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Liberty Fund, Inc. is a private, educational foundation established to encourage the study of the ideal of a society of free and responsible individuals.

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The copyright to this publication is held by Liberty Fund, Inc. The New Individualist Review is prohibited for use in any publication, journal, or periodical without written consent of J. M. Cobb, J. M. S. Powell, or David Levy.

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This material is put online to further the educational goals of Liberty Fund, Inc. Unless otherwise stated in the Copyright Information section above, this material may be used freely for educational and academic purposes. It may not be used in any way for profit.

NEW BOOKS AND ARTICLES

THE FOLLOWING IS A SELECT LIST OF BOOKS AND ARTICLES WHICH, IN THE OPINION OF THE EDITORS, MAY BE OF INTEREST TO OUR READERS.

Martin Bailey, National Income and the Price Level. (New York: McGraw-Hill, 1962).
Paul Bakewell, Jr., 13 Curious Errors About Money. (Caldwell, Idaho: Caxton Press, 1962).
George C. S. Benson, et al., Essays on Federalism. (Claremont, California: Claremont College, 1962).
H. N. Brailsford, The Levellers and the English Revolution. (Stanford, California: Stanford University Press, 1962).
Jeremy Bentham, Handbook of Political Fallacies. (New York: Harper Torchbooks, 1962). Paper.
Paul V. Birdsall, Versailles 20 Years After. (Hamden, Connecticut: Shoestring Press, 1962).
Frank Chodorov, Out of Step. (New York: Devin-Adair, 1962).
Smith Hempstone, Rebels, Mercenaries and Dividends: the Katanga Story. (New York: Praeger, 1962).
Gertrude Himmelfarb, Lord Acton. (Chicago: University of Chicago Press, 1962). Paper.
William R. Kintner and Joseph Z. Kornfeder, The New Frontier of War. (Chicago: Henry Regnery, 1962).
John McCormick and Mairi MacInnes, Versions of Censorship. (Chicago: Aldine Press, 1962).
Francis J. Nock, ed., Selected Letters of Albert Jay Nock. (Caldwell, Idaho: Caxton Press, 1962).
G. Warren Nutter, The Growth of Industrial Production in the Soviet Union. (Princeton: Princeton University Press, 1962).
Claude Robinson, Understanding Profits. (Princeton: Van Nostrand, 1962).
Christian Rochefort, Children of Heaven. (New York: McKay, 1962).
George Rude, Wilkes and Liberty. (Oxford: Oxford University Press, 1962).
Francis Russell, Tragedy in Dedham. (New York: McGraw-Hill, 1962).
M. K. Singleton, H. L. Mencken and the American Mercury Adventure. (Durham, North Carolina: Duke University Press, 1962).
Lewis L. Strauss, Men and Decisions. (New York: Doubleday, 1962).
Philippa Schuyler, Who Killed the Congo? (New York: Devin-Adair, 1962).
Edward Bennett Williams, One Man’s Freedom. (New York: Atheneum, 1962).
Dover Woodcock, Anarchism. (New York: Meridian, 1962). Paper.
W. F. Rickenbacker, “A Proposal for the Airlines,” National Review, July 17, 1962.
George V. Taylor, “The Paris Bourse on the Eve of the Revolution, 1781-1789,” American Historical Review, July, 1962.
Richard Weaver, “A Great Individualist,” (Review of The Letters of H. L. Mencken), Modern Age, Spring, 1962.
Richard S. Wheeler, “Deliver Us from Evil,” Insight & Outlook, Summer, 1962.

New Individualist Review welcomes contributions for publication from its readers. Essays should not exceed 3,000 words, and should be type-written. All manuscripts will receive careful consideration.

In Future Issues . . .

NEW INDIVIDUALIST REVIEW will feature articles by young libertarian and conservative writers as well as by such scholars as WILHELM ROEPKE, RICHARD WEAVER, and MURRAY N. ROTHBARD.

