June 1990
Volume 40, 1990FEATURES
Perspective: Individual Rights
JUNE 01, 1990 by MILLER UPTON
The Economic Wisdom of A Connecticut Yankee
JUNE 01, 1990 by RUSSELL SHANNON
Taking the Train to Metamora
JUNE 01, 1990 by WILLIAM B. IRVINE
The Theory of Due Reparations
JUNE 01, 1990 by RIDGWAY K. FOLEY JR.
From Gangland to Corporate America
JUNE 01, 1990 by WILLIAM GRANVILLE JR.
Perestroikas Missing Ingredient
JUNE 01, 1990 by E.C. PASOUR
Consumer Sovereignty
JUNE 01, 1990 by BETTINA BIEN GREAVES
From time to time, insightful economists have described the operations of a market economy. Many have noted that no central planner is needed to tell producers what to produce, when to produce, how much to produce, and what quality to produce. Adam Smith, often called the "first economist," pointed out in 1776 that the butcher, the baker, and the brewer are guided as if by "an invisible hand." Frederic Bastiat remarked in 1845 that Parisians need not fear starving the next day, but could sleep peacefully in their beds, confident that the city would be provisioned during the night.
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