Economics and Welfare

The books listed here deal with issues such as capitalism;  socialism;  the welfare state;  poverty and wealth;  the Third World and development;  economics and ethics;  economic history;  economics and culture;  political economy;  and related issues.  Their unifying characteristic is of course the conservative perspective each book represents.  A number of different types of conservative economic thought are featured:  the Austrian School;  the Chicago School;  Supply-Siders;  Monetarists;  Public Choice Theorists;  Anarcho-Capitalists;  etc.  For books on the "gloom and doom-ists" who predict economic and environmental collapse, see Section Ten.

Anderson, Martin, Welfare:  The Political Economy of Welfare Reform in the United States.  Stanford, California:  Hoover Institution Press, 1978.  251pp.

What major changes are needed in welfare reform?  Why have most attempts at change failed?  Is change possible?  In this valuable work Anderson deals with such questions, drawing on his expertise in the field of economics and his experience in the White House under Nixon and Ford.  Anderson concludes that radical welfare reform is politically impossible.  Although over a decade old, this is still one of the most scholarly and detailed studies available on the welfare debate.

Baldacchino, Joseph, Economics and the Moral Order.  Washington, DC:  National Humanities Institute, 1985.  43pp.

Over against those who hold that economic liberty is a virtue in and of itself, the author argues that an economy must be undergirded by a strong moral order, both for its justification and its preservation.  Economic systems, especially capitalism, which are indifferent to morality will not long survive.  The free market must be defended in terms of ethics as much as it is in terms of efficiency.  A brief but cogent study.

Ballve, Faustino, Essentials of Economics:  A Brief Survey of Principles and Policies.  Irvington-On-Hudson, New York:  The Foundation For Economic Education, 1956, 1963.  109pp.

Ballve, a Spanish born economist who died in Mexico in 1958, here presents a brief and readable survey of basic economic history and principles.  A helpful guide to the ideas, leading men and movements, and practice of economic science, by a qualified student of the discipline.

Bastiat, Frederic, The Law.  Irvington-On-Hudson, New York:  The Foundation For Economic Education, 1950, 1984.  75pp.

Bastiat (d. 1850), was a French economist and statesman.  This volume, first published in 1850, is a brief defence of law as a means to protect property and freedom.  Socialism, argues Bastiat, is "legal plunder".  The proper aim of government is to prevent such plunder.  A spirited defence of liberty and a powerful critique of socialism.

Bauer, P.T., Dissent on Development:  Studies and Debates in Development Economics.  Cambridge, Massachusetts:  Harvard University Press, 1972.  550pp.

This book, by a leading economist on development and Third World issues, covers a number of subjects:  poverty, development, foreign aid, colonialism, imperialism, Marxism in the Third World, the United Nations Conference on Trade and Development, and a number of case studies:  Nigeria, India, etc.  A wide-ranging, detailed and convincingly argued volume.  A very fine book.

Bauer, P.T., Equality, the Third World, and Economic Delusion.  Cambridge, Massachusetts:  Harvard University Press, 1981.  293pp.

This is an excellent collection of essays critiquing foreign aid;  dependency theories;  Marxist economics;  and Western guilt manipulators.  Destroys the myth that capitalist nations thrive by exploiting Third World nations.  Bauer's arguments are scholarly, lucid, fact-filled and devastating.  This is fascinating and essential reading.  My highest recommendations.  Bauer is Professor of Economics Emeritus at the London School of Economics and Political Science.

Bauer, P.T., Reality and Rhetoric:  Studies in the Economics of Development.  Cambridge, Massachusetts:  Harvard University Press, 1984.  184pp.

The majority of essays in this volume have appeared before in journals and periodicals.  Subjects discussed include:  foreign aid;  development;  Third World economies;  income redistribution;  and market versus planned economies.  An important and stimulating collection of essays by an outstanding economist and observer of Third World development.

Beisner, E. Calvin, Prosperity and Poverty:  The Compassionate Use of Resources in a World of Scarcity.  Westchester, Illinois:  Crossway Books, 1988.  304pp.

Combining a good grounding in economics with sound knowledge of biblical principles, Beisner deals with a number of issues from a Christian perspective:  the nature, causes and alleviation of poverty;  the creation of wealth;  the effects of economic regulation;  the relationship between justice and equality;  and how churches can best help the poor.  A good synthesis of biblical data and economic principles.  Beisner is a specialist in economic ethics.

Bell, Daniel, The Cultural Contradictions of Capitalism.  New York:  Basic Books, 1976.  301pp.

