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

Edition used:

New Individualist Review, editor-in-chief Ralph Raico, introduction by Milton Friedman (Indianapolis: Liberty Fund, 1981).

About Liberty Fund:

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


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.

  • Milton Friedman and Anna J. Schwartz, The Great Contraction. Princeton. N. J., Princeton University Press, 1965. $1.95. A paperback reprint of those chapters in their monumental Monetary History of the United States, 1867-1960 (Princeton: Princeton Univ. Press, 1963) pertaining directly to the years of the Great Depression. Prof. Friedman remarks in the preface that the idea of a smaller reprint was given him by a student, with the idea in mind of bringing the work within reach of undergraduates and others unable to avail themselves of the complete work.
  • Vera Lutz, French Planning. Washington, D. C., American Enterprise Institute, 1965. An analysis and criticism of the “soft” economic planning pursued by France in recent years. This, and other worthwhile and scholarly publications, are available from the American Enterprise Institute at little cost. Address: 1200 Seventeenth Street N.W., Washington, D.C. 20036.
  • James J. Martin, American Liberalism and World Politics, 1931-1941. New York, Devin-Adair, 1963. 2 vols. $22.50. An extremely detailed exposition, largely from the pages of the Nation and The New Republic, of the shift in American left-wing circles from a position generally pacifistic and critical of the Versailles settlement, to one demanding a crusade against the Axis Powers. The New Republic and Nation’s profuse apologiae for Stalin’s forceful measures of internal policing in Russia during this period provide some amusement.
  • Richard Perlman, Wage Determination: Market or Power Forces. Boston, D.C. Heath and Co., 1965. $1.50. A timely paperback collection directed to the controversy of “countervailing power” or supply and demand in the labor market. Contributor Fritz Machlup proposes that the entrepreneur does equate marginal productivity with marginal costs in hiring simply through his feel of the situation.
  • Prof. P. T. Bauer of the London School of Economics, a specialist in the field of underdeveloped countries, criticizes in the June 29, 1965, issue of National Review (“Capitalism and African Economic Development”) the ideas on this subject of the in-vogue Swedish economist, Gunner Myrdal. Myrdal, Bauer finds, like so many other writers in this field, “takes the case for comprehensive [government] planning for granted without argument.” Yet, “it is by no means obvious why an economy should progress more rapidly, if what is produced is determined largely by the government, rather than by individual consumers and producers.” Prof. Bauer is, along with B. S. Yamey, author of The Economics of Underdeveloped Countries, an excellent introduction to the field.
  • Robert L. Cunningham, Professor of Philosophy at the University of San Francisco and well known to NIR readers, dissects the basic claims of the Triple Revolution group on automation in the current (Summer 1965) issue of Modern Age. Far from ranking with the works of Copernicus and Galileo, the ideas of this highly-publicized organization, Cunningham demonstrates, consist largely of a few shopworn economic fallacies, with an admixture of odd linguistic usage.
  • Edwin L. Dale, Jr., “The Big Gun on Poverty,” The New Republic, August 7, 1965. A writer on economic affairs for The New York Times points out the far greater efficacy in combatting poverty of greater economic growth over particular governmental programs. “Jobs have increased rapidly in the very places where the great bogey, automation, was supposed to cause trouble. . . . By the test of income, 450,000 families moved out of the poverty class last year, almost none of them touched by the poverty program. . . . The main conclusion is that an increase of one percentage point in the national rate of economic growth solves far more problems of human misery, insofar as they stem from unemployment or low income, than all the retraining programs, union resistance to automation, poverty programs, distressed-areas programs and the rest put together.”
  • Theodore Draper, “The Roots of the Dominican Crisis,” The New Leader, May 24, 1965. An interesting, objective analysis of the situation in the Dominican Republic following the ouster of Trujillo. Draper criticizes especially the incredibly incompetent handling of Latin American relations by the United States in general, and the Johnson Administration in particular. “In effect, the decision against Bosch was a decision against democracy and decency as the bulwarks against Communism.”
  • Harry Kalvin, Jr., “The New York Times Case,” 1964 Supreme Court Review. Chicago, University of Chicago Press, 1964. Prof. Kalvin of the University of Chicago Law School discusses the content and the larger significance of the Supreme Court’s actions in striking down the libel ruling of a lower court: “In brief compass, my thesis is that the Court, compelled by the political realities of the case to decide it in favor of the Times, yet equally compelled to seek high ground in justifying its result, wrote an opinion which may prove to be the best and most important it has ever produced in the realm of freedom of speech. . . . analysis of free speech issues should hereafter begin with the significant issue of seditious libel and defamation of government by its critics rather than with the sterile example of a man falsely yelling fire in a crowded theater.” The implications of the Times case extend far beyond the usual notions of “democratic open discussion”: “If [a society] makes seditious libel an offense, it is not a free society no matter what its other characteristics.”
  • Spencer MacCallum, “Social Nature of Ownership,” Modern Age, Winter 1964-65. Mr. MacCallum discusses the sociological role of property in human society and traces its functions logically prior to the State from the point of view of anthropology, and presents it as a workable alternative to state action. His discussion represents a serious and valuable contribution to classical liberal thinking in areas where the point is usually granted to the authoritarian position a priori.
  • An interesting article appeared in the July 24, 1965, issue of The New Republic: “Concern About LBJ,” by John Osborne. Among the sources of concern cited is the curious tone struck by Presidential Aide Jack Valenti, who recently stated, in a speech in Boston: “The Presidency is a mystical body, constructed by the Constitution, but whose architecture was conceived in the inner crannies of a people’s soul.” Valenti also referred, according to Osborne, to President Johnson as “a father to lead us,” and claimed that the President was fortified by a “Godly osmosis” [sic].
  • An excellent new journal is called to the attention of the libertarian reader: Left and Right, among whose editors appear Dr. Murray N. Rothbard and Leonard Liggio, both NIR contributors. Left and Right emphasizes an anti-Cold War position, from a libertarian point of view. Subscriptions to this journal, published three times yearly, are available from: Left and Right, Box 395, Cathedral Station, New York, N.Y. 10025, for $2.50 per year. Another interesting publication recently brought to our attention is Innovator, a monthly in the newsletter format, featuring “applications, experiments and advanced developments of liberty.” Subscriptions are $2.00 per year. Write: Innovator, P.O. Box 34718, Los Angeles, Calif.

