Home

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

Copyright information:

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.

Fair use statement:

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.

Armen A. Alchian and William R. Allen, University Economics. Belmont, Calif., Wadsworth Publishing Co., 1964. $11.35 (text edition $8.50). An excellent new introductory economics text by two well-known UCLA Professors—both of the “Chicago School”—designed to relegate Samuelson’s text to the role of an inferior good.
Martin Anderson, The Federal Bulldozer: A Critical Analysis of Urban Renewal, 1949-1962. Cambridge, Mass., The MIT Press, 1964. $5.95. The first major analysis of the federal urban renewal program since its inception. In the opinion of Edward C. Banfield of Harvard University, “There may be some fine points to quibble about, but The Federal Bulldozer makes rubble of the urban renewal program.”
George J. Stigler, “Public Regulation of the Securities Markets,” The Journal of Business, April 1964. Prof. Stigler presents fundamental criticisms of the recently published Special Study of the Securities Markets on grounds of both methodology and validity of its conclusions, saying “Once we ask for the evidence for its policy proposals, the immense enterprise becomes a promiscuous collection of conventional beliefs and personal prejudices.” The article is mainly devoted to setting forth a few statistical models by which the efficiency of the securities market might be judged both before and after the establishment of SEC regulation. In the October 1964 issue of The Journal of Business two articles appear in reply, and sharply criticize several points which Stigler makes in the earlier article; but they fail on the whole to refute the thrust of his argument. In his rebuttal, also appearing in the October 1964 issue, Prof. Stigler comments: “The issue is precisely that of the use of ‘scientific method’ versus ‘common sense.’ Either we present explicit hypotheses and test them by the developing techniques of the social sciences, or we rely upon the a priori case for protecting investors plus the scandals revealed by a Pecora, or the a priori case for letting men conduct their own affairs plus the counter-scandals revealed by some new counter-Pecora.”
Ronald Hamowy, “Liberalism and Neo-Conservatism: Is a Synthesis Possible,” Modern Age, Fall 1964. A noteworthy attack upon the position that classical liberalism and modern conservatism can be synthesized into a single right-wing philosophy. Hamowy argues that both classical liberalism and modern conservatism arise from distinct and separate traditions of thought, and that their basic premises are fundamentally in conflict.
The fifth volume of the Journal of Law and Economics (dated October 1962) has been issued, and includes articles by George J. Stigler, Ronald Coase, Yale Brozen, and others. Of all American scholarly journals, this annual publication is undoubtedly the one most solidly in the classical liberal tradition. A complete set (five issues) may be obtained for $12.50 (students $5.00) by writing: Prof. Aaron Director, The Journal of Law and Economics, University of Chicago Law School, Chicago, Illinois 60637.
Philip B. Kurland, “The Supreme Court 1963 Term, Foreword,” Harvard Law Review, November 1964. A lengthy evaluation of the decisions handed down by the Supreme Court during 1963 which is generally critical of the path the court is taking. Prof. Kurland notes four movements which have gained strength during the last decade: “the emerging primacy of equality as a guide to constitutional decision . . . the effective subordination, if not destruction, of the federal system . . . the enhancement of judicial dominion at the expense of the power of other branches of government, national as well as state . . . [and] the absence of workmanlike product, the absence of right quality [in the decisions of the court].” In regard to the first of these movements, he notes the more and more frequent tendency of the court to appeal to the equal protection clause rather than to the due process clause of the Fourteenth Amendment. “There are two primary problems that arise under the equal protection clause. The first is the ambiguity inherent in the relevant term, whether it be ‘equality’ or ‘equal protection of the laws.’ The second major difficulty results from the possible conflict of the notion of equality with that of liberty or some other fundamental constitutional value.”
Regenery has published two new books on or by Albert Jay Nock: his autobiography, Memoirs of a Superfluous Man (Chicago, 1964. $5.95), is reprinted from the 1943 edition which is no longer available; and Robert J. Crunden, The Mind and Art of Albert Jay Nock. Chicago, 1964. $4.95. The latter is an excellent intellectual biography, and contains an appendix listing his uncollected articles.
Richard M. Weaver, Visions of Order: The Cultural Crisis of Our Time. Baton Rouge, La., Louisiana State University Press, 1964. $4.50. A posthumous collection of Prof. Weaver’s essays concerned with an elaboration of the uses of order and tradition in society, and a critique of modern-liberalism and sentimental democracy.
Hanson W. Baldwin, “Should We End the Draft?,” New York Times Magazine, Sept. 27, 1964. The military expert of the New York Times summarizes the major arguments for and against ending conscription, while lending the weight of his authority to the opinion that “there is not much doubt that long-term professional services—active and reserve—are better suited to the military requirements of the atomic age than large, semi-trained, rapid-turnover forces drafted or induced to serve by the prospect of the draft.”
Prof. Ernest van den Haag of the New School discusses the question of Negro intelligence in an interesting interview published in National Review (“Intelligence or Prejudice?,” December 1, 1964). His conclusions are essentially: (1) There is no scientific evidence supporting the currently popular theory that no innate intelligence differences exist between ethnic groups; (2) There is some, although not conclusive, evidence that the contrary is true; and (3) that even if (2) were proven to be the case, genetically determined intellectual inferiority of the members of a particular race in no way implies their moral inferiority. See also the criticisms and reply in the Feb. 9, 1965, issue of National Review. On the same theme there is an excellent review of Weyl and Possony’s Geography of Intellect in the University of Chicago Law Review, Spring 1964, by Warren Lehman. Rather than dealing with the shoddy and unscientific approach of the authors, Lehman concentrates on the possible legal implications of their conclusion that interracial intelligence comparisons indicate sharp distinctions exist. Lehman attacks the thesis—interestingly enough shared by many violent anti-racists—that scientific evidence on the intellectual inferiority, superiority, or equality of one race over another is relevant to their legal (and particularly constitutional) status.
The latest (we think) issue of Focus Midwest (Vol. III, Number 6) is devoted to a “roster of the right wing” which runs the gamut from the American Farm Bureau to the Soldiers of the Cross and the American Nazi Party. If one is inured to the incredibly unsophisticated approach manifested by the leftist counterparts of The Christian Crusade, he will find much information of interest and value in this publication.