Bell, a Jewish socialist, is only partly conservative:  "I'm a socialist in economics, a liberal in politics, and a conservative in culture".  But this work is important enough to warrant its inclusion.  In it Bell argues that the Protestant ethic which helped to give rise to modern capitalistic society, has been replaced by materialism and hedonism.  Modernism is now exhausted, and Western bourgeois culture is in crisis.  This crisis is in large measure a spiritual one, in need of a religious solution.  An important critique of contemporary culture.  Bell teaches sociology at Harvard University.

Belloc, Hilaire, The Servile State.  Indianapolis:  Liberty Classics, 1977.  207pp.

Belloc (1870-1953) was a British historian, poet, novelist, and Roman Catholic apologist.  Along with G.K. Chesterton, he was a proponent of Distributism, a kind of agrarian libertarianism.  This book, his most important defence of private property and the minimal state, originally appeared in 1912.

Bennett, James T. and Thomas J. DiLorenzo, Destroying Democracy:  How Government Funds Partisan Politics.  Washington, DC:  Cato Institute, 1985.  561pp.

That public interest groups push their agendas in a democratic society is no problem.  That they should do so with taxpayers' dollars is a problem.  The authors document how "Federal, state, and local governments give hundreds of millions of taxpayers' dollars each year to organizations that use the money for political advocacy ... Given a choice, many taxpayers would not support the political agendas of these recipients of government largesse".  An important exposé of how many left-wing groups are being subsidized by Washington.

Berger, Peter L., The Capitalist Revolution:  Fifty Propositions About Prosperity, Equality and Liberty.  New York:  Basic Books, 1986.  262pp.

Berger is a professor at Boston University, and another intellectual who has moved to the right during the past several decades.  In this volume Berger argues that capitalism, with all its faults, is empirically superior to all other economic systems in raising the standard of living of the masses, while maintaining basic human freedoms.  He argues that many of the defects attributed to capitalism are in fact the products of modernization and industrialization.  Loaded with deep insight, wide-ranging knowledge and empirical fact, this is an excellent volume.  If you can read only one book on capitalism, read this one.

Berger, Peter and Michael Novak, Speaking to the Third World:  Essays on Democracy and Development.  Washington, DC:  American Enterprise Institute for Public Policy Research, 1985.  59pp.

What are the obstacles to economic growth and the development of democracy in many Third World nations?  Novak and Berger dispel many of the prevailing myths surrounding this question in these valuable essays.  Fundamental to economic development and human rights, argue the authors, are certain moral and cultural values and attitudes, such as the dignity of persons, the importance of families, and the place of voluntary associations.  Thus the authors challenge the idea that Third World poverty and injustice are the results of western imperialism and exploitation.  A well-informed and incisive book.

Bernbaum, John A., ed., Economic Justice and the State:  A Debate Between Ronald H. Nash and Eric H. Beversluis.  Grand Rapids, Michigan:  Baker Book House, 1986.  79pp.

This book puts together in one volume a debate carried on over several years in several periodicals.  Nash, a professor of philosophy and religion at Western Kentucky University, argues that a biblical understanding of justice precludes government intervention in the economy, while Beversluis, an economics professor, contends that it does not.  Nash has written a number of works in defence of the free enterprise system (see below).

Bohm-Bawerk, Eugen von, The Exploitation Theory of Socialism-Communism.  South Holland, Illinois:  Libertarian Press, 1960;  Third (Revised) Edition, 1975.  159pp.

Bohm-Bawerk (1851-1914), a leader of the Austrian school of economics, was the teacher of both von Mises and Schumpeter, two leading economists of this century.  This work is an extract from volume one of his monumental three-volume work, Capital and Interest, first published in 1884.  Since most of us will never read the original 1,248 page work, we can be grateful that this smaller excerpt -- one of its key sections -- has been separately published.  It is a thorough and forceful refutation of the Marxian theory of value.

Braudel, Fernand, Civilization and Capitalism:  15th-18th Century.  3 vols.  New York:  Harper and Row, 1981, 1982, 1984.  Vol. 1:  623pp;  vol. 2:  670pp;  vol. 3:  699pp.

Originally published in France in 1979, this important work presents a social and economic history of the world from the Middle Ages to the Industrial Revolution.  Volume one looks at the "Structures of Everyday Life" -- diet, clothing, transport, technology, towns and cities;  volume two, "The Wheels of Commerce", compares "the market economy and the higher activity of capitalism";  and volume three, "The Perspective of the World", is a "chronological study of the forms and successive preponderant tendencies of the international economy", A monumental undertaking, brilliantly executed.  Braudel has taught history at numerous universities throughout the world.

Brookes, Warren T., The Economy In Mind.  New York:  Universe Books, 1982.  240pp.