Coming This Fall From Regnery

LIFE WITHOUT PREJUDICE and other Essays
by Richard Weaver

Selections of his most important and mature essays.

$3.50

NEW GATEWAY EDITIONS

THE INVISIBLE HAND
by Adrian Klaasen, editor

Essays in classical economics by such leading economists as George Stigler, Ludwig von Mises, Friedrich Hayek, Allen Wallis and Milton Friedman.

$2.45

SELF CONDEMNED
by Wyndham Lewis

This is a novel of great style and force about an Englishman who exiled himself to Canada during World War II Considered by T. S. Eliot to be Lewis’ most significant work.

$1.95

FADS AND FOIBLES IN MODERN SOCIOLOGY
by Pitirim A. Sorokin

One of the leading contemporary sociologists exposes the non-scientific and half-scientific elements in modern sociology and the related disciplines. Dr. Sorokin searingly debunks the use of obtuse jargon and sham-scientific slang, testomania—the overuse of intelligence, projection, ink-blot and thematic apperception tests—the “Grand Cult of ‘social physics’ and ‘mental mechanics’ ” and the obsolescent philosophy too widely adhered to by social science.

$2.45

CREATION AND DISCOVERY
by Eliseo Vivas

Essays in criticism and aesthetics. This book includes analyses and critiques of Dostoyevsky, Kafka, Dreiser, Henry and William James, discussions of the major aesthetic theories and problems of aesthetics.

$2.45

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In August 1963 We Promised:

“NEW INDIVIDUALIST REVIEW will NOT publish articles by James Baldwin, Ralph McGill, Walter Lippmann, J. William Fulbright, Arthur Schlesinger, Jr., Gore Vidal, Jean-Paul Sartre, or Howard N’Bongo-Bongo, Prime Minister of Anthropophagia;

“NIR will not tell you how affluent you are, or urge you to write your Congressman to triple your income-tax, so that the country can eliminate squalor in the public sector;

“NIR will not attempt to distinguish between in-itself and for-itself in the Theater of the Absurd, or compare Bertholt Brecht favorably with Shakespeare;

“NIR will not claim that Portuguese rule in Angola is the single greatest threat to world peace today;

“NIR will not assert that American businessmen are morally inferior to the Mau Mau.”

