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The New World Disorder

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AFTER MORE THAN A DECADE into the New World Order the only thing that looks new is the disorder on American soil wreaked by foreign terrorists on September 11. The atrocities of that day nearly defy the imagination. The assault by air on, and collapse of, the wondrous World Trade Center towers might have made a cinematic spectacle, but it would have had a far-fetched air to it. Now it has happened for real. All who appreciated those towers as symbols of commerce — which is to say, peace and prosperity — were sickened at the strike, not to mention the horrendous loss of life, many of the victims practitioners of the peaceable and creative art of securities trading. Much of the reaction since that day has been praiseworthy. The outpouring of condolences for the families of the dead, sympathy for the survivors, and admiration for the courageous rescuers fills all Americans with pride. The demand for justice for the ...

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The New World Disorder by Sheldon Richman, October 2001 AFTER MORE THAN A DECADE into the New World Order the only thing that looks new is the disorder on American soil wreaked by foreign terrorists on September 11. The atrocities of that day nearly defy the imagination. The assault by air on, and collapse of, the wondrous World Trade Center towers might have made a cinematic spectacle, but it would have had a far-fetched air to it. Now it has happened for real. All who appreciated those towers as symbols of commerce — which is to say, peace and prosperity — were sickened at the strike, not to mention the horrendous loss of life, many of the victims practitioners of the peaceable and creative art of securities trading. Much of the reaction since that day has been praiseworthy. The outpouring of condolences for the families of the dead, sympathy for the survivors, and admiration for the courageous rescuers fills all Americans with pride. ...

The Myth of War Prosperity, Part 2

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Part 1 | Part 2 Depression, War, and Cold War: Studies in Political Economy by Robert Higgs (Oxford University Press: 2006); 240 pages; $35. So the New Deal was far from a success. But most conservatives and even many leftist scholars will concede this; they simply adopt a different, and even more widely accepted fallacy, the one of “war prosperity,” which Higgs canvasses in chapter 3. “According to the orthodox account,” he writes, the war got the economy out of the Depression. Evidence for this claim usually includes the great decline in the standard measure of the unemployment rate, the large increase in the standard measure of real gross national product (GNP), and the slight increase in the standard measure of real personal consumption. ...