December 2005Volume 55, 2005
The Best Monetary Policy Would Be No Monetary Policy at All
DECEMBER 01, 2005 by RICHARD EBELING
In all of the commentaries that have appeared since President George W. Bush nominated Dr. Ben S. Bernanke as Alan Greenspan
Wal-Mart Shouldn't Take Over FEMA--Wal-Mart Should Replace FEMA
DECEMBER 01, 2005 by SHELDON RICHMAN
Bureaucracies Cannot Prevent or Mitigate Damage from Natural Disasters
DECEMBER 01, 2005 by ROBERT P. MURPHY
By now everyone is aware of the almost inconceivableincompetence of the Federal Emergency Management Agencys (FEMA) response to Hurricane Katrina.Those who cherish liberty might think this episode would bolster their cause.However, as usual the states intellectual bodyguards have attempted to use this disaster to justify ever higher budgets and even more dictatorial powers.
Foreign Aid to Africa Is Harmful
DECEMBER 01, 2005 by LAWRENCE W. REED
At the G8 Summit in Scotland last July, hosted by Britains Tony Blair, European and North American politicians (all of them white) cried crocodile tears for the plight of black Africans. Echoing a gaggle of actors, rock stars, socialist ideologues, Third World dictators, and other learned economic-developmentexperts, they called for another transfer of wealth from developed nations to the undeveloped ones of Africawhich, by most measures, would seem to exclude no country on the continent.
Our Ideas about Mad Geniuses Are Modern Inventions
DECEMBER 01, 2005 by THOMAS S. SZASZ
Our ideas about genius, madness, and the existence of a close relationship between them are modern inventions. For millennia people explained the world about themespecially creative/good and destructive/bad behaviorsin spiritual or god terms.
No Planning Board Could Have Invented These Products
DECEMBER 01, 2005 by BURTON FOLSOM
The 1920s was a decade that taught us many lessonsin economicsperhaps foremost amongthem is that cutting tax rates encouraged entrepreneursto invest in a variety of revolutionary products,from radios to refrigerators.
Relative Prices, Not Absolute Prices, Influence Behavior
DECEMBER 01, 2005 by WALTER E. WILLIAMS
Someone might have made you a gift of The Freeman.Does that mean reading this article is free?The answer is a big fat no.
Taxpayer-Funded Disaster Relief Is Inefficient and Ineffective
DECEMBER 01, 2005 by DWIGHT R. LEE
The waste, delays, and incompetence that characterize FEMA are the result of a free-rider problem inherent in all federal spending programs.
Taxpayers Are Hit Twice by Anticompetitive Government Construction Contracts
DECEMBER 01, 2005 by GEORGE C. LEEF
Guatemala Boasts an Impressive Community of Classical Liberals
DECEMBER 01, 2005 by DONALD BOUDREAUX
Driving to my hotel from the Guatemala City airport on my first trip to Guatemala in January 2000, I commented to my host that I was pleasantly surprised to find no customs agents ransacking peoples luggage. In fact, once my fellow fliers and I had our passports stamped by the passport-control officials, the airport was refreshingly clear of the usual swarms of harassing government officials.