland by the merchant class sitting in council rather than by kings or tax farmers. Kings put up with their diminution of the direct power to tax in exchange for a steady flow of revenue. One result in both England and Holland was that real capital assets such as vessels and trading stations could be owned and operated by private enterprises without fear of arbitrary seizure by sovereigns, a right that continental merchants—and, indeed, most of their counterparts in the Islamic world, India, and China—simply could not take for granted. This made large-scale private investment possible for the first time in markets previously the province only of governments or small-scale merchants.[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-33591 A Constitutional Counterrevolution | The Freeman | Ideas On Liberty Sun, 04 Sep 2011 01:49:50 +0000 http://fee.org?p=3#comment-33591 [...] Security,[5] income tax withholding,[6] Medicare and its progeny,[7] public education,[8] government data collection,[9] even asbestos regulation[10]—government officials seeking new [...] [...] Security,[5] income tax withholding,[6] Medicare and its progeny,[7] public education,[8] government data collection,[9] even asbestos regulation[10]—government officials seeking new [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-33584 Property and Liberty | The Freeman | Ideas On Liberty Sat, 03 Sep 2011 22:15:42 +0000 http://fee.org?p=3#comment-33584 [...] which lies in the various rights of individuals, as that which the term particularly expresses.”[8] The property that each citizen has in his rights is the foundation of his ability to control his [...] [...] which lies in the various rights of individuals, as that which the term particularly expresses.”[8] The property that each citizen has in his rights is the foundation of his ability to control his [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-33579 Inflation and Money: A Reply to Timberlake | The Freeman | Ideas On Liberty Sat, 03 Sep 2011 21:06:50 +0000 http://fee.org?p=3#comment-33579 [...] Rothbard clarified this point with the following example. Let us assume that as a result of the development of a sudden and widespread cultural aversion to the number 5 among the nonbank public, five-dollar bills are no longer accepted in exchange. When someone now wishes to exchange some of his five-dollar bills, he must first travel to the bank to convert them into dollar bills of other denominations. Now as long as these bills remain interchangeable at par and on demand into dollar bills of other denominations, no one would have reason to object to their inclusion in the money supply. Indeed, they would pass Yeager’s test: thus, if a helicopter were sent forth by the Fed to shower the country with additional billions of dollars in five-dollar bills, money prices and incomes would soon begin a general rise as the populace scrambled to spend their surplus cash balances. But as Rothbard pointed out, savings deposits are in precisely the same situation as the five-dollar bills in this example: other things equal, an increase in their total would create an excess supply of spendable dollars in the economy initiating an adjustment process that lowers the value of money. In fact, in the 1920s bank credit expansion resulted in a disproportionate growth in”time,” or savings, deposits vis-à-vis demand deposits, because businessmen were induced by the payment of interest on savings deposits to hold the less active portion of their balances in this type of bank account.[8] [...] [...] Rothbard clarified this point with the following example. Let us assume that as a result of the development of a sudden and widespread cultural aversion to the number 5 among the nonbank public, five-dollar bills are no longer accepted in exchange. When someone now wishes to exchange some of his five-dollar bills, he must first travel to the bank to convert them into dollar bills of other denominations. Now as long as these bills remain interchangeable at par and on demand into dollar bills of other denominations, no one would have reason to object to their inclusion in the money supply. Indeed, they would pass Yeager’s test: thus, if a helicopter were sent forth by the Fed to shower the country with additional billions of dollars in five-dollar bills, money prices and incomes would soon begin a general rise as the populace scrambled to spend their surplus cash balances. But as Rothbard pointed out, savings deposits are in precisely the same situation as the five-dollar bills in this example: other things equal, an increase in their total would create an excess supply of spendable dollars in the economy initiating an adjustment process that lowers the value of money. In fact, in the 1920s bank credit expansion resulted in a disproportionate growth in”time,” or savings, deposits vis-à-vis demand deposits, because businessmen were induced by the payment of interest on savings deposits to hold the less active portion of their balances in this type of bank account.