Lessons from Our First Constitution by William J

Total Page:16

File Type:pdf, Size:1020Kb

Lessons from Our First Constitution by William J IndependentNEWSLETTER OF THE INDEPENDENT INSTITUTE Vol. 26 / No. 3 / Fall 2016 Lessons from Our First Constitution By William J. Watkins, Jr. IN THIS ISSUE very four years, politicians hoping to E win the presidential election make 1 Lessons from Our First hundreds of speeches meant to convince the American voter that they are uniquely Constitution qualified to “solve” the crises of the day. When they get around to talking about 2 President’s Letter the U.S. Constitution (if they do at all), they leave the impression that the nation’s 3 The Independent charter is “the best of all possible worlds.” Review This myth is as old as the Republic. The usual story is that the Constitution 4 Independent saved the thirteen states from ruin by Institute in the News the impotent Articles of Confederation. Without the compromises reached in Philadelphia in 1787, the story goes, we would be living in a land 5 New Book: Failure: that was politically fragmented, economically impoverished, and The Federal militarily weak. Misedukation of It’s true the Articles were flawed. Nevertheless, they enabled the emerg- America’s Children ing nation to defeat the superpower that was Great Britain. They also pre- served the rights of the people of the several states to govern themselves. Several of its provisions sound appealing today: 6 Conferences, Expos, and Summits • Term limits for delegates. This was included to help prevent special interests from gaining undue influence. People who complain about the high incumbency rate in the House of Representatives should 7 George Gilder on credit the Articles for anticipating such a problem. Knowledge and the • Supermajority requirement for borrowing money. Since govern- American Dream ment debts are paid with tax revenue (and/or inflation) this rule was meant to discourage “taxation without representation.” Given our current $19 trillion national debt, many people should see its wisdom. 8 Inspiring Alternatives • Restraint of central government. Article II ensured that the Con- for American federation Congress could not claim broad authority to meddle in Millennials local matters. The Constitution, in contrast, has done a poor job at limiting the reach of our masters in Washington, D.C. The three features above give us good reason to consider rescuing the Articles of Confederation from the dustbin of history. They have much to teach us if only we would listen. William J. Watkins, Jr. is a Research Fellow at Independent Institute and author of the new book, Crossroads for Liberty: Recovering the Anti-Federalist Values of America’s First Constitution. OUR NEW BOOK CROSSROADS FOR LIBERTY IS AVAILABLE THIS OCTOBER 2016 100 Swan Way, Oakland, CA 94621-1428 T: 510-632-1366 • F: 510-568-6040 www.independent.org THE POWER OF INDEPENDENT THINKING 2 THE POWER OF INDEPENDENT THINKING PRESIDENT’S LETTER A New Independence he Brexit referendum victory, which kicks Education is also primed for pro-independence Toff a two-year process for the United King- innovations. Research Fellow Vicki E. Alger’s dom to leave the European Union, has sent new book, Failure: The Federal Miseduka- shock waves across the world. It also refl ects tion of America’s Children (p. 5), exposes the growing movements against centralized power, failures of federal power in K–12 schooling corruption, and runaway bureaucracy. and higher education, and charts a course for a Around the globe, people fed up with unrespon- variety of school choice measures. sive, arrogant, and overbearing government are While today’s headlines are often bleak, this is an challenging the complacency—and even the exciting time to work on behalf of independence very legitimacy—of Big Government elites. The from Big Government folly. goal of this movement? Independence. We invite you to join with us in advancing this Americans have their own mighty tradition of mission by becoming an Independent Institute rebelling against tyranny, fi rst inscribed in the Member. With your tax-deductible member- Declaration of Independence and quickly man- ship, you can receive a FREE copy of Cross- ifested in the colonies’ successful secession from roads for Liberty or Failure and other publi- the British