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Henry Hazlitt: a Man for Many Seasons CONTENTS Bettina Bien Greaves NOVEMBER a Tribute in Honor of Author and Economist Henryhazlitt's 95Th Birthday

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Henry Hazlitt: a Man for Many Seasons CONTENTS Bettina Bien Greaves NOVEMBER a Tribute in Honor of Author and Economist Henryhazlitt's 95Th Birthday IDEAS ON LIBERTY 420 Henry Hazlitt: A Man for Many Seasons CONTENTS Bettina Bien Greaves NOVEMBER A tribute in honor of author and economist HenryHazlitt's 95th birthday. 1989 VOL. 39 429 No Vote for the Candidate NO.11 Tibor R. Machan Wouldn't it be refreshing to have a candidate who is really concerned about this country's solvency and credibility? 431 The Unspoken Dialogue ofthe Market Matthew B. Kibbe Each of us is continuously engaged in an unspoken dialogue with others simply by acting and choosing. 434 Free Speech: An Endangered Species in India Rayasam ~ Prasad Can a country achieve prosperity without a free press? 436 Who Is Destroying the World's Forests? Gregory R Rehmke The answer may be surprising. 440 "Lime": E. B. White and Self-Reliance Cecil Kuhne The entangling web of government benevolence. 441 The Population Bomb ••• Defused R. Cort Kirkwood Population growth statistics really tell observers only one thing: there are more people today than there were yesterday. 446 Private Property from Soweto to Shanghai David Boaz A trip around the world yields some valuable lessons. 449 The Market for Low Cholesterol Michael Walker The market wages war against dietary fat. 450 Making Dough in the Heartland Ann Weiss Rogers A rural entrepreneur stumbles against government regulations. 453 Book Reviews John Chamberlain reviews Gerald Gunderson's The Wealth Creators.' An En­ trepreneurial History of the United States. Other books: Lexicon of Economic Thought by Walter E. Block and Michael A. Walker and If Everybody Bought One Shoe.' American Capitalism in Communist China by Graeme Browning. THE IDEAS ON LIBERTY PERSPECTIVE Published by The Foundation for Economic Education Is Aid Helping Prolong the Irvington-on-Hudson, NY 10533 Sudanese War? President of The government of the Democratic Republic The Board: Bruce M. Evans Vice-President: Robert G. Anderson of Sudan has become increasingly dissatisfied Senior Editors: Beth A. Hoffman with the United States and other Western gov­ Brian Summers ernments for failing to provide sufficient aid. This Contributing Editors: Bettina Bien Greaves Edmund A. Opitz was never more evident than following last year's Paul L. Poirot flooding in northern Sudan, when Information Copy Editor: Deane M. Brasfield Minister Abdallah Mohamed Ahmed called the U.S. "miserly" and said, "[their response] has let The Freeman is the monthly publication of The us know who our true friends are." (The Daily Foundation for Economic Education, Inc., Nation [Nairobi, Kenya], August 26, 1988) Irvington-on-Hudson, NY 10533 (914) 591­ 7230. FEE, founded in 1946 by Leonard E. Gone are the days when gifts, regardless of Read, is a nonpolitical educational champion of size, were gratefully received. Foreign aid has private property, the free market, and limited come to be expected as a right, and provides a government. FEE is classified as a 26 USC 501 (c) (3) tax-exempt organization. Other officers large chunk of many Third World nations' bud­ of FEE's Board of Trustees are: Thomas C. gets. Many Third World governments limp from Stevens, chairman; Ridgway K. Foley, Jr., vice­ crisis to crisis, ever promising but rarely deliver­ chairman; Paul L. Poirot, secretary; H.E Lan­ genberg, treasurer. ing true reform. And with the supply taps end­ lessly open, there is little incentive for reform. The costs of Foundation projects and services In fact, why end the current civil war? Time are met through donations. Donations are invited in any amount. Subscriptions to The was when starving people and endless destruction Freeman are available to any interested person made it impossible to continue a war. But now in the United States for the asking. Additional war simply brings in more foreign aid. So where single copies $1.00; 10 or more, 50 cents each. For foreign delivery, a donation of $15.00 a year is the incentive to stop it? is required to cover direct mailing costs. -J. KEITH BATEMAN Juba, Sudan Copyright © 1989 by the Foundation for Eco­ nomic Education, Inc. Printed in the U.S.A. Permission is granted to reprint any article in this issue, except "No Vote for the Candidate," provided appropriate credit is given and two Knowledge ofthe Law copies of the reprinted material are sent to The Foundation. Is No Excuse Bound volumes of The Freeman are available The Dallas Morning News says HUD over­ from The Foundation for calendar years 1969 