[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-33524 The Drug War’s Assault on Liberty | The Freeman | Ideas On Liberty Mon, 22 Aug 2011 02:34:06 +0000 http://fee.org?p=3#comment-33524 [...] Hollywood and the media have certainly done their parts in feeding the current frenzy. Grisly news reports on the drug war and its victims boost ratings and provide ample grist for sensationalized TV specials and movies. This in turn creates the popular illusion that it is the drugs themselves that cause the violence and crimes associated with them, rather than their prohibition. Yet we have only to look back to the era of alcohol prohibition to identify the real source of drug-related violence. In the ten years following the end of alcohol prohibition, the murder rate from assault by firearms went down from a prohibition high of 16 per 100,000 of population in 1933 to less than nine per 100,000 by 1943.[8] [...] [...] Hollywood and the media have certainly done their parts in feeding the current frenzy. Grisly news reports on the drug war and its victims boost ratings and provide ample grist for sensationalized TV specials and movies. This in turn creates the popular illusion that it is the drugs themselves that cause the violence and crimes associated with them, rather than their prohibition. Yet we have only to look back to the era of alcohol prohibition to identify the real source of drug-related violence. In the ten years following the end of alcohol prohibition, the murder rate from assault by firearms went down from a prohibition high of 16 per 100,000 of population in 1933 to less than nine per 100,000 by 1943.[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-33520 The Declaration of Independence: It’s Greek to Me | The Freeman | Ideas On Liberty Sun, 21 Aug 2011 21:51:01 +0000 http://fee.org?p=3#comment-33520 [...] in itself, there is nothing religious or theological in the ‘Natural Law’ of Aquinas.”[8] The Protestant jurist Hugo Grotius defended the concept of natural law in his De Jure Belliac [...] [...] in itself, there is nothing religious or theological in the ‘Natural Law’ of Aquinas.”[8] The Protestant jurist Hugo Grotius defended the concept of natural law in his De Jure Belliac [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-33485 Gottfried Haberler: A Centenary Appreciation | The Freeman | Ideas On Liberty Wed, 17 Aug 2011 08:09:02 +0000 http://fee.org?p=3#comment-33485 [...] Furthermore, Haberler argued, precisely because a price-level index is an average of the set of individual market prices from which it is constructed, it may hide all the significant individual relative price changes beneath its statistical surface. “The relative position and change of different groups of prices are not revealed, but are hidden and submerged in a general index,” said Haberler. “Not the movement of the general price level, but the chronological succession of special price and price combinations . . . are regarded as significant for the waves of business life . . . . Such a general index rather conceals and submerges than reveals and explains those price movements that characterize and signify the movement of the [business] cycle.”[8] [...] [...] Furthermore, Haberler argued, precisely because a price-level index is an average of the set of individual market prices from which it is constructed, it may hide all the significant individual relative price changes beneath its statistical surface. “The relative position and change of different groups of prices are not revealed, but are hidden and submerged in a general index,” said Haberler. “Not the movement of the general price level, but the chronological succession of special price and price combinations . . . are regarded as significant for the waves of business life . . . . Such a general index rather conceals and submerges than reveals and explains those price movements that characterize and signify the movement of the [business] cycle.”[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-33469 Israel Kirzner on Supply and Demand | The Freeman | Ideas On Liberty Mon, 15 Aug 2011 22:08:00 +0000 http://fee.org?p=3#comment-33469 [...] in which the possibility of any competitive behaviour has been ruled out by definition.”[8] Moreover, “the theoretical concept of [perfect] competition is diametrically opposed to the [...] [...] in which the possibility of any competitive behaviour has been ruled out by definition.”