empire. cations, including The Independent Review Important but neglected lessons of this noble (p. 3), plus other benefi ts (see envelope). heritage are revealed in the new Independent We hope to work with you to advance the bound- book, Crossroads for Liberty, by William J. less possibilities only a free society provides. Watkins, Jr. (p. 1). Especially timely are lessons about independence and opportunity. Today, the entrepreneurial advances of the “sharing” economy and decentralized innova- tion offer historic opportunities to circumvent the leviathan that has long favored the political class at the expense of Main Street. New ideas are also challenging government dominance and dependency. In healthcare, for example, Independent’s books A Better Choice and Priceless by Senior Fellow John C. Good- man have inspired bold legislative alternatives to Obamacare. DAVID J. THEROUX Founder and President EXECUTIVE STAFF Ivan Eland David J. Th eroux Senior Fellow Sally S. Harris Founder, President, John C. Goodman Vice Chairman of the Board, and Chief Executive O cer Senior Fellow Albert Schweitzer Fellowship Mary L. G. Th eroux Robert Higgs Peter A. Howley Jonathan Bean Senior Vice President Senior Fellow Chairman, Howley Management Group Professor of History, Southern Illinois University Martin Buerger Lawrence J. McQuillan Philip Hudner, Esq. Vice President and Senior Fellow Of Counsel, Botto Law Group, LLC Herman Belz Chief Operating O cer Professor of History, Robert H. Nelson Gary G. Schlarbaum, University of Maryland Susan E. Mangels Senior Fellow Vice President and Ph.D., CFA Thomas Bethell Chief Development O cer Charles V. Peña Managing Director, Author, The Noblest Triumph: Property William F. Shughart II Senior Fellow Palliser Bay Investment Management and Prosperity Through the Ages Research Director and Senior Fellow Benjamin Powell Susan Solinsky Thomas Borcherding Senior Fellow Partner, Reditus Revenue Solutions Professor of Economics, Carl P. Close Claremont Graduate School Research Fellow, Senior Editor Randy T Simmons W. Dieter Tede Senior Fellow President, Hopper Creek Winery Boudewijn Bouckaert Roy M. Carlisle Professor of Law, Acquisitions Director Alexander T. Tabarrok David J. Teece, Ph.D. University of Ghent, Belgium Senior Fellow Chairman and CEO, Kim Cloidt Berkeley Research Group, LLC Allan C. Carlson Marketing and Alvaro Vargas Llosa President, Howard Center for Family, Communications Director Senior Fellow David J. Theroux Religion, and Society Founder and President, Denise Tsui Richard K. Vedder The Independent Institute Robert D. Cooter Publications Director Senior Fellow Herman F. Selvin Professor of Law, Mary L. G. Theroux University of California, Berkeley Paul J. Theroux Former Chairman, Garvey International Technology Director Robert W. Crandall Cecilia Santini BOARD OF DIRECTORS Senior Fellow, Brookings Institution Editorial Associate BOARD OF ADVISORS Richard A. Epstein New York University Robert M. Whaples Gilbert I. Collins Managing Editor, Private Equity Manager The Independent Review Leszak Balcerowicz George Gilder John Hagel III. J.D. Professor of Economics, Senior Fellow, Discovery Institute Bruce L. Benson Co-Chairman, Center for the Edge, Warsaw School of Economics Deloitte & Touche USA LLC Nathan Glazer Senior Fellow Professor of Education and Sociology, Harvard University NEWSLETTER OF THE INDEPENDENT INSTITUTE 3 THE INDEPENDENT REVIEW Fleecing the Young / The War on Drugs in Afghanistan Fleecing the Young Lomasky warns that these measures oung Americans can expect to by themselves would likely not pre- Yget much less for their tax dollars vent older generations from imposing than have their elders, but they’ve burdens on the young. Ensuring that had little say in the decisions respon- intergenerational justice prevails, he sible for the problem. Social Security says, would require fundamental is the obvious example, but other changes in attitudes about the appeal cases of intergenerational injustice of the welfare state. also loom large. The War on Drugs in Afghanistan University of Virginia philosophy pro- The war on drugs in Afghanistan fessor Loren E. Lomasky sheds light was supposed to support the war on on the topic in“Fleecing the Young.” terror, but instead it has strengthened After explaining three principles the Taliban insurgency and