An enthusiastic defence of supply-side economics by an economic columnist for the Boston Herald.  Brookes argues that the primary elements in the production of wealth are metaphysical rather than material.  They include creativity, imagination, innovation and risk-taking.  This book is loaded with good insights, hard facts, and helpful proposals.  A very good volume.

Brown, Susan Love, et. al., The Incredible Bread Machine.  San Diego:  World Research, Inc., 1974.  192pp.

In this volume six young scholars clearly and entertainingly present the case for capitalism, and the case against interventionism.  Topics discussed include:  price controls, minimum wage laws, labour unions, anti-trust and monopoly, the "robber barons", protectionism, money and the gold standard, inflation, and the Great Depression.  A witty and palatable vindication of free enterprise.

Browning, Bob, The Network:  A Guide to Anti-Business Pressure Groups.  Melbourne:  Canonbury Press, 1990.  266pp.

Browning, a public affairs consultant, here provides a detailed critique of Australian "public interest" groups -- groups such as the environmentalists, consumerists and other single issue lobbyists.  He shows how these organizations use public interest issues to "harness state power for social engineering, which simultaneously advances their special class interest in Big Government".  A careful look at the history, philosophy, government patronage and hidden agendas of a number of groups rightly described elsewhere as "coercive utopians."

Brunner, Karl, ed., The First World and the Third World:  Essays on the New International Economic Order.  Rochester:  University of Rochester Policy Center Publications, 1978.  272pp.

This book contains 11 essays critiquing proposals for a New International Economic Order, and discussing First World and Third World relationships.  Contributing are Brunner, Daniel Patrick Moynihan, P.T. Bauer, Basil S. Yamey, Harry G. Johnson, and Rachel McCulloch.  A lucid and penetrating set of essays, many of which were previously published.

Buchanan, James M., Reagonomics and After.  London:  Institute of Economic Affairs, 1989.  114pp.

On 8 December 1988 the Cato Institute of Washington DC and the IEA co-sponsored a conference in London on the theme of Reaganomics.  Top British and American economists presented papers on the Reagan years and their effect.  Participants included Buchanan, Paul Craig Roberts, Patrick Minford and Irwin Stelzer.  An incisive evaluation of the economic policies of Reagan and Thatcher.

Buchanan, James M., What Should Economists Do?  Indianapolis:  Liberty Press, 1979.  292pp.

In 1986 Buchanan won the Nobel Prize in Economics, making him the fourth free market economist to have done so recently, along with Stigler (1982), Friedman (1976), and Hayek (1974).  In this volume there are a number of essays by Buchanan on economics in general, and the theory of public choice in particular.  Intriguing writings by a leading economist at the Virginia Polytechnic Institute and State University.

Butler, Eamonn, Milton Friedman:  A Guide to His Economic Thought.  New York:  Universe Books, 1985.  272pp.

Butler, Director of the Adam Smith Institute, here provides a thorough and understandable analysis of Friedman's economic thinking.  Friedman's theories on inflation, the money supply, unemployment, price controls and related topics are covered, along with critiques made of his theories.  A helpful explanation of the major themes in Friedman's writings.

Butler, Stuart and Anna Kondratas, Out of the Poverty Trap.  New York:  The Free Press, 1987.  264pp.

Conservatives have long written about the shortcomings of the welfare state.  Their critiques have often been mainly negative in nature however.  This volume is a positive approach to welfare policy, providing constructive proposals for change.  The authors, authorities in the field of domestic policy, offer workable and sensible solutions to the problems of poverty and welfare dependency.  A fine example of the practicality and viability of free market economics.

Carson, Clarence B., Basic Economics.  Wadley, Alabama:  American Textbook Committee, 1988.  390pp.

In this non-technical introductory textbook Carson deals with all the basic components of economics:  property, money, the market and prices, competition and monopoly, the elements of production, the distribution of wealth, and international trade.  Major politico-economic systems are also examined:  feudalism, mercantilism, free enterprise, capitalism, welfarism, and communism.  A helpful introduction to economics written from a free market perspective.

Carson, Clarence B., Organized Against Whom?:  The Labour Union in America.  Alexandria, Virginia:  Western Goals, 1983.  112pp.

This is a detailed study of the history, practices and goals of American labour unions.  Carson charges that unions are more harmful than helpful to American workers, and that a free market for labour is beneficial to the worker and consumer alike.  A forceful indictment of union privilege and government interventionism.  Carson has taught American history for a number of years.

Carson, Clarence B., The War on the Poor.  New Rochelle, New York:  Arlington House, 1969.  283pp.