[8] Moreover, “the theoretical concept of [perfect] competition is diametrically opposed to the [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-33270 Trade and the Rise of Freedom | The Freeman | Ideas On Liberty Tue, 02 Aug 2011 20:55:04 +0000 http://fee.org?p=3#comment-33270 [...] Mises summarized the relationship between free trade and peace most eloquently when he noted: What distinguishes man from animals is the insight into the advantages that can be derived from cooperation under the division of labor. Man curbs his innate instinct of aggression in order to cooperate with other human beings. The more he wants to improve his material well-being, the more he must expand the system of the division of labor. Concomitantly he must more and more restrict the sphere in which he resorts to military action . . . . Such is the laissez-faire philosophy of Manchester.[8] [...] [...] Mises summarized the relationship between free trade and peace most eloquently when he noted: What distinguishes man from animals is the insight into the advantages that can be derived from cooperation under the division of labor. Man curbs his innate instinct of aggression in order to cooperate with other human beings. The more he wants to improve his material well-being, the more he must expand the system of the division of labor. Concomitantly he must more and more restrict the sphere in which he resorts to military action . . . . Such is the laissez-faire philosophy of Manchester.[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-33044 Material Progress Over the Past Millennium | The Freeman | Ideas On Liberty Sat, 09 Jul 2011 20:22:51 +0000 http://fee.org?p=3#comment-33044 [...] And sanitation? The literary historian James Clifford, after years of note-taking on every reference he could find to sanitation in London, wrote an article that American historian Bernard Bailyn described simply as “horrifying.”[7] “A bathroom was a very rare luxury in . . . seventeenth- and eighteenth-century houses. Fleas, lice and bugs conquered London as well as Paris, rich interiors as well as poor,” wrote Braudel. “So if we moderns were to enter into an interior of the past, we would very soon feel uncomfortable. However beautiful it might be—and it was often wonderfully so—what seemed like luxury to the people of the past would not be enough for us.”[8] [...] [...] And sanitation? The literary historian James Clifford, after years of note-taking on every reference he could find to sanitation in London, wrote an article that American historian Bernard Bailyn described simply as “horrifying.”[7] “A bathroom was a very rare luxury in . . . seventeenth- and eighteenth-century houses. Fleas, lice and bugs conquered London as well as Paris, rich interiors as well as poor,” wrote Braudel. “So if we moderns were to enter into an interior of the past, we would very soon feel uncomfortable. However beautiful it might be—and it was often wonderfully so—what seemed like luxury to the people of the past would not be enough for us.”[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-33003 Wilhelm Röpke: A Centenary Appreciation | The Freeman | Ideas On Liberty Tue, 05 Jul 2011 19:55:38 +0000 http://fee.org?p=3#comment-33003 [...] Röpke concluded that this secondary depression served no healthy purpose, and the downward spiral of a cumulative contraction in production and employment could only be broken by government-induced credit expansion and public-works projects. Once the government introduced a spending floor below which the economy would no longer go, the market would naturally begin a normal and healthy upturn that would bring the economy back toward a proper balance.[8] [...] [...] Röpke concluded that this secondary depression served no healthy purpose, and the downward spiral of a cumulative contraction in production and employment could only be broken by government-induced credit expansion and public-works projects. Once the government introduced a spending floor below which the economy would no longer go, the market would naturally begin a normal and healthy upturn that would bring the economy back toward a proper balance.[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-32970 The Debt: Catastrophic Urgency, Little Concern | The Freeman | Ideas On Liberty Wed, 29 Jun 2011 13:15:46 +0000 http://fee.org?p=3#comment-32970 [...] capital investment and more efficient production can create wealth and revive and build an economy.[8] Because of these characteristics of inflation the temptation by those in government office to [...] [...] capital investment and more efficient production can create wealth and revive and build an economy.[8] Because of these characteristics of inflation the temptation by those in government office to [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-32883 The Central Fallacy of Public Schooling | The Freeman | Ideas On Liberty Mon, 13 Jun 2011 07:06:29 +0000 http://fee.org?p=3#comment-32883 [...] intrigues; she commits every crime in the calendar, such as arson, pillage, murder, and rape.”