DeGaulle and Erhard Who are the men behind them?

Europe’s economy is on the move—as witness the stabilization of the franc, the West German “economic miracle,” and General DeGaulle’s recent challenge to the primacy of the dollar in international exchange.

To understand such developments as these, it is necessary to be acquainted with the thought of two leading European economists:

Jacques Rueff and Wilhelm Röpke.

These are the men behind the leaders and the economic resurgence of Western Europe. Their basic ideas are now available to American readers in two new books.

JACQUES RUEFF, financial advisor to the French government and originator of France’s recent currency reform, outlines his theories in THE AGE OF INFLATION, a series of essays on monetary instability and the origins of financial crises. The book includes the full text of Dr. Rueff’s 1958 “Report on the Financial Condition of France.” (Paperbound, $1.45)

WILHELM ROPKE, whose ideas sparked West Germany’s economic recovery, wrote his ECONOMICS OF THE FREE SOCIETY before World War II. This gracefully-written textbook of the “new economics” (a continuing best seller in four European Languages) is now published in a revised and updated American edition. Prime Minister Erhard has characterized Dr. Röpke in these words: “Wilhelm Röpke stands as a great witness to the truth. My own services toward the attainment of a free society are scarcely enough to express my gratitude to him who, to such a high degree, influenced my position and conduct.” (Hardbound, $4.95)

THE AGE OF INFLATION and ECONOMICS OF THE FREE SOCIETY are available at booksellers’, or directly from:

Lyndon Johnson Got 130% of The Votes Needed to Lose!

The great victory of Conservatism at the polls in November must not cause the Forces of Freedom to be lulled into complacency. Even though 26 million right-thinking Americans spoke out against moral decay, we must remember that 40 million misguided people—besotted by pornography and drugged by fluoridated water—confusedly endorsed the status quo!

We must use our strength to press onward! No resting on our laurels! In the next election the triumph will be even greater! We will boost our strength to 40% of the electorate. Conservatism has come, seen, and conquered!

We at NEW INDIVIDUALIST REVIEW stand solidly in the mainstream of this great march, urging onward the flood of victory. The Editors of NIR, however, would remind our compatriots only that

(1) The enemy is stronger than ever, although recent political events may make us unduly optimistic.

(2) To stay alert, we must stay well informed and pure.

(3) NIR doesn’t cost very much.

REMEMBER . . . When roving Communist bands come through your community, they must not find an economically illiterate populace . . . Subscribe to NEW INDIVIDUALIST REVIEW!

ESSAYS IN THE HISTORY OF ECONOMICS
By GEORGE J. STIGLER

Professor Stigler is one of the most distinguished proponents of the Chicago school of economics, a group of economists past and present who have stressed the value of the free, competitive market. This volume is a collection of some of his articles on the history of economic theory. Professor Stigler himself chose the essays which include his reflections on originality in scientific progress; the politics of political economists; the development of utility theory; Ricardian value and distribution; perfect competition; Fabian socialism; marginal productivity theory; and the Giffen paradox.

