The Freeman 1995

THEFREEMAN IDEAS ON LIBERTY FEATURES 276 Henry Hazlitt: Journalist ofthe Century by Llewellyn H. Rockwell, Jr. The inspiring legacy of"the economic conscience ofour country and our nation." 282 H. G. Wells in Russia by Martin Gardner Remembering Wells' long-forgotten 1920 book, Russia in the Shadows. 288 "Zero Inflation": A Flawed Ideal by George A. Selgin Proponents presume a stationary economy. 290 Pearl Jam vs. Ticketmaster: A Holy War on Reality by Charles Bilodeau Rock bands, middlemen, and ticket prices. 296 Spending Money Freely by Lawrence H. White There is more at stake in electronic funds transfer than simply convenient payment methods. 300 Phones and Freedom by Marty Mattocks In telecommunications as elsewhere, a free market is the most fertile arena for human progress. 304 Live Freely, Live Longer by Max More Liberating life extension research from growing government control. 307 Two Insights for Business Ethics by Douglas B. Rasmussen Individual rights and human moral well-being. 309 Rights versus "Rights" by Tibor R. Machan Exploring the nature ofnegative and positive rights. 313 Bilingual by Choice by James M McCaffery Parents, not government, should determine the language training of children. 316 Rolling Back the Imperial Congress by Ralph R. Reiland Free markets and limited government are the key to prosperity. 318 John Stuart Mill's Immortal Case for Toleration by Jim Powell The legacy of On Liberty. 322 The Story of a Movement by Peter J Boettke Karen Vaughn's Austrian Economics in America. COLUMNS Center NOTES from FEE-Woeful Bankers by Hans F: Sennholz 294 IDEAS and CONSEQUENCES-The Right Direction for Welfare Reform by Lawrence W Reed 311 A MAITER of PRINCIPLE-In Praise of Pain by Robert James Bidinotto 327 ECONOMICS on TRIAL-Did the Gold Standard Cause the Great Depression? by Mark Skousen DEAARTMEN~ .' 274 Perspective-Roger Clites, Donald Kagan, Thomas L. Martin 335 Letters to the Editor 329 Book Reviews -Hayek on Hayek: An Autobiographical Dialogue edited by Stephen Kresge and LeifWenar, reviewed by Robert Batemarco; -The New Unionism in the New Society: Public Sector Union in the Redistributive States by Leo Troy, reviewed by Charles W Baird; -Race and Culture: A World View by Thomas Sowell, reviewed by John W Robbins; -Education and the State: A Study in Political Economy, Third Edition by E. G. West, reviewed by Julio H. Cole. THEFREEMAN IDEAS ON UBERTY PERSPECTIVE Published by The Foundation for Economic Education Destructive Achievement Irvington-on-Hudson, NY 10533 Phone (914) 591-7230 FAX (914) 591-8910 Twenty-five years ago I met a nineteen President: Hans F. Sennholz Managing Editor: Beth A. Hoffman year-old man who liked to brag that he had Guest Editor: Lawrence H. White "tom up" seven cars. Apparently that was Editor Emeritus the only noteworthy thing that he had ever Paul L. Poirot Lewisburg, Pennsylvania done. Today he would be forty-four years Book Review Editor Robert Batemarco old, assuming he is still alive. Recently I Marymount College, Tarrytown, New York Assistant Editor wondered what had happened to him and Gregory P. Pavlik Columnists what he is now doing. Robert James Bidinotto Is he still tearing down the achievements Staff Writer, Reader's Digest Lawrence W. Reed ofothers? Ifso, how does he justify it? How Mackinac Center for Public Policy Midland, Michigan does he "get away" with it? Mark Skousen . Rollins College, Winter Park, Florida Might he be a member of the political Contributing Editors Charles W. Baird establishment that limits the amount ofland California State University, Hayward that farmers may cultivate? Might he be Doug Bandow Cato Institute, Washington, D.C. blocking the work of loggers, or of coal E. Calvin Beisner Covenant College, Chattanooga, Tennessee miners, or any of uncounted other produc Peter J. Boettke New York University tive individuals? Donald J. Boudreaux Clemson University At least the young man was honest about Clarence B. Carson American Textbook Committee what he did. He said that he "tore up cars." Wadley, Alabama His specialty was overwhelming transmis John Chamberlain Cheshire, Connecticut sions but anything that would disable a car Thomas J. DiLorenzo Loyola College, Baltimore, Maryland satisfied him. He knew that what he did was Joseph S. Fulda New York, New York destructive, was counterproductive, and he Roger W. Garrison Auburn University made no bones about it. Bettina Bien Greaves Resident Scholar, FEE Unfortunately, the advocates of various Robert Higgs causes and the elected officials and bureau The Independent Institute, Oakland, California John Hospers crats who assist the advocates claim to be University ofSouthern California Tibor R. Machan -- guided by nobler motives. But their coun Auburn University Ronald Nash terproductive actions are often far more Reformed Theological Seminary Maitland, Florida harmful to the economy, and particularly to Edmund A. Opitz