To keep up with today’s ferment of individualist ideas—subscribe to NEW INDIVIDUALIST REVIEW today.

* * * *

NEW INDIVIDUALIST REVIEW has come a long way since we made the above promise to readers of our first issue, over a year ago. Our circulation has grown steadily with each succeeding issue. Students at campuses across the country have volunteered their time to make NIR available to their colleagues. We have readers in nearly every state and more than a dozen foreign countries. Our original staff of five editors has more than doubled; most of the new members are undergraduates who will ensure that NIR continues after the founders have left school. We are well on the road to permanence.

Perhaps as important, NIR has brought libertarian and conservative ideas to a wider readership than its circulation. Articles have been reprinted in the “Wall Street Journal,” the “Freeman,” “Under Thirty,” and other newspapers and magazines. We have been praised by other publications and individuals—the “Chicago Tribune,” the “Portland Oregonian,” “America,” “National Review,” the “New Republic,” William F. Buckley, Jr., Russell Kirk, and Leonard Read, among them.

Articles have been translated into Spanish and published in Mexico and Venezuela. Professors at several colleges have requested permission to use articles for reading assignments in their courses.

In our first issue, we also said: “The NEW INDIVIDUALIST REVIEW has been founded in a commitment to human liberty. We believe in free, private enterprise, and in the imposition of the strictest limits to the power of government.” If you share that belief, we invite you to subscribe to NIR, in order “to keep up with today’s ferment of individualist ideas,” and to help those ideas reach still more people. If you do not share it, we think you will find NIR stimulating and challenging, and perhaps persuasive.

“SOCIALISM is only an idea, not an historical necessity, and ideas are acquired by the human mind. We are not born with ideas, we learn them. If socialism has come to America because it was implanted in the minds of past generations, there is no reason for assuming that the contrary idea cannot be taught to a new generation. What the socialists have done can be undone, if there is a will for it. But, the undoing will not be accomplished by trying to destroy established socialistic institutions. It can be accomplished only by attacking minds, and not the minds of those already hardened by socialistic fixations. Individualism can be revived by implanting the idea in the minds of the coming generations. So then, if those who put a value on the dignity of the individual are up to the task, they have a most challenging opportunity in education before them. It is not an easy job. It requires the kind of industry, intelligence and patience that comes with devotion to an ideal.”

—Frank Chodorov, Founder and President, Intercollegiate Society of Individualists, Inc.

VOLUME 2, NUMBER 3, AUTUMN 1962

THE INTELLECTUAL AND THE MARKET PLACE

GEORGE J. STIGLER

OBSERVATIONS ON THE SOVIET “LOST GENERATION”

ROBERT M. HURT

CIVIL LIBERTIES IN THE WELFARE STATE

ROBERT SCHUCHMAN

A NEW TREATISE ON ECONOMICS

LUDWIG VON MISES

Vol. 2, No. 3

35 cents

Autumn 1962

The Intellectual and the Market Place
	3	GEORGE J. STIGLER
Observations on the Soviet “Lost Generation”
	10	ROBERT M. HURT
Economic Growth vs. “Growth” Economics
	18	JOHN VAN SICKLE
Civil Liberties in the Welfare State
	24	ROBERT SCHUCHMAN
New Conservatives and Old Liberals
	31	BENJAMIN A. ROGGE
The Great Fascist Sedition Trial
	35	A SATIRE
BOOK REVIEWS
Rothbard’s “Man, Economy, and State”
	39	LUDWIG VON MISES
Meyer’s “In Defense of Freedom”
	43	JOHN WEICHER
New Books and Articles
	46

NEW INDIVIDUALIST REVIEW is published quarterly (Spring, Summer, Autumn, Winter) by New Individualist Review, Inc., at Ida Noyes Hall, University of Chicago, Chicago 37, Illinois.