[8] Joel Spring commented, “From the standpoint of the public schools, [the CPI] was the first major [...] [...] intrigues; she commits every crime in the calendar, such as arson, pillage, murder, and rape.”[8] Joel Spring commented, “From the standpoint of the public schools, [the CPI] was the first major [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-32855 William H. Hutt: A Centenary Appreciation | The Freeman | Ideas On Liberty Wed, 08 Jun 2011 06:15:27 +0000 http://fee.org?p=3#comment-32855 [...] Say’s Law. He argued that Keynes’s definition, “supply creates its own demand,”[8] is a distortion of its actual meaning. Jean-Baptiste Say and other nineteenth-century classical [...] [...] Say’s Law. He argued that Keynes’s definition, “supply creates its own demand,”[8] is a distortion of its actual meaning. Jean-Baptiste Say and other nineteenth-century classical [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-32835 The Kosovo Tangle | The Freeman | Ideas On Liberty Mon, 06 Jun 2011 20:27:23 +0000 http://fee.org?p=3#comment-32835 [...] of medieval churches and the historical seat of the patriarch of the Serbian Orthodox Church.[8] The civil unrest was eventually quashed by the communist authorities, but thousands of Serbs fled [...] [...] of medieval churches and the historical seat of the patriarch of the Serbian Orthodox Church.[8] The civil unrest was eventually quashed by the communist authorities, but thousands of Serbs fled [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-32814 The Market and Political Freedom | The Freeman | Ideas On Liberty Fri, 03 Jun 2011 06:02:50 +0000 http://fee.org?p=3#comment-32814 [...] aimed to identify the effects of markets and politics on personality development.[8] Unfortunately, in his analysis the influence is one way: markets and politics influence [...] [...] aimed to identify the effects of markets and politics on personality development.[8] Unfortunately, in his analysis the influence is one way: markets and politics influence [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-32805 The Second Amendment in the Light of American Republicanism | The Freeman | Ideas On Liberty Wed, 01 Jun 2011 21:52:18 +0000 http://fee.org?p=3#comment-32805 [...] The wording of the actual text of the Second Amendment can be described as “sloppy draftsmanship” only in the sense that the sentence structure leaves itself open, perhaps, to deliberate and willful misreading that the amendment’s framers could never have foreseen. That they and their contemporaries understood what they were about, and what the amendment means, is clear from the state proposals cited as well as from a mountain of related language in contemporary opinion and private communications. Judge Joseph Story of Massachusetts—High Federalist, U.S. Supreme Court Justice, and a founder of the Yankee theory of the union—wrote in 1840 that the right to keep and bear arms is “the palladium of the liberties of a republic; since it offers a strong moral check against the usurpations and arbitrary power of rulers; and it will generally, even if these are successful in the first instance, enable the people to resist and triumph over them.”[8] [...] [...] The wording of the actual text of the Second Amendment can be described as “sloppy draftsmanship” only in the sense that the sentence structure leaves itself open, perhaps, to deliberate and willful misreading that the amendment’s framers could never have foreseen. That they and their contemporaries understood what they were about, and what the amendment means, is clear from the state proposals cited as well as from a mountain of related language in contemporary opinion and private communications. Judge Joseph Story of Massachusetts—High Federalist, U.S. Supreme Court Justice, and a founder of the Yankee theory of the union—wrote in 1840 that the right to keep and bear arms is “the palladium of the liberties of a republic; since it offers a strong moral check against the usurpations and arbitrary power of rulers; and it will generally, even if these are successful in the first instance, enable the people to resist and triumph over them.”[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-32786 Bogus Freedom | The Freeman | Ideas On Liberty Sun, 29 May 2011 23:41:39 +0000 http://fee.org?p=3#comment-32786 [...] was clearly just as important as freedom from the political constraint of kings and tyrants.”[8] Carr justified the array of economic controls in postwar Britain: “The price of liberty is the [...] [...] was clearly just as important as freedom from the political constraint of kings and tyrants.”