This is a forceful condemnation of the welfare state.  The poor are those who are most harmed by many anti-poverty programs, argues Carson.  The poor can only be lifted out of poverty by economic growth and productivity which can only occur when government interference is kept at a minimum.  Confiscatory taxation deprives workers of the fruit of their labour, thus taking away their motivation to produce.  Therefore redistributionism as a means to help the poor is doomed to failure.

Catherwood, H.F.R., The Christian in Industrial Society.  London:  Tyndale Press, 1964, 1980.  188pp.

This is an important book on the Christian role in the work place, with helpful chapters on labour unions, corporate power, big business, fair trade, just wages, employer/employee relationships, and much more.  An informative and practical volume on how Christian principles can operate in the industrial world.  Includes a perceptive Appendix assessing the Weber-Tawney Thesis.  Catherwood is a respected British industrialist, turned public servant and trade ambassador.

Chafuen, Alejandro A., Christians For Freedom:  Late-Scholastic Economics.  San Francisco:  Ignatius Press, 1986.  207pp.

"The major objective of this thesis is to study the contributions of Roman Catholic writers to the understanding and furtherance of the free society, especially in the field of economics".  The result of this study "suggests that modern free-market authors owe the Scholastics more than they imagine".  The views of Aquinas, Sylvestre, Gerson, Summenhart, Vitoria, Soto and others on subjects like private property, money theory, profits, wages and distributive justice are carefully examined.  Chafuen shows that these thinkers were generally more supportive of the free market than are modern-day Catholic thinkers.  An important study by an Argentine economist.

Chamberlain, John, The Enterprising Americans:  A Business History of the United States.  New York:  Harper and Row, 1961, 1962, 1963.  282pp.

This is an informative and fascinating history of capitalism and capitalists in the United States.  Personalities such as Eli Whitney, J.P. Morgan, John D. Rockefeller, and Frank Woolworth, and companies such as Standard Oil, Ford Motor Co., Westinghouse Electric, AT&T, and General Motors are among the topics covered.  An important work on the contributions and achievements of American capitalism.

Chamberlain, John, The Roots of Capitalism.  Princeton, New Jersey:  D. Van Nostrand Co., 1959, revised edition, 1965.  222pp.

In this volume Chamberlain surveys the historical development of capitalism in America.  He defends the efficacy and morality of capitalism, while critiquing the weaknesses of centrally planned economies.  A helpful work on the hows and whys of the growth and successes of capitalism in America.  Chamberlain has taught journalism at Columbia University.

Chilton, David, Productive Christians in an Age of Guilt Manipulators.  Tyler, Texas:  Institute for Christian Economics, 1981, Third Revised Edition, 1985.  439pp.

This is a full-length, spirited response to liberal economics in general, and to leftist Christian Ronald Sider's book Rich Christians in an Age of Hunger in particular.  This book is a frontal assault on all those who feel that socialism, interventionism, and liberation theology are the Christian option for helping the poor and establishing justice.  Chilton is part of the Theonomy, or Christian Reconstruction, movement, which seeks to apply Old Testament law to current social problems.

Clouse, Robert G., ed., Wealth and Poverty:  Four Christian Views on Economics.  Downers Grove, Illinois:  Inter Varsity, 1984.  228pp.

This book features the presentation of four views on economics, each of which is responded to by the other three.  Gary North's article and his responses to the other positions comprise the conservative voice in this collection.  North does a more than adequate job of defending free market capitalism, although some may feel that his economics is better than his theology.  A helpful debate.

Cornuelle, Richard, Healing America.  New York:  G.P. Putnam's Sons, 1983.  208pp.

This volume offers an explanation for America's continuing economic crisis.  It evaluates the Keynesian approach to U.S. economics, and traces its harmful effects.  It calls for the expansion of the independent sector (non-governmental, non-commercial) as the means of healing America.  A helpful and challenging work.

Cowen, Tyler, ed., The Theory of Market Failure:  A Critical Examination.  Fairfax, Virginia:  George Mason University Press, 1988.  384pp.

In this collection of articles on market failure -- the supposed failure of the market in providing public goods -- several defenders of this theory (e.g. Paul Samuelson), and challengers to it (e.g. Harold Demetz and James Buchanan) are featured, and a number of case studies of private (market) provision of public goods (e.g. municipal services, education, wildlife management) are presented.  An important set of articles rebutting arguments of market failure and government intervention.

Cromartie, Michael, ed., Gaining Ground:  New Approaches to Poverty and Dependency.  Washington, DC:  Ethics and Public Policy Center, 1985.  79pp.