400 pages $6.95

THE CREATIVE ORGANIZATION
Edited by GARY A. STEINER

These various papers are the result of a recent seminar at the Graduate School of Business of the University of Chicago. Among the participants were Bernard Berelson, Jerome S. Bruner, and Paul Meehl representing social scientists, Ralph W. Tyler and W. Allen Wallis speaking for the educators, and B. E. Besinger, Peter Peterson, and David Ogilvie, for the executives. Conclusions drawn at this seminar point to no easy solution for the establishment of a creative organization. The central problem may well be, in Mr. Steiner’s words, “to learn the difference between creating productivity and producing creativity.”

June, 288 pages $5.00

CAPITALISM AND FREEDOM
By MILTON FRIEDMAN

These provocative and controversial essays discuss the proper role of competitive capitalism in a free society. “. . . this book is a brilliant defense of libertarianism by a cogent, intellectual spokesman.” — EDWIN McDOWELL, Christian Economics. “. . . an eloquent, spirited, and provocative book to show how the ideal of personal freedom may be realized in—and only in—a system of competitive capitalism.” —EDWARD C. BANFIELD, National Review. “. . . anyone with faith in the power of government to improve our lot will find it difficult and hazardous exercise to match wits with Milton Friedman.” —HENRY C. WALLICH, Challenge.

Cloth $3.95

Paper $1.50

THE UNIVERSITY OF CHICAGO PRESS

Chicago and London

VOLUME 4, NUMBER 1, SUMMER 1965

FINANCING HIGHER EDUCATION

BENJAMIN A. ROGGE

TRENDS IN THE U. S. SUPREME COURT

PHILIP B. KURLAND

HOW SOVIET PLANNING WORKS

G. WARREN NUTTER

• • •

LEWY’S “THE CATHOLIC CHURCH AND NAZI GERMANY”

STEPHEN J. TONSOR

A JOURNAL OF CLASSICAL LIBERAL THOUGHT

Summer 1965

50 cents

Vol. 4, No. 1

Financing Higher Education
	3	BENJAMIN A. ROGGE
Trends in the U. S. Supreme Court
	15	PHILIP B. KURLAND
How Soviet Planning Works
	20	G. WARREN NUTTER
Collectivism in Social Theory
	26	EDWIN HARWOOD
Justice, “Needs,” and Charity
	32	ROBERT L. CUNNINGHAM
COMMUNICATION:
The 1964 Election
	39	WILLIAM A. RUSHER
		BENJAMIN A. ROGGE
REVIEWS:
The View from London Bridge
	42	STEPHEN J. TONSOR
Van den Haag’s “Passion and Social Constraint”
	47	RICHARD McCONCHIE
New Books and Articles
	49

NEW INDIVIDUALIST REVIEW is published quarterly by New Individualist Review, Inc., at Ida Noyes Hall, University of Chicago, Chicago, Illinois 60637.

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, Ill. 60637. All manuscripts become the property of NEW INDIVIDUALIST REVIEW.

Subscription rates: $2.00 per year (students $1,00). Two years at $3.75 (students $1.75).

Copyright 1965 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 STAFF

Editor-in-Chief • Ralph Raico

Associate Editors • J. Michael Cobb • James M. S. Powell

Robert Schuettinger

Editorial Assistants • Douglas Adie • Burton Gray

Edwin Harwood • Edward Kimak • James A. Rock

Ernest L. Marraccini

EDITORIAL ADVISORS

Yale Brozen • Milton Friedman • George J. Stigler

University of Chicago

F. A. Hayek	Benjamin Rogge
University of Freiburg	Wabash College

Complaints of the loss of individuality and the lessening of respect for the person and his rights have become a commonplace of our time; they nonetheless point to a cause for genuine concern. NEW INDIVIDUALIST REVIEW, an independent journal associated with no organization or political party, believes that in the realm of politics and economics the most valuable system guaranteeing proper respect for individuality is that which, historically, has gone by the name of classical liberalism; the elements of this system are private property, civil liberties, the rule of law, and, in general, the strictest limits placed on the power of government. It is the purpose of the Review to stimulate and encourage explorations of important problems from a viewpoint characterized by thoughtful concern with individual liberty.

Home

The Forum

Econlib

The Library

Other Sites

The Library

Return to Title Page for New Individualist Review

The Online Library of Liberty

A project of Liberty Fund, Inc.

Search this Title:

Also in the Library:

NEW BOOKS AND ARTICLES - Ralph Raico, New Individualist Review [1961]

Edition used:

About Liberty Fund: