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Book Review: In Defense of Free Capital Markets

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In Defense of Free Capital Markets: The Case against a New International Financial Architecture by David F. DeRosa (Princeton, N.J.: Bloomberg Press, 2001); 230 pages; $27.95. IN THE 1930s, during the high watermark of aggressive economic nationalism in Europe, one of the most effective political weapons of regulation used by governments was control over the buying and selling of currencies on ...

Morality, the Welfare State, and Freedom

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THE WELFARE STATE and the regulated society are based on a twofold notion about morality: first, that this type of society reflects that people are moral, caring, compassionate, and responsible and, second, that this type of society makes people moral, caring, compassionate, and responsible. Consider, for example, President Bush’s plan to deliver government funding to faith-based organizations. His belief is ...