WE KEPT THIS PROMISE. This alone would be worth the price of a subscription, even if we sent you 60 pages of blank paper every three months. But we do more—we send you a magazine full of thoughtful and thought-provoking discussions of individualist ideas and proposals, by some of the leading classical liberal writers of today and tomorrow—articles like those in the issue you’ve just read.

HOW CAN YOU POSSIBLY LIVE WITHOUT NIR? SUBSCRIBE TODAY!

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ESSAYS IN THE HISTORY OF ECONOMICS
By GEORGE J. STIGLER

One of the most distinguished proponents of the “Chicago School” of economics, Professor Stigler has selected from his published writings the essays to be included in this volume. He ranges over such diverse topics as originality in scientific progress, the politics of political economists, the development of utility theory, Ricardian value and distribution, Fabian socialism, perfect competition, marginal productivity theory, and the Giffen paradox. “Professor Stigler writes with a wit that is even more to be cherished than his erudition. Economics would never have been called the dismal science if there had been a nineteenth-century Stigler.”—The Economist.

400 pages $6.95

THE CREATIVE ORGANIZATION
Edited by GARY A. STEINER

“The creative organization in fact prizes and rewards creativity. A management philosophy that stresses creativity as an organizational goal, that encourages and expects it at all levels, will increase the chances of its occurrence. But it is one thing to call for creativity, another to mean it, and still another to reward it adequately and consistently when it occurs.”

The coexistence of the creative organization and the creative temperament was the topic of a recent seminar sponsored by the Graduate School of Business of the University of Chicago. Here are papers presented by social scientists Bernard Berelson, Jerome S. Bruner, and Paul Meehl; educators Ralph W. Tyler and W. Allen Wallis; and executives B. E. Besinger, Peter Peterson, and David Ogilvy, together with lively exchanges of opinion and an “Overview” by Mr. Steiner.

288 pages $5.00

UNIVERSITY OF CHICAGO PRESS

Chicago/London

VOLUME 4, NUMBER 2, WINTER 1966

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HERBERT CLARK HOOVER: A RECONSIDERATION

MURRAY N. ROTHBARD

TWELVE THOUGHTS ON INFLATION

W. H. HUTT

CLASSICAL LIBERALISM AND RELIGION

M. STANTON EVANS RALPH RAICO

THE UNEASY CASE FOR STATE EDUCATION

E. G. WEST

A JOURNAL OF CLASSICAL LIBERAL THOUGHT

Winter 196675 centsVol. 4, No. 2
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Herbert Clark Hoover: A Reconsideration
3MURRAY N. ROTHBARD
Twelve Thoughts on Inflation
13W.H. HUTT
Classical Liberalism and Religion
19M. STANTON EVANS RALPH RAICO
Anglican and Gallican Liberty
32FRANCIS LIEBER
The Uneasy Case for State Education
38E. G. WEST
COMMUNICATION:
South Africa Reconsidered
50THOMAS MOLNAR
REVIEW:
Alchian and Allen’s “University Economics”
53STANLEY G. LONG
New Books and Articles
56

Due to unavoidable technical difficulties, we have been forced to omit the Autumn 1965 issue of New Individualist Review. The present Winter 1966 issue follows the Summer 1965 issue as Volume IV, Number 2. Subscriptions will not be affected by this omission; each subscriber will receive four issues for a one-year subscription.

NEW INDIVIDUALIST REVIEW is published quarterly by New Individualist Review, Inc., at Ida Noyes Hall, University of Chicago, Chicago, Illinois 60637. Telephone 312/363-8778.

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, Illinois 60637. All manuscripts become the property of NEW INDIVDUALIST REVIEW.

Subscription rates: $3.00 per year (students $1.50). Two years at $5.75 (students $2.75).

Copyright 1966 by New Individualist Review, Inc., Chicago, Illinois. All rights reserved. Republication of less than 200 words may be made without specific permisaion 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.

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EDITORIAL STAFF

Editor-in-Chief • Ralph Raico

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

Robert Schuettinger

Editorial Assistants • Douglas Adie • David D. Friedman

Burton Gray • Edwin Harwood • Thomas C. Heagy

James A. Rock • Ernest L. Marraccini • John C. Moorhouse

EDITORIAL ADVISORS

Yale Brozen • Milton Friedman • George J. Stigler

University of Chicago

F. A. HayekBenjamin Rogge
University of FreiburqWabash 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 system most effectively 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.