under- essential for a moral analysis of intergenerational mined other U.S. goals, according to justice issues, Lomasky shows how they apply to Christopher J. Coyne, Abigail R. Hall Blanco, specific problems that disproportionately harm and Scott Burns (“The War on Drugs in Afghani- young people. Here are two: stan: Another Failed Experiment with Interdiction”). • Debt. Borrowing money raises questions of jus- U.S. drug policy in Afghanistan, they argue, had tice when borrowers are distinct from the party several consequences that undermined counterter- responsible for paying off public debt, usually rorism and nation building: the young or unborn. • Contradictions and confusions. After the U.S. • Work. Minimum-wage laws and other policies military invaded Afghanistan in October 2001, create higher rates of youth unemployment. it paid local warlords to help defeat the Taliban. The warlords in turn offered protection services To promote intergenerational justice, Lomasky pro- to opium growers. There
Recommended publications
  • The Weekly Newsletter of Ucsd Connect
    TUESDAY MARCH 31,1998 ISSUE 8-12 HTTP://WWW.CONNECT.ORG/CONNECT [email protected] connectTHE WEEKLY NEWSLETTER OF UCSD CONNECT GEORGE GILDER TO PEEK INTO COMMQUEST/IBM TO CREATE NEW FUTURE AT MAY 27 TELCOM EVENT GENERATION OF MOBILE APPLIANCES By Debbie Andersen, QUALCOMM ([email protected]) By Ann Marsh ([email protected]) George Gilder has spoken at the Vatican, testified before United On February 11 of this year, IBM announced a $180 million States Senate sub-committees on Science and Technology, and buyout merger agreement with CommQuest Technologies, Inc., a Commerce, Science and Transportation, been quoted by Ronald privately held company based in Encinitas, California, which designs Reagan more than any other living author, written speeches for Ri- and markets advanced semiconductors for wireless and digital com- chard Nixon and Nelson Rockefeller, studied under Henry munications applications such as cellular phones and satellite com- Kissinger at Harvard and been interviewed in Playboy. One of his munications. Once the merger is completed, CommQuest will be- books, "The Spirit of Enterprise", is credited with sparking the entre- come part of IBM's Microelectronics Division, speeding development preneurial growth of technology investment and of Silicon Valley. His book "Microcosm" \s a history of that growth and his next book, of a new generation of multifunction, low-cost, mobile "information "Telecosm" is the eagerly awaited look into the future of the appliances," such as single chip, watch-size cellular phones and prod- communication's industry. On May 27,1998, George Gilder will be ucts that combine cell phone, e-mail and Internet access functions giving San Diego a peek into that future, as the luncheon speaker at in a single, hand-held package.
    [Show full text]
  • REPORT the Barron's Bears
    GILDER February 2006 / Vol. XI No. 2 T E C H N O L O G Y R E P O R T The Barron’s Bears ur Celestial Empire possesses all things in abundance “ and lacks no products within its border. There is there- O fore no need to import the manufactures of outside barbarians.” —Emperor Qian Long, 1793, to King George III’s Ambassador (quoted in Fast Boat to China by Andrew Ross). It’s mid-winter, snowing again outside my window. After some 60 days of cross country skiing so far in Western Massachusetts, two schusses to Silicon Valley, and my son Richard a newly instrument rated pilot, I feel pretty good. With Dick Sears’ Gilder Technology Index (www.GTIndex.com) up some 325 percent since the crash and 27 percent in the last Power-One is the 52 weeks, I feel pretty fl ush. But as I prepare for another day of Nordic sweltering up and swooping down, something nags in the back of my mind. leader in digital What could it be? Flaws in the Linley Group’s projection of EZchip’s (LNOP) coming three year revenue ramp? A slow IPTV (Internet protocol television) transition dragging power solutions, (CONTINUED ON PAGE 2) with some 50 FEATURED COMPANY: NetLogic (NETL) design wins for Whoa! It seems the only thing fl ying faster than NetLogic’s processor speeds these days is the company’s stock price, up by a whopping third so far in the fi rst month or so of the year. But after listening to CEO Ron Jankov, it’s hard to be anything but buoyant.
    [Show full text]
  • Bridgewater Review
    Bridgewater Review Volume 1 | Issue 2 Article 7 Dec-1982 Book Reviews Hugo D'Alarcao Bridgewater State College Charles F. Angell Bridgewater State College, [email protected] Nancy L. Street Bridgewater State College, [email protected] Recommended Citation D'Alarcao, Hugo; Angell, Charles F.; and Street, Nancy L. (1982). Book Reviews. Bridgewater Review, 1(2), 15-18. Available at: http://vc.bridgew.edu/br_rev/vol1/iss2/7 This item is available as part of Virtual Commons, the open-access institutional repository of Bridgewater State University, Bridgewater, Massachusetts. BOOK REVIEWS It is in this first part that Schell introduces "fundamental origin of the peril of human the major theme of the book: the threat of extinction by nuclear arms lies not in any The Fate of extinction of the human species. The point particular social or political circumstances is made that - of our time but in the attainment by mankind The Earth as a whole, after millenia of scientific - although scientifically speaking, progress, of a certain level of knowledge of there is all the difference in the world the physical universe," he comes close to between the mere possibility that a By Jonathan Schell paralleling the theological concept of holocaust will bring about extinction original sin, and precludes the possibility Alfred A. Knopf, N. Y., $11.95 and the certainty of it, morally they that political or social changes can eradicate are the same, and we have no choice the nuclear peril. With such simplistic but to address the issue of nuclear arguments he nears joining the bandwagon weapons as thqugh we knew for a of the antiscience.
    [Show full text]
  • Conservative Movement
    Conservative Movement How did the conservative movement, routed in Barry Goldwater's catastrophic defeat to Lyndon Johnson in the 1964 presidential campaign, return to elect its champion Ronald Reagan just 16 years later? What at first looks like the political comeback of the century becomes, on closer examination, the product of a particular political moment that united an unstable coalition. In the liberal press, conservatives are often portrayed as a monolithic Right Wing. Close up, conservatives are as varied as their counterparts on the Left. Indeed, the circumstances of the late 1980s -- the demise of the Soviet Union, Reagan's legacy, the George H. W. Bush administration -- frayed the coalition of traditional conservatives, libertarian advocates of laissez-faire economics, and Cold War anti- communists first knitted together in the 1950s by William F. Buckley Jr. and the staff of the National Review. The Reagan coalition added to the conservative mix two rather incongruous groups: the religious right, primarily provincial white Protestant fundamentalists and evangelicals from the Sunbelt (defecting from the Democrats since the George Wallace's 1968 presidential campaign); and the neoconservatives, centered in New York and led predominantly by cosmopolitan, secular Jewish intellectuals. Goldwater's campaign in 1964 brought conservatives together for their first national electoral effort since Taft lost the Republican nomination to Eisenhower in 1952. Conservatives shared a distaste for Eisenhower's "modern Republicanism" that largely accepted the welfare state developed by Roosevelt's New Deal and Truman's Fair Deal. Undeterred by Goldwater's defeat, conservative activists regrouped and began developing institutions for the long haul.
    [Show full text]
  • Ren Zhengfei's Interview with CNBC 92
    2019.06 VOLUME Ⅳ VOLUME Ⅳ Reaching the remotest village In 2011, Huawei implemented a turnkey project in Cambodia to deploy sites for many of the country's remote villages, some of which were scattered across forests and isolated from the outside world. To get to these sites, Huawei's engineers rode motorcycles and ox carts, and sometimes even walked long distances. We were able to bring the most advanced telecommunications technologies to the villagers, better enabling them to access the outside world. Covering the Artic Circle and the world's northernmost base station In May 2011, we deployed wireless broadband in the Svalbard Islands for a Norwegian customer. This was the first-ever LTE network in the area. The islands lie close to the Artic Circle, and temperatures there can reach as low as –50°C. The terrain is also very complicated. To transport equipment, we used all kinds of tools, including snowmobiles, forklifts, helicopters, and small airplanes. We also had to carry a loaded gun at all times to prevent attacks from polar bears. Heroes are forged, not born. During World War II, the famous IL-2 kept flying even after being riddled by anti-aircraft shells and machine-gun fire from other planes. Although badly damaged, it finally made its way back home. Contents June 2019 01. A Coffee with Ren 01 02. Ren Zhengfei's Interview with Le Point 52 03. Ren Zhengfei's Interview with CNBC 92 04. Ren Zhengfei's Interview with the Financial Times 123 05. Ren Zhengfei's Interview with The Globe and Mail 159 A Coffee with Ren A Coffee with Ren June 17, 2019 Shenzhen, China 01 A Coffee with Ren Tian: Absorb the energy of the universe over a cup of coffee.
    [Show full text]
  • The Essential Rothbard
    THE ESSENTIAL ROTHBARD THE ESSENTIAL ROTHBARD DAVID GORDON Ludwig von Mises Institute AUBURN, ALABAMA Copyright © 2007 Ludwig von Mises Institute All rights reserved. No part of this book may be reproduced in any man- ner whatsoever without written permission except in the case of reprints in the context of reviews. For information write the Ludwig von Mises Institute, 518 West Magnolia Avenue, Auburn, Alabama 36832 U.S.A.; www.mises.org. ISBN: 10 digit: 1-933550-10-4 ISBN: 13 digit: 978-1-933550-10-7 CONTENTS Introduction . 7 The Early Years—Becoming a Libertarian . 9 Man, Economy, and State: Rothbard’s Treatise on Economic Theory . 14 Power and Market: The Final Part of Rothbard’s Treatise . 22 More Advances in Economic Theory: The Logic of Action . 26 Rothbard on Money: The Vindication of Gold . 36 Austrian Economic History . 41 A Rothbardian View of American History . 55 The Unknown Rothbard: Unpublished Papers . 63 Rothbard’s System of Ethics . 87 Politics in Theory and Practice . 94 Rothbard on Current Economic Issues . 109 Rothbard’s Last Scholarly Triumph . 113 Followers and Influence . 122 Bibliography . 125 Index . 179 5 INTRODUCTION urray N. Rothbard, a scholar of extraordinary range, made major contributions to economics, history, politi- Mcal philosophy, and legal theory. He developed and extended the Austrian economics of Ludwig von Mises, in whose seminar he was a main participant for many years. He established himself as the principal Austrian theorist in the latter half of the twentieth century and applied Austrian analysis to topics such as the Great Depression of 1929 and the history of American bank- ing.
    [Show full text]
  • The Long Tail / Chris Anderson
    THE LONG TAIL Why the Future of Business Is Selling Less of More Enter CHRIS ANDERSON To Anne CONTENTS Acknowledgments v Introduction 1 1. The Long Tail 15 2. The Rise and Fall of the Hit 27 3. A Short History of the Long Tail 41 4. The Three Forces of the Long Tail 52 5. The New Producers 58 6. The New Markets 85 7. The New Tastemakers 98 8. Long Tail Economics 125 9. The Short Head 147 iv | CONTENTS 10. The Paradise of Choice 168 11. Niche Culture 177 12. The Infinite Screen 192 13. Beyond Entertainment 201 14. Long Tail Rules 217 15. The Long Tail of Marketing 225 Coda: Tomorrow’s Tail 247 Epilogue 249 Notes on Sources and Further Reading 255 Index 259 About the Author Praise Credits Cover Copyright ACKNOWLEDGMENTS This book has benefited from the help and collaboration of literally thousands of people, thanks to the relatively open process of having it start as a widely read article and continue in public as a blog of work in progress. The result is that there are many people to thank, both here and in the chapter notes at the end of the book. First, the person other than me who worked the hardest, my wife, Anne. No project like this could be done without a strong partner. Anne was all that and more. Her constant support and understanding made this possible, and the price was significant, from all the Sundays taking care of the kids while I worked at Starbucks to the lost evenings, absent vacations, nights out not taken, and other costs of an all-consuming project.