[8] Carr justified the array of economic controls in postwar Britain: “The price of liberty is the [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-32730 Capitalism: Discrimination’s Implacable Enemy | The Freeman | Ideas On Liberty Mon, 23 May 2011 04:16:28 +0000 http://fee.org?p=3#comment-32730 [...] Among full-time, college-educated workers, about the same percentage of blacks and whites have executive, administrative, or managerial jobs.[8] [...] [...] Among full-time, college-educated workers, about the same percentage of blacks and whites have executive, administrative, or managerial jobs.[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-32691 Nightmare in Green | The Freeman | Ideas On Liberty Tue, 10 May 2011 18:36:53 +0000 http://fee.org?p=3#comment-32691 [...] Minister Gro Harlem Brundtland, who was also vice president of the International Socialist Party.[8] Brundtland readily admitted that the Earth Summit agenda was based on the party’s platform. [...] [...] Minister Gro Harlem Brundtland, who was also vice president of the International Socialist Party.[8] Brundtland readily admitted that the Earth Summit agenda was based on the party’s platform. [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-32606 Dr. Andrew Ure: Pioneer Free Trader | The Freeman | Ideas On Liberty Wed, 20 Apr 2011 06:39:23 +0000 http://fee.org?p=3#comment-32606 [...] Ure was one of the few who had the courage and insight to see the consequences of the Sadler Commission and publicly state that the charges were lies. “Of 89 witnesses, only 3 came from Manchester, although it is the largest manufacturing town . . . . [O]ne was a convicted rapist. [Another] would not take the oath.” When the regulatory bills were debated in Parliament, Ure called them “worthy of the darkest ages.”[8] [...] [...] Ure was one of the few who had the courage and insight to see the consequences of the Sadler Commission and publicly state that the charges were lies. “Of 89 witnesses, only 3 came from Manchester, although it is the largest manufacturing town . . . . [O]ne was a convicted rapist. [Another] would not take the oath.” When the regulatory bills were debated in Parliament, Ure called them “worthy of the darkest ages.”[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-32522 A New Monetary Universe | The Freeman | Ideas On Liberty Wed, 06 Apr 2011 03:42:13 +0000 http://fee.org?p=3#comment-32522 [...] The market will fill the void and provide a new monetary standard as people demand sound money. Private entrepreneurs will have an incentive to maintain the value of their currencies or be forced out of business; consumers will unload bad monies and switch to monies with reliable purchasing power.6 A market-driven monetary regime will then emerge in which the monetary unit would be fixed in value by making it convertible into a basket of commodities or, more likely, into mutual fund shares.7 Market forces will ensure that the supply of money will respond to changes in demand without experiencing the disrupting effects of monetary disequilibrium that occur under the current fiat money regime, in which money has no guaranteed value.8 [...] [...] The market will fill the void and provide a new monetary standard as people demand sound money. Private entrepreneurs will have an incentive to maintain the value of their currencies or be forced out of business; consumers will unload bad monies and switch to monies with reliable purchasing power.6 A market-driven monetary regime will then emerge in which the monetary unit would be fixed in value by making it convertible into a basket of commodities or, more likely, into mutual fund shares.7 Market forces will ensure that the supply of money will respond to changes in demand without experiencing the disrupting effects of monetary disequilibrium that occur under the current fiat money regime, in which money has no guaranteed value.8 [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-13382 Deficits Are Not the Only Problem | The Freeman | Ideas On Liberty Sun, 06 Jun 2010 02:22:11 +0000 http://fee.org?p=3#comment-13382 [...] (and billion) dollar ventures require vast sums of capital which can only be borrowed.[8] Thus, deficit or no deficit, governments will continue to suck capital from private markets in [...] [...] (and billion) dollar ventures require vast sums of capital which can only be borrowed.[8] Thus, deficit or no deficit, governments will continue to suck capital from private markets in [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-12914 Science Coming Out of the Closet | The Freeman | Ideas On Liberty Thu, 08 Apr 2010 19:54:10 +0000 http://fee.org?p=3#comment-12914 [...] • Is it “a good understanding of what has come before” when a demographer proclaims that civilization will come to a halt due to scarcity of a certain resource? Yet history shows us that resource shortages have existed as long as civilization, and never has a nation fallen due to the depletion of a resource.