This collection of essays deals with U.S. social programs and the problem of poverty.  Why the lack of progress despite such massive outlays in welfare and poverty programs?  These essays address this question, and provide alternate proposals for helping the poor without creating dependency.  The five authors are Peter Berger, Charles Murray, Glenn Loury, Michael Novak and Robert Royal.  A helpful and challenging set of essays.

Crozier, Brian and Arthur Seldon, Socialism:  The Grand Delusion.  New York:  Universe Books, 1986.  208pp.

In the first section of this book socialism as a theory and social system is examined and critiqued.  Next, the main exponents of socialism -- Owen, Saint-Simon, Marx, etc. -- are discussed.  Thirdly, Soviet, Eastern European and Third World varieties of socialism are assessed.  The authors demonstrate the bankruptcy of socialism, and show how it inevitably results in numbing bureaucracy, economic inefficiency and loss of freedom.

Davis, John Jefferson, Your Wealth in God's World:  Does the Bible Support the Free Market?  Phillipsburg, New Jersey:  Presbyterian and Reformed Publishing Company, 1984.  134pp.

A spirited and informed analysis of capitalism from an evangelical perspective.  Davis shows how capitalism is both morally and practically superior to socialism, and he demonstrates how capitalism's principles can be found in biblical truth.  Davis is Professor of Theology at Gordon-Conwell Theological Seminary near Boston.

Duncan, Tim and John Fogarty, Australia and Argentina:  On Parallel Paths.  Melbourne:  Melbourne University Press, 1984.  203pp.

Although some changes have taken place since 1984 (when this book was published), Australia may well find itself still on the road to becoming a banana republic.  This volume traces the similarities between Argentina and Australia in their economic development (or demise).  Argentina, once a prosperous nation before the war, has now become a banana republic through economic and political mismanagement.  The same fate seems to be in store for Australia, unless major changes are implemented.  An important volume.  The authors are both specialists in the political and economic history of Argentina.  Duncan has been a journalist with The Bulletin and Business Review Weekly, and Fogarty is a former teacher in economic history at the University of Melbourne.

Friedman, Milton, Bright Promises, Dismal Performance:  An Economist's Protest.  New York:  Harcourt Brace Jovanovich, 1972, 1975, 1983.  393pp.

This is a collection of articles Friedman wrote between 1968 and 1982.  Subjects covered include:  taxation;  the energy crisis;  protectionism;  inflation;  welfare;  corporations;  and monetary policy.  Friedman won the Nobel Prize in economics in 1976, and is Emeritus Professor of Economics at the University of Chicago.

Friedman, Milton, Capitalism and Freedom.  Chicago:  University of Chicago Press, 1962.  202pp.

Friedman has written here a trenchant and valuable defence of capitalism.  He examines the important relationship between capitalism and freedom, and argues that economic freedom is a necessary condition for political freedom.  An excellent treatise on political economy.

Friedman, Milton and Rose Friedman, Free To Choose.  New York:  Harcourt Brace Jovanovich, 1980.  338pp.

This volume further explores the inter-relationships between economic, political and personal freedom.  The Friedmans argue forcefully for the free market, as they discuss the American school system, the tax system, labour unions, consumer protection, government subsidization, inflation and welfarism.  A witty, convincing, and educated treatise.

Friedman, Milton and Anna Jacobson Schwartz, A Monetary History of the United States 1867-1960.  Princeton, New Jersey:  Princeton University Press, 1963.  860pp.

"This book is about the stock of money in the United States.  It traces changes in the stock of money for nearly a century, from just after the Civil War to 1960, examines the factors that accounted for the changes, and analyzes the reflex influence that the stock of money exerted on the course of events".  A massive and scholarly undertaking, crammed full of charts, facts, figures, statistics and notes.

Gilder, George, Microcosm:  The Quantum Revolution in Economics and Technology.  New York:  Simon and Schuster, 1989.  426pp.

"The central event of the twentieth century is the overthrow of matter.  In technology, economics and the politics of nations, wealth in the form of physcial resources is steadily declining in value and significance.  The powers of mind are everywhere ascendant over the brute force of things".  Gilder demonstrates how ideas and technologies, not land and resources, are the key to international ascendancy.

Gilder, George, The Spirit of Enterprise.  New York:  Simon and Schuster, 1984.  274pp.

The thesis of this book is that economic growth is fundamentally the product of creative and inventive entrepreneurs.  To illustrate this point, Gilder presents a number of case studies:  examples of individual entrepreneurs who have successfully and profoundly impacted their own lives and the economies they live in.  Gilder is the author of a number of works on economics and social issues.

Gilder, George, Wealth and Poverty.  New York:  Basic Books, 1981.  365pp.