charges have cost the taxpayers $1 billion in the to date. Earlier volumes as well as current is­ last five years. sues are available on microfilm from University Microfilms, 300 North Zeeb Road, Ann Arbor, My goodness, a billion dollars. That must be a MI48106. lot of money. But you couldn't prove it by me. It's so far beyond my comprehension that ... The Freeman considers unsolicited editorial submissions, but they must be accompanied by well, like a giant star that's a billion miles away, to a stamped, self-addressed envelope. Our au­ me it's next to nothing. thor's guide is available on request. But let me tell you what I can understand: FAX: (914) 591-8910 $165. A friend of mine, who is kind of weird, was Cover illustration of telling me about it. (I say he's weird, but in a nice Henry Hazlitt. © Deborah Melvin Beisner, way. He's a doctor who still makes house calls.) 1989 What it is, he has a lawyer acquaintance who all the time is trying to make him understand he PERSPECTIVE should be making more money. I do know this much: that half of $330 is $165. "He was telling me what a terrible business­ Just for the fun of fiddling with figures, let's say man 1 am," the doctor said, chuckling. "But 1 there are 10 such bad deals in this county, guess he thought if I was smart enough to know amounting to $1,650 a month in HUD money or what a doctor knows, maybe I was smart enough $19,800 a year. to learn what a lawyer knows. Multiply that figure times the 256 counties in "Real estate-that's the ticket, he said. I need­ Texas. All of a sudden you've topped $5 million. ed to diversify, invest, to widen my holdings. Take it one more step, $5 million times 50 "Well, what do 1 know about real estate? Real states, and by golly we're at the quarter of a bil­ estate has nothing to do with medicine. lion dollar mark. "For that matter, I asked him, what does a In just four years-not five-you have found a lawyer know about real estate? Real estate has billion dollars in bad deals. nothing to do with law. But like the fellows say, here in Lufkin and "He didn't answer me directly. Instead he start­ there in Washington, it was all perfectly legal. ed telling me about a piece of property he owned, Far be it from me to suggest otherwise. About a house that he rents out. It so happened I knew the only legal precept I know is that ignorance of which house it was, though I hadn't known he the law is no excuse. owned it. Too bad it doesn't work the other way as well: "I said, 'You mean that old falling down house that knowledge of the law is no excuse. with the rusty tin roof?' - JOE MURRAY, "He said, 'Don't make fun of it. That old house writing in the July 3, 1989, issue of The Lufkin puts rent money inmy pocket every month.' Daily News, Lufkin, Texas, a member of Cox "I laughed and said, 'How much money can a Newspapers, Inc place like that rent for?' "Now it was his turn to laugh. 'Would you be­ FEE Salutes lieve $330 a month,' he said. Henry Hazlitt "I said, 'Good night! What idiot would pay $330 for a dump?' November 28,1989, marks the 95th birthday of "He said, 'No idiot would. But HUD pays half Henry Hazlitt, noted author and economist. Mr. of it.' Hazlitt has served FEE as a Trustee since its be­ "I said, 'Are you telling me that you're not ginning in 1946 and was recently voted the desig­ only making money off poor people, but the tax­ nation "Founding Trustee" by his fellow mem­ payers as well? And you're telling me that's what bers of the Board. 1ought to do?' For a glimpse at Mr. Hazlitt's illustrious career, "He sort of took offense at that. He said, see Bettina Bien Greaves' article, "Henry Hazlitt: 'Well, it's all perfectly legal.' A Man for Many Seasons," starting on page 420. "I guess he had me there. I'm no lawyer. But 1 This fall FEE published Henry Hazlitt: An do know this much, that there can be a big differ­ Appreciation, a collection of essays by and about ence between legality and morality, and 1 told Mr. Hazlitt. The booklet also contains Mrs. him so." Greaves' annotated bibliography of Mr. Hazlitt's Personally, I haven't seen the property and books. have no way of knowing if my doctor friend is Henry Hazlitt: An Appreciation is available correct, that it's a bad deal for everybody in­ from FEE free of charge with the purchase of volved, poor people and taxpayers alike. Economics in One Lesson (paperback $7.95). 420 THEFREEMAN IDEAS ON LIBERTY Henry Hazlitt: A Man for Many Seasons by Bettina Bien Greaves Editors' Note: November 28 marks the 95th birthday ofthe noted author and economist Henry Hazlitt, who has served with great distinction as a Trustee of The Foundation for Economic Education since FEE was founded in 1946, and whose personal papers and library are now housed at FEE.
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