[8] [...] [...] • Is it “a good understanding of what has come before” when a demographer proclaims that civilization will come to a halt due to scarcity of a certain resource? Yet history shows us that resource shortages have existed as long as civilization, and never has a nation fallen due to the depletion of a resource.[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-12685 Insurance Redlining and Government Intervention | The Freeman | Ideas On Liberty Fri, 12 Mar 2010 01:43:45 +0000 http://fee.org?p=3#comment-12685 [...] areas. This can only be done by increasing the amount of capital that each person has to work with,[8] including physical capital, such as machinery and equipment, and human capital, for example, [...] [...] areas. This can only be done by increasing the amount of capital that each person has to work with,[8] including physical capital, such as machinery and equipment, and human capital, for example, [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-12683 Russell Kirk’s Conception of Decadence | The Freeman | Ideas On Liberty Fri, 12 Mar 2010 01:14:24 +0000 http://fee.org?p=3#comment-12683 [...] As Kirk used to point out, it is of immense practical importance that groups of families join together in a cult, for only then will they share a moral code. And only when they share a moral code can they begin to cooperate on a large enough scale to defend themselves against marauders while advancing against the brute forces of nature.[8] [...] [...] As Kirk used to point out, it is of immense practical importance that groups of families join together in a cult, for only then will they share a moral code. And only when they share a moral code can they begin to cooperate on a large enough scale to defend themselves against marauders while advancing against the brute forces of nature.[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-12675 The Mont Pelerin Society’s 50th Anniversary | The Freeman | Ideas On Liberty Thu, 11 Mar 2010 23:35:16 +0000 http://fee.org?p=3#comment-12675 [...] a chapter of his book Memoirs of an Unregulated Economist to the Society’s first meeting.[8] The popularity of Hayek’s book, he wrote, led a conservative midwest foundation, the Volker [...] [...] a chapter of his book Memoirs of an Unregulated Economist to the Society’s first meeting.[8] The popularity of Hayek’s book, he wrote, led a conservative midwest foundation, the Volker [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-12655 The Moral Obligations of Workers | The Freeman | Ideas On Liberty Mon, 08 Mar 2010 23:29:48 +0000 http://fee.org?p=3#comment-12655 [...] all, private property, which Wyszynski calls the leading principle of a well-regulated society.[8] The true glory of private property is not that it allows personal accumulation. Rather, it allows [...] [...] all, private property, which Wyszynski calls the leading principle of a well-regulated society.[8] The true glory of private property is not that it allows personal accumulation. Rather, it allows [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-12631 Say’s Law Is Back | The Freeman | Ideas On Liberty Wed, 03 Mar 2010 13:43:37 +0000 http://fee.org?p=3#comment-12631 [...] pile up, production to be cut back, income to fall, and finally consumer spending to drop. As Kates elucidates, “Classical theory explained recessions by showing how errors in production might arise during cyclical upturns which would cause some goods to remain unsold at cost-covering prices.” The classical model was a “high-sophisticated theory of recession and unemployment” that with one fell swoop by the illustrious Keynes was “obliterated.”[8] [...] [...] pile up, production to be cut back, income to fall, and finally consumer spending to drop. As Kates elucidates, “Classical theory explained recessions by showing how errors in production might arise during cyclical upturns which would cause some goods to remain unsold at cost-covering prices.” The classical model was a “high-sophisticated theory of recession and unemployment” that with one fell swoop by the illustrious Keynes was “obliterated.”[8] [...]

]]> http://www.fee.org/articles/walter-kronkite-invites-henry-hazlitt-to-dinner/comment-page-1/#comment-12326 On Trial Again | The Freeman | Ideas On Liberty Tue, 12 Jan 2010 06:21:52 +0000 http://fee.org?p=3#comment-12326 [...] civil penalties, its own ideas and practices as rules of conduct on those who dissent from them.[8] How unfortunate that there was no protection for Michael Milken, because by objective utilitarian [...] [...] civil penalties, its own ideas and practices as rules of conduct on those who dissent from them.[8] How unfortunate that there was no protection for Michael Milken, because by objective utilitarian [...]

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