This is one of the most influential and important works written in favour of capitalism in the past decade.  It is a forceful and learned treatise on free market economics.  Both a shattering critique of liberal economics and a major defence of the capitalist system, Wealth and Poverty is a book no one should ignore.  A masterful and eloquent work.

Grant, George, Bringing in the Sheaves:  Transforming Poverty into Productivity.  Atlanta, Georgia:  American Vision Press, 1985.  250pp.

America's welfare system is an abject failure, argues Grant.  Christians have a responsibility to help the poor, but must they support inept government programs?  No, claims Grant.  Churches, voluntary societies and families can play a key role in relieving poverty by promoting productivity.  This is not mere theory, as Grant and the evangelical church he pastors in Houston are actively involved in helping the poor.  A practical book showing how Christians can work for economic justice in a very concrete fashion.

Grant, George, The Dispossessed:  Homelessness in America.  Westchester, Illinois:  Crossway Books, 1986.  283pp.

As a pastor, president of a crisis pregnancy centre, and president of a charitable relief organization, Grant is ably qualified to give practical and biblical answers to the problems of poverty and homelessness.  A number of issues are carefully dealt with in this volume:  mental illness;  housing regulation;  transiency, unemployment, alcoholism;  and the farm crisis.  Also, workable and biblically-based solutions are put forth.  A fine example of evangelical social action.

Grant, George, In the Shadow of Plenty.  Nashville:  Thomas Nelson, 1986.  188pp.

This volume seeks to lay out a biblical view of key economic issues such as welfare, poverty and world hunger.  A critique of current liberal programs, as well as practical proposals for alternative courses of action.  This is volume four of the Biblical Blueprints Series.

Gray, John, Limited Government:  A Positive Agenda.  London:  Institute of Economic Affairs, 1989.  84pp.

"The argument for limited government and for the market economy is not in the end an economic argument.  It is an ethical argument -- the argument that, in the conditions of a modern society, only market institutions can give practical realization to the values of liberty and human dignity".  Gray examines the functions and limits of government and sets out a moral and economic philosophy for limited government.  An important defence of political and individual liberty by a teacher of politics at Oxford University.

Griffiths, Brian, The Creation of Wealth:  A Christian's Case for Capitalism.  Downers Grove, Illinois:  Inter Varsity Press, 1984.  160pp.

Griffiths offers a moral and ideological defence of capitalism.  He argues that it is in fact more compatible with biblical ideals than is socialism, and that capitalism is the best means of reducing poverty in the world.  Griffiths is an English evangelical and a noted international economist.

Griffiths, Brian, Morality and the Marketplace.  London:  Hodder and Stoughton, 1982.  160pp.

In this earlier work by Griffiths, both capitalism and socialism are critiqued from the Christian standpoint.  While he finds weaknesses in both positions, Griffiths opts for a "Christianized" capitalism as the most moral and beneficial economic system.

Gutman, G.O., Retreat of the Dodo:  Australian Problems and Prospects in the 80s.  Canberra:  Brian Clouston, 1982.  195pp.

Mediocrity and stagnation describe Australian social and economic progress in the 1960s and 1970s, argues Gutman.  Hope for change in the 1980s and 1990s can only come if major institutional reform takes place.  If problems such as protectionism and industrial strife are tackled;  and if Australia comes to terms with Japan, accepts new technology and reforms its educational system, then it may be able to compete effectively in the modern world.  A challenging and optimistic blueprint for change.  The author is a head of an economic consultant firm.

Gwartney, James D., Richard Stroup and J.R. Clark, Essentials of Economics.  Second edition.  New York:  Academic Press, 1985.  485pp.

This is one of the few college textbooks on economics that comes from a decidedly conservative -- that is, pro-free enterprise -- perspective.  This book, states the authors, "attempts to teach students the economic way of thinking rather than merely acquaint them with a large collection of fact and fiction about economics".  It is "one of a very few texts that teaches students the basics of political economy and uses this knowledge to explain the choice process in the public sector".  A very helpful and easy to use textbook.

H.R. Nicholls Society, Arbitration In Contempt.  Melbourne:  H.R. Nicholls Society, 1986.  347pp.

This volume contains the proceedings of the inaugural meetings of the H.R. Nicholls Society held in Melbourne in February and March of 1986.  Wage fixing tribunals, labour unions, the Arbitration Commission, regulation and deregulation, employment, and related issues are the focus of the book.  Participants include Hugh Morgan, John Kerr, Gerard Henderson, Peter Costello, John Stone and eight others.  A good collection of essays on economics, arbitration and trade unionism in Australia.

