Interventionism

If the economy is slowing, argue some economists, the Fed should lower rates and flood the market with credit. Gene Callahan disagrees.

Economists like them, and they serve some useful purposes. But Frank Shostak reminds us that they can't predict the future.

Peter Bauer possesses a rare ability: he can see the obvious. Several philosophers discussed in this issue-Rawls, Dworkin, and Cohen -rail on and on about equality. 

One of the pillars of an interventionist US foreign policy is foreign aid. Since World War II, the United States has dispensed billions of dollars in foreign aid to virtually every country on the planet. Foreign aid was lavished on our friends and our foes during the cold war and a decade after. It is extended to both sides of military conflicts. It is even accorded to countries that regularly vote against the US in the UN. The recipient countries are less likely to reform their economies once they get on the US dole.

The Social Security Commissioner sent out a letter revealing what the system will eventually pay. Gregory Bresiger is not pleased.

For decades, the Department of Housing and Urban Development (HUD) has been renowned as one of Washington's biggest boondoggles. HUD Secretary Henry Cisneros admitted to Congress in June 1993: "HUD has in many cases exacerbated the declining quality of life in America." Vice President Al Gore denounced public housing projects in 1996: "These crime-infested monuments to a failed policy are killing the neighborhoods around them."

You've heard that government policies can cause unanticipated bad effects? This view is confirmed many times over when you consider the current forest-fire fiasco. Government is the cause of the fires that raged out of control across the West this summer, just as surely as if the Forest Service had spread the fuel and lit the match.

What the Gore's central plans would do to whole sectors of the economy, as explained by Thomas DiLorenzo.

Frank Knight complicates things in interesting ways. He first argues for a free economy in a way that Austrians can only applaud. 

In the 1940s, Mises wrote on the trends that brought Europe to the abyss of war and destruction. These essays remained unpublished--until now.