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The title of this article—Economic Affairs as Human Affairs—is
derived from a phrase I recall from the earliest days of my political
awareness. Dwight Eisenhower used to insist, with demonstrably
s...
ECONOMIC LIBERTIES AND THE CONSTITUTION：PROTECTION AT THE STATE LEVEL
ECONOMIC LIBERTIES CONSTITUTION
2008/12/8
In terms of protecting personal liberty, no provision of the Constitution
is more important than the second sentence of the Fourteenth
Amendment’s Section 1, which states:
No State shall make or en...
That government can scarcely be deemed to be free, where the
rights of property are left solely dependent upon the will of a legislative
body, without any restraint. The fundamental maxims of a
fre...
PROPERTY RIGHTS, LAND REFORM, AND ECONOMIC WELL-BEING
PROPERTY RIGHTS LAND REFORM ECONOMIC WELL-BEING
2008/12/8
Introduction
The basic premise ofthis paper is the belief that ownership enhances
economic performance. Aside from token reference to political stability,
little or no reference is usually made to ...
HOW THE FED CROWDED OUT REAGAN’S ECONOMIC POLICY
ECONOMIC POLICY Fed Power policymaking function
2008/12/8
The Split between Fed Power and Accountability
There is a fundamental problem with the Fed’s policymaking function.
Under the U.S. Constitution, government is not supposed to
convey power without a...
TARGETED CAPITAL SUBSIDIES AND, ECONOMIC WELFARE
CAPITAL SUBSIDIES General Accounting Office ECONOMIC WELFARE
2008/12/5
Both federal and state government agencies are actively involved
in programs designed to reduce the cost of capital to specific targeted
groups of firms or individuals. At the federal level alone, t...
Rent seeking has been part of government regulation since at least
1887, when the railroads succeeded in gaining partial government
enforcement of their cartels (Hilton 1966; Kolko 1965). Recent the...
THE COST OF REDUCING ECONOMIC INEQUALITY
ECONOMIC INEQUALITY tax and expenditure programs economic equality
2008/12/5
The publication of Charles Murray’s (1984) book Losing Ground has
rekindled interest in the role ofgovernment in promoting economic
equality using redistributive tax and expenditure programs. Murray...
THE COUNCIL OF ECONOMIC ADVISERS AFTER FORTY YEARS
Employment Act purchasing power economic policies
2008/12/5
With enactment ofthe Employment Act of 1946, Congress charged
the President to adopt economic policies that were designed “to
promote maximum employment, production, and purchasing power.”
The Act ...
ECONOMIC SIGNIFICANCE OF BRITISH LABOR LAW REFORM
ECONOMIC SIGNIFICANCE BRITISH LABOR LAW REFORM low labor productivity low economic growth
2008/12/5
Introduction
Overthe past generation the British disease of relatively low economic
growth and low labor productivity, accompanied by relatively
high inflation and unemployment, has become so obvio...
The Revival of the Locomotive Strategy
Recently there has been a revival of the “locomotive strategy,”
which was first applied in 1977—78. Atthat time, politicians and many
economists argued that a...
ECONOMIC ATROPHY IN BLACK AFRICA
ECONOMIC ATROPHY BLACK AFRICA Organization of African Unity
2008/12/4
Apalpable sense ofdespair, disillusionment, and indignation grips
black Africa today. An increasing number of black Africans feel
betrayed and outraged at Africa’s execrable economic and political
...
POPULATION GROWTH, ECONOMIC GROWTH, AND FOREIGN AID
POPULATION GROWTH ECONOMIC GROWTH FOREIGN AID
2008/12/4
It is a great honor, as well as a great pleasure, forme to contribute
to this Festschrift honoring Peter Bauer and his pathbreaking work
on economic development. My acquaintance with Bauer’s point o...
Economic Inequality and the Quest for Social Justice
Economic Inequality International income differentials Social Justice
2008/12/4
The problem of economic inequality has attracted much attention
in recent years. International income differentials were the central
concern ofthe Brandt Report on the so-called North-South Dialogue...
TAXATION, ECONOMIC GROWTH, AND LIBERTY
TAXATION ECONOMIC GROWTH LIBERTY less developed countries
2008/12/4
The Third World, often called the less developed countries (LDCs),
consists of over 100 nations in Africa, Asia, the Middle East, the
Western Hemisphere, and the Mediterranean. Most ofthese countrie...