Harrison, Lawrence E., Underdevelopment Is a State of Mind:  The Latin American Case.  Lanham, Maryland:  Madison Books, 1985.  192pp.

Harrison claims that culture, "more than any other factor, explains why some countries grow faster and more equitably than others".  In Latin America, the major focus of this study, one finds "a cultural pattern, derivative of traditional Hispanic culture, that is anti-democratic, anti-social, anti-progress, anti-entrepreneurial, and, at least among the elite, anti-work".  These factors, and not Western imperialism, provide the best explanation for Latin America's economic malaise.  An excellent volume, rich in case studies.  Harrison served in the U.S. Agency for International Development for twenty years.

Hayek, Friedrich A., The Fatal Conceit:  The Errors of Socialism.  Chicago:  University of Chicago Press, 1988.  180pp.

This volume is actually the first of a projected 22 volumes of the collected works of Hayek, edited by W.W. Bartley.  The Fatal Conceit is a brand new work by Hayek, originally conceived in 1978 as a manifesto for a public debate on the question "Was Socialism a Mistake?"  Socialism, contends Hayek, "is based on demonstrably false premises", and to "follow socialist morality would destroy much of present humankind and impoverish much of the rest".  Moreover, "our civilization depends, not only for its origin but also for its preservation, on ... capitalism".  A fresh and devastating assault on the fatal conceit of socialism.

Hayek, Friedrich A., The Road To Serfdom.  Chicago:  The University of Chicago Press, 1944.  248pp.

In this classic work, Hayek argues that collectivism in any form is incompatible with democracy, and that generally any move towards social planning is a move away from freedom, political and economic.  This is a sharply-penned and memorable defence of individualism and freedom written by a leading economic theorist, a Nobel Prize winner, and major apologist for freedom.

Hayek, Friedrich A., ed., Capitalism and the Historians.  Chicago:  The University of Chicago Press, 1954.  188pp.

In this collection of essays the "anticapitalist bias" of American historians is treated.  Included is an excellent discussion of the standard of living controversy of the Industrial Revolution.  Essays are by Hayek, T.S. Ashton, L.M. Hacker, Bertrand de Jouvenel and W.H. Hutt.  An important set of articles on economic history in general and the Industrial Revolution in particular.

Hazlitt, Henry, The Conquest of Poverty.  New Rochelle, New York:  Arlington House, 1973.  240pp.

This is a major free market approach to the problem of poverty by a learned economic journalist.  Subjects covered include:  poverty in history;  Malthusian economics;  income distribution;  the welfare state;  unionism;  foreign investment versus aid;  private property;  and the cure of poverty.  Hazlitt writes clearly and intelligently.  A helpful, non-technical treatment of a complex subject.

Hazlitt, Henry, Economics In One Easy Lesson.  New York:  Arlington House, 1946, 1979.  218pp.

Perhaps Hazlitt's most famous and important work.  Hazlitt best describes the central thesis of this book:  "The art of economics consists in looking not merely at the immediate but at longer effects of any act or policy;  it consists in tracing the consequences of that policy not merely for one group but for all groups".  Hazlitt has the unique gift of being able to deliver complex and difficult subjects in lucid, easy to understand language.  Must reading for a clear grasp of basic economics.

Hazlitt, Henry, The Failure of the "New Economics".  New York:  D. Van Nostrand, 1959.  458pp.

This book is a major refutation of Keynesian economics.  A detailed and thorough analysis and critique of Keynesian thought.  Topics covered include:  the role of prices and money;  wage-rates;  the "trade cycle";  employment;  interest;  income, savings and investment;  inflation;  and taxation.  Hazlitt shows keen insight and thorough knowledge of the failures of Keynesian economics.

Hazlitt, Henry, The Foundations of Morality.  Los Angeles:  Nash Publishing, 1964.  398pp.

Hazlitt originally wrote this book with the "conviction that modern economics had worked out answers to the problems of individual and social value of which most contemporary moral philosophers still seem quite unaware".  However the book soon expanded into a fully-fledged treatise on moral theory.  While dealing with all aspects of ethical philosophy, this book emphasizes the inter-relatedness of moral values and economic values.  A helpful and insightful volume.

Hazlitt, Henry, The Inflation Crisis and How to Resolve It.  New Rochelle, New York:  Arlington House, 1978.  192pp.

In a readable and informed manner, Hazlitt discusses everything one would want to know about inflation:  what it is;  how it develops;  where it leads to;  and how to overcome it.  Employment, taxation, investment, interest rates, monetary reform and price controls are among the topics covered.  A learned and lucid presentation.

Hazlitt, Henry, Man vs. the Welfare State.  New Rochelle, New York:  Arlington House, 1969.  225pp.