    [Show full text]
  • Evolution and Intelligent Design in Biology Curricula: Secular Science in a Multicultural Public Education System
    Western Washington University Western CEDAR WWU Honors Program Senior Projects WWU Graduate and Undergraduate Scholarship Spring 2006 Evolution and Intelligent Design in Biology Curricula: Secular Science in a Multicultural Public Education System Morgan Leona Hopson Western Washington University Follow this and additional works at: https://cedar.wwu.edu/wwu_honors Part of the Education Commons, and the Political Science Commons Recommended Citation Hopson, Morgan Leona, "Evolution and Intelligent Design in Biology Curricula: Secular Science in a Multicultural Public Education System" (2006). WWU Honors Program Senior Projects. 221. https://cedar.wwu.edu/wwu_honors/221 This Project is brought to you for free and open access by the WWU Graduate and Undergraduate Scholarship at Western CEDAR. It has been accepted for inclusion in WWU Honors Program Senior Projects by an authorized administrator of Western CEDAR. For more information, please contact [email protected]. Evolution and Public Education Evolution and Intelligent Design in Biology Curricula: Secular Science in a Multicultural Public Education System Morgan Leona Hopson 2005-2006 Political Science Department University Honors Program Western Washington University B WESTERN WASHINGTON UNIVERSITY An equal opportunity university Honors Program HONORS THESIS In presenting this Honors paper in partial requirements for a bachelor’s degree at Western Washington University, I agree that the Library shall make its copies freely available for inspection. I further agree that extensive
    [Show full text]
  • A Guide to Republican Insurgency
    RIPON JULY, 1971 VOL. VII, No. 7 ONE DOLLAR A Guide to Republican Insurgency • Nixon's Swing Districts George F. Gilder r The Dumping of the President 1912-68 Howard L Reiter • New Hampshire Primary Preview John C Topping r·~~~l''''''''''''''''''''''''''''''''''~~~''''''·''''''''''''''''''''-'''''''''''''·'''''''''''''''''''''''''''~''''''''''''''''''''''''''''·''''''''''''''''''''''''~~~''''''''~·~~~·''''''''~''''''''''-'''''''''''''''~'''''''''''''l ~ PLUS: ~ t l t ~ On the R&D Gap Dr. Jeremy Stone ~ ~ OIC Success Story Senator J Caleb Boggs ~ ~ Fun City Blues Glenn S. Gerstell ~ L~ .. ~......... ~~~ ........... ~.-.. ........ ~.......................... ~........................... ~ ......... ~.~ ......... ~~~ ___ ............... ~.................. _....... ......... ~.................................... ....-.i SUMMARY OF CONTENTS THE RIPON SOCIETY INC. Is a Republican research and , policy organization whose members are young lousiness, academic and professional men and women. It has national headquarters In Cambridge, MassaClhusetts, chapters in thirteen cities, National Associate members throughout EDITORIAL the fifty states, and several affiliated groups of subchapter status. The Society is supported by chapter dues, individual contribu­ tions and revenues fr&m its publications and contract work. The "Thf' Lightweight Brigade" - a look at the Dem­ Society off",rs the following- options for annual ccmtributlon: Con­ ocrats. tributor $25 or more; Sustaine! $109 or more; Founcler $1009 or mere. Inquiries about membershilO and chapter
    [Show full text]
  • Human Action and Economics in the Liberal Thought of Ludwig Von
    Human Action and Economics in the Liberal Thought of Ludwig Von Mises By Bruce J. Clemenger thesis submitted in partial fulfillment of the requirements for the degree Master of Philosophical Foundations Institute for Christian Studies Toronto, Ontario Contents Introduction .... 1 Chapter One The Contemporary Relevance of Ludwig Von Mises and the Austrian Tradition .... 4 Chapter Two The Historical and Intellectual Setting of the Austrian Tradition and Ludwig Von Mises ....19 Chapter Three Praxeology: The Science of Human Action .... 41 Chapter Four Economics: Its Scope, Focus, and Approach .... 63 Chapter Five Society and Social Cooperation ....86 Chapter Six The Political and Religious Implications of Praxeology and Economics ... .98 Chapter Seven Assessment .109 Conclusion .122 Bibliography .125 Introduction In 1960, Daniel Bell published a book entitled The End of Ideology in the West. In it Bell said that the old ideologies were exhausted. Not only had the ideologies "lost their truth and power to persudae...", but as few continued to seek to construct new socially harmonious utopias or still cling to 'classical' liberal ideas, the need for ideologies had diminished. Bell wrote: In the Western World, therefore, there is today a rough consensus among intel­ lectuals on political issues: the ac­ ceptance of a Welfare State; the desira­ bility of decentralized power; a system of mixed economy and of political plur­ alism. In that sense too, the ideolo- 2 gical age had ended. At the time Bell wrote these words, economic growth seemed to indicate economists had found the correct ideology. With confidence, W.W. Rostow wrote a book entitled The Stages of Economic Growth to explain to the underdeveloped 3 nations how they too could attain the same success.