Chatham, Massachusetts others, than was the warped young man who James L. Payne Sandpoint, Idaho tore up cars as a way of satisfying his need William H. Peterson to· achieve. Washington, D.C. Jane S. Shaw Unless the car wrecker caused an acci PERC, Bozeman, Montana Richard H. Timberlake dent that involved someone else---and, for University ofGeorgia Lawrence H. White tunately, he had not at the time I met University ofGeorgIa him-the damage which he caused affected The Freeman is the monthly publication of The Foundation for Economic Education, Inc., Irvington-on-Hudson, NY 10533. FEE, primarily his own property and·economic established in 1946 by Leonard E. Read, is a non-political, educa well-being. tional champion of private property, the free market, and limited government. FEE is classified as a 26 USC 501(c)(3) tax-exempt Those who seek to limit the productive organization. Copyright © 1995 by The Foundation for Economic Education. actions of others may appear to be less Permission is granted to reprint any article in this issue, except "H.G. Wells in Russia" and "John Stuart Mill's Immortal Case for Tolera deserving ofour condemnation but, in real tion," provided appropriate credit is given and two copies of the reprinted material are sent to The Foundation. ity, they actually do far more total damage The costs of Foundation projects and services are met through donations, which are invited in any amount. Donors of$30.00 or more than did the car wrecker. receive a subscriptionto The Freeman. Student subscriptions are$10.00 for the nine-month academic year; $5.00 per semester. Additional This is not to excuse the young man. It is copies ofsingle issues ofThe Freeman are $2.00. For foreign delivery, simply to point out that seemingly respect a donation of$40.00 a year is suggested to cover mailing costs. Bound volumes ofThe Freeman are available from The Foundation able people who claim that they are acting for calendar years 1972 to date. The Freeman is available in microform from University Microfilms, 300 N. Zeeb Rd., Ann Arbor, MI48106. with good motives, even sacrificing for the 274 PERSPECTIVE benefit of others, are often either hypocrit The Blessings of Earthquakes? ical orelse are fooling themselves when they act in ways that destroy far more than did A January New York Times article cited the young man who "tore up cars." experts who claimed that the Kobe earth -ROGER CLITES quake could give a boost to a Japanese Professor Clites teaches at Tusculum Col economy struggling to recover from a long lege in Tennessee. recession. Henry Hazlitt has passed on, but I imagine he would have said, "There you go The Role of the West again using the 'broken-window fallacy.' " "The broken-window fallacy, under a Americans do not share a common ances hundred disguises, is the most persistent in try and a common blood. They and their the history ofeconomics," Hazlitt observed forebears come from every comer of the in Economics in One Lesson. The fallacy is earth. What they have in common and what "solemnly reaffirmed" daily by editorial brings them together is a system oflaws and writers and''professors ofeconomics in our beliefs that shaped the establishment ofthe best universities" who see "almost endless country, a system developed within the benefits in enormous acts of destruction" context of Western Civilization. It should with its consequent stimulation of produc be obvious, then, that all Americans need tion. to learn about that civilization if we are to Of course, what makes the fallacy so understand our country's origins, and share initially tempting is that the "experts" are at in its heritage, purposes, and character.... least right in the first conclusion that there The assault on the character of Western will be more business for the construction Civilization badly distorts history. Its flaws industry. But this new activity arises at the are real enough, but they are common to opportunity cost oflost business elsewhere, almost all the civilizations known on any which will not occur because money is continent at any time in human history. redirected toward reconstruction. As Haz What is remarkable about the Western her litt put it, the experts "see only what is itage and what makes it essential is the immediately visible to the eye" while ne important ways in which it has departed glecting the invisible costs to the rest ofthe from the common experience. More than economy. any other it has asserted the claims of the Hazlitt was right. Resist the temptation individual against those ofthe state, limiting ofthe broken-window fallacy! If the fallacy its power and creating a realm of privacy is accepted, we should then be prepared to into which it cannot penetrate.... accept bombing campaigns as part of the It has produced the theory and practice of next fiscal stimulus package! the separation ofchurch from state, thereby -THOMAS L.

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