Opinions expressed in signed articles do not necessarily represent the views of the editors. Editorial, advertising, and subscription correspondence and manuscripts should be sent to NEW INDIVIDUALIST REVIEW, Ida Noyes Hall, University of Chicago, Chicago 37, Illinois. All manuscripts become the property of NEW INDIVIDUALIST REVIEW.

Subscription rates: $2.00 per year (students $1.00).

Copyright 1962 by New Individualist Review, Inc., Chicago, Illinois. All rights reserved. Republication of less than 200 words may be made without specific permission of the publisher, provided New Individualist Review is duly credited and two copies of the publication in which such material appears are forwarded to New Individualist Review.

EDITORIAL BOARD

Editors-in-Chief • Ronald Hamowy • Ralph Raico

Associate Editors • Robert M. Hurt • John P. McCarthy

Robert Schuettinger • John Weicher

Business Manager • Sam Peltzman

Editorial Assistants • Jameson Campaigne, Jr. • Joe Cobb

Burton Gray • Thomas Heagy • Jerome Heater

R. P. Johnson • Robert Michales • James Powell

James Rosenholtz

EDITORIAL ADVISORS

Milton Friedman • Richard Weavar

University of Chicago

F. A. Hayek

University of Freiburg

COLLEGE AND UNIVERSITY REPRESENTATIVES

UNIVERSITY OF ALABAMA
Dianne Hastings

ANTIOCH COLLEGE
Frank Resnik

UNIVERSITY OF ARIZONA
Stephen Sala

BROOKLYN COLLEGE
Howard Seigel

BUTLER UNIVERSITY
Dean McEldowney

UNIVERSITY OF CALIFORNIA (Riverside)
Jerry Lee Martin

CARLETON COLLEGE
W. W. Hand

CLAREMONT MEN’S COLLEGE
Robert Williams

COLUMBIA UNIVERSITY
John McCarthy

CENTRE COLLEGE OF KENTUCKY
Robert B. Fisher

UNIVERSITY OF DETROIT
George McDonnell

EARLHAM COLLEGE
William Dennis

FORDHAM UNIVERSITY
Thomas J. Baker

GROVE CITY COLLEGE
A. Bruce Gillander

HARVARD UNIVERSITY
David Friedman

HUNTER COLLEGE
Eve Kirschner

UNIVERSITY OF IDAHO
Robert D. Brown

UNIVERSITY OF ILLINOIS
Bill Jacklin

UNIVERSITY OF INDIANA
Karl K. Pringle

STATE UNIVERSITY OF IOWA
Sarah Slavin

UNIVERSITY OF KANSAS
Larry F. Glaser

UNIVERSITY OF KENTUCKY
James G. Otto

KNOX COLLEGE
Kip Pencheff

LOYOLA UNIVERSITY (Chicago)
William Ford

MANHATTAN COLLEGE
Stephen J. Kerins

NORTHWESTERN UNIVERSITY
S. Kent Steffke

OCCIDENTAL COLLEGE
Goetz Wolff

OREGON STATE UNIVERSITY
John Charles Neeley

PRINCETON UNIVERSITY
David Duval

PROVIDENCE COLLEGE
Raymond Lajeunesse

QUEENS COLLEGE
Robert J. Malito

QUINCY COLLEGE
John Lulves, Jr.

REGIS COLLEGE
Edwin J. Feulner, Jr.

STANFORD UNIVERSITY
Richard Noble

SYRACUSE UNIVERSITY
Irwin H. Rosenthal

TEXAS CHRISTIAN UNIVERSITY
Walter B. Thompson

TUFTS UNIVERSITY
William G. Nowlin, Jr.

UNIVERSITY OF VIRGINIA
Robert Stuart Redfield

WILLIAMS COLLEGE
Kenneth Griffith

UNIVERSITY OF WISCONSIN
Theodore Cormaney

YALE UNIVERSITY
Alan B. Magary

* * *

UNIVERSITY OF FRANKFURT
Werner Krebs

UNIVERSITY OF PARIS
Ronald Hamowy

OXFORD UNIVERSITY
Robert Schuettinger

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