    [Show full text]
  • THE MORAL SOURCES of CAPITALISM by George Gilder George Gilder Is Program Director of the Interna­ Tional Center for Economic Policy Studies in New York City
    THE MORAL SOURCES OF CAPITALISM By George Gilder George Gilder is Program Director of the Interna­ tional Center for Economic Policy Studies in New York City . A graduate of Harvard University, he has pub­ lished five books, including Naked Nomads, Visible Man, and Wealth and Poverty. !!'8I----He has also published numerous articles and reviews on political, economic and social subjects, in such journals as Harper's, The New York Times Magazine, The New York Times, Reader's Digest, Commentary, National Review, The Wall Street Journal, The Boston Globe, The Boston Globe Magazine, Washington Monthly, Washington Star, Chicago Tribune, Book World, Book Digest, among others. He has been a speech writer for both U.S. Presiden­ tial and Vice Presidential campaigns, and was responsi­ ble for part of Ronald Reagan's acceptance speech at the Republican National Convention. Mr. Gilder delivered this presentation recently at Hillsdale as part of the Ludwig von Mises Lecture Series. What is most extraordinary about this economist's "Businessmen are bastards": This crude view of view is not its extremity, vehemence, or apparent men of commerce, once famously pronounced by Presi­ incongruity, but the fact that it was a perfectly ordinary dent John F. Kennedy, sums up the sentiments of statement for such a man to make. It sums up what has socialist thinkers in America and around the world, been the prevailing attitude of the leading defenders of from Jane Fonda to the remaining followers of the late free enterprise ever since the time of Adam Smith. Chairman Mao. In fact, the idea that businessmen are Although Smith himself di not use such bawd lan­ ba tards is such a cliche' among the progressive-arrd guage, he insisteo Zthat businessmen were in general an enlightened men of the left that most of them would be unattractive lot who "seldom gather together except to hurt and startled if a businessman responded by calling conspire against the public interest." According to them the bigots that they objectively are.
    [Show full text]
  • The 21St Century Case for Gold: a New Information Theory of Money
    American Principles Project THE 21ST CENTURY CASE FOR GOLD: A NEW INFORMATION THEORY OF MONEY by: George Gilder American Principles Project 1 American Principles Project American Principles Project THE 21ST CENTURY CASE FOR GOLD: A NEW INFORMATION THEORY OF MONEY by: George Gilder 3 American Principles Project American Principles Project American Principles Project American Principles Project American Principles Project American Principles Project FOREWORD: WHY A NEW CASE FOR GOLD? MONEY, GOLD, AND TIME Time is the coin of your life. It is the only coin you have, and only you can determine how it will be spent. Be careful lest you let other people spend it for you. —Carl Sandburg re the scarcity and value of money rooted in the passage of Atime—the residual resource that remains scarce—as goods and services become more abundant? Is money a measuring stick that gauges the value of economic activity? Or is it a magic wand wielded by central banks to summon new economic growth? Is money chiefy a source of information? Or is it an embodiment of wealth that can be created out of thin air and distributed to the fnancial institutions closest to government? In the midst of a siege of capitalist stagnation and demoralization, 7 American Principles Project American Principles Project this monograph addresses the crucial questions of money and wealth. Many leading economists assert that entrepreneurial creativity and new technology are climbing a wall of diminishing returns. Te long saga of capitalist triumph is said to be giving way to an era of creative sclerosis. For too many of the best and the brightest, conservatives as well as liberals, the debate over monetary reform and, in particular, a gold standard, is ancient history.
    [Show full text]