Book Reviews

Book Review: Market Liberalism

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Market Liberalism: A Paradigm for the 21st Century edited by David Boaz and Edward H. Crane (Washington, D.C.: Cato Institute, 1993); 404 pages; $15.95. As the 20th century approaches its end, the American people face the challenge of deciding their political and economic future. Socialism has been defeated. The experience of the ... [click for more]

Book Review: Out of Work

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Out of Work: Unemployment and Government in Twentieth-Century America by Richard K. Vedder and Lowell E. Gallaway (New York/London: Holmes & Meier, 1993); 336 pages. In 1932, the English economist Edwin Cannan delivered the presidential address to the Royal Economic Society. His topic was "The Demand for Labor." With the Great ... [click for more]

Book Review: Mises

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Mises: An Annotated Bibliography compiled by Bettina Bien Greaves and Robert W. McGee (Irvington-on-Hudson, New York: The Foundation for Economic Education, 1993); 391 pages; $14.95. In his 1894 book, The Tyranny of Socialism, the French classical liberal Yves Guyot admitted that "we, who are endeavoring to recall the principles of equality before the law and the guarantees of individual liberty, are ... [click for more]

Book Review: Second Thoughts

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Second Thoughts: Myths and Morals of U.S. Economic History edited by Donald N. McCloskey (New York: Oxford University Press, 1993); 208 pages; $24.95. In his introduction to the 1954 book Capitalism and the Historians , Friedrich A. Hayek pointed out that "past experience is the foundation on which our beliefs about ... [click for more]

Book Review: Hayek and the Keynesian Avalanche

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Hayek and the Keynesian Avalanche by Brian McCormick (New York: St. Martin's Press, 1992); 289 pages; $59.95. In England in the 1930s, there were two opposing schools of economic thought concerning the causes, consequences and cures of the Great Depression. One was headquartered at the London School of Economics, with the ... [click for more]

Book Review: Welfare Economics and Externalities in an Open Ended Universe

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Welfare Economics and Externalities in an Open Ended Universe: A Modern Austrian Perspective by Roy E. Cordato (Boston: Kluwer Academic Press, 1992); 140 pages. Classical liberals and libertarians have traditionally argued that government should be limited to certain essential functions for the sake of social order: police protection against domestic criminals, military force for security against foreign aggression, and a court ... [click for more]

Book Review: Russia’s Secret Rulers

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Russia's Secret Rulers: How the Government and the Criminal Mafia Exercise Their Power by Lev Timofeyev (New York: Alfred A. Knopf, 1992); 177 pages; $21.00. The Soviet Union was a harsh taskmaster for those who were interested in truth and were daring enough to convey the truths they had learned. Lev Timofeyev graduated as an economist from the Moscow Institute of ... [click for more]

Book Review: Reinventing Politics

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Reinventing Politics: Eastern Europe from Stalin to Havel by Vladimir Tismaneanu (New York: The Free Press, 1992); 312 pages; $24.95. Europe lasted for more than four decades. And each of the communist regimes constructed in Poland, East Germany, Czechoslovakia, Hungary, Romania, Bulgaria, Yugoslavia and Albania were, in its essentials, created in ... [click for more]

Book Review: A Nation of Victims

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A Nation of Victims: The Decay of the American Character by Charles J. Sykes (New York: St. Martin's Press, 1992); 289 pages; $22.95. One of the reasons that socialism came to have such a great appeal to many in the 19th and 20th centuries was that it offered a powerful rationale for an individual to avoid responsibility for the consequences of ... [click for more]

Book Review: Laogai – The Chinese Gulog

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Laogai—The Chinese Gulag by Hongda Harry Wu (Boulder, Colorado: Westview Press, Inc., 1992); 247 pages; $34.95. The world has marveled for over ten years at the economic progress in communist China. The collective farms were transformed into private family enterprises. The Communist Party declared that "to be rich is glorious," and ... [click for more]

Book Review: Russia Transformed

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Russia Transformed: Breakthrough to Hope by James H. Billington (New York: The Free Press, 1992); 202 pages; $19.95. Earlier this year, the Library of Congress in Washington, D.C., hosted an exhibit of previously secret documents from the Soviet archives. One of them was an order sent by Lenin on August 11, 1918, to ... [click for more]

Book Review: Forbidden Grounds

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Forbidden Grounds: The Case Against Employment Discrimination Laws by Richard A. Epstein (Cambridge: Harvard University Press 1992); 530 pages; $39.95. In the 1960s, many conservatives opposed the civil-rights acts and forced-integration laws that were passed. Some of these conservatives may have been racists who ... [click for more]
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