This is a searing indictment of the welfare state in particular, and interventionist economies in general.  The only cure for poverty is production, argues Hazlitt.  This book covers such topics as price controls, tax policy, wage hikes, social security, the corporation, inflation, and foreign aid.  Hazlitt was a leading journalist in the field of economics, and had a column in Newsweek for twenty years.

Hazlitt, Henry, ed., The Critics of Keynesian Economics.  New York:  University Press of America, 1960, 1983.  427pp.

This is a compilation of articles, mainly written in the forties and fifties, which critique Keynes and Keynesian economics.  Over twenty articles are included, penned by such men as Frank Knight, F.A. Hayek, Ludwig von Mises, W.H. Hutt, and Hazlitt himself.  A helpful collection of essays refuting a major economic figure and system.

Hessen, Robert, In Defense of the Corporation.  Stanford, California:  Hoover Institution Press, 1979.  133pp.

In this volume Hessen takes on the critics of the modern corporation, chief among whom is Ralph Nader.  He examines the charges made against corporations -- that they are monopolistic, overcharge customers, victimize shareholders, etc. -- and offers an intellectual and moral defence.  A valuable book on the nature, purpose and benefits of the corporation.  Hessen has taught business for a number of years.

Hessen, Robert, ed., Does Big Business Rule America?:  Critical Commentaries on Charles E. Lindblom's "Politics and Markets".  Washington, DC:  Ethics and Public Policy Center, 1981.  74pp.

In this volume James Q. Wilson, David Stockman, Clarence Brown and four others assess Lindblom's book in particular, and the assault on big business in general.  The authors find many problems with Lindblom's thesis and argumentation, and judge big business to be nowhere near as omnipotent as Lindblom and the liberals make it out to be.  A very good set of essays on an important subject.

Higgs, Robert, Crisis and Leviathan:  Critical Episodes in the Growth of American Government.  New York.  Oxford University Press, 1987.  350pp.

Why has government grown so rapidly in this century?  Answers Higgs, national crises such as wars and depressions have led to major increases in the size and scope of government, with many of the increases remaining after the crises have passed.  This, coupled with ideological shifts which resulted in a growing acceptance of such expansion of powers, has given rise to the current problems of leviathan.  An important economic and historical study by a libertarian, and professor of political economy at Lafayette College.

Himmelfarb, Gertrude, The Idea of Poverty:  England in the Early Industrial Age.  New York:  Vintage Books, 1983.  595pp.

In this important volume Himmelfarb not only discusses the standard-of-living controversy of the Industrial Revolution, but also examines the concept of poverty in general.  The Industrial Revolution was not just a technological revolution, but an intellectual revolution as well.  Some of the thinkers studied include Smith, Burke, Malthus, Carlyle and Engels.  A wide ranging and erudite work.  Himmelfarb teaches history at the City University of New York.

Hore-Lacy, Ian, Creating Common Wealth.  Sutherland, New South Wales:  Albatross Books, 1985.  103pp.

This volume demonstrates how any ethic of wealth distribution must first be preceded by an ethic of wealth production.  The author shows that wealth creation is a morally justifiable and necessary endeavour, and that the free market is the best system for creating wealth.  A good look at economics and ethics from a Christian perspective.

Huntford, Roland, The New Totalitarian.  New York:  Stein and Day, 1971, 1975.  354pp.

Although somewhat outdated, this is still a valuable work on how socialism has nearly destroyed a modern Western nation.  For most of this century Sweden has experimented with "social democracy".  The rise of the corporate state there has resulted in the loss of many personal freedoms;  economic decline;  regimentation;  and harmful social engineering.  Huntford documents the destructive effects of ever-encroaching statism in Sweden, and warns of the dangers socialism poses to democracy.  An illuminating work on the perils of unopposed bureaucracy.  Huntford has been a journalist in Scandinavia for many years.

James, Michael, ed., Restraining Leviathan:  Small Government in Practice.  Sydney:  Centre for Independent Studies, 1987.  352pp.

As the title implies, this symposium explores various avenues for restricting government intervention in economic life.  The strategies discussed include deregulation, privatisation, the elimination of waste and constitutional checks on government size.  Contributors include Peter Saunders, Patrick Minford, Peter Swan, Ian Harper, Keith Trace, Robin O'Hear and Geoffrey Brennan.

James, Michael, ed., The Welfare State:  Foundations and Alternatives.  Sydney:  Centre for Independent Studies, 1989.  257pp.

This book contains the papers presented at two CIS conferences, one held in Wellington, New Zealand, the other in Sydney, Australia, in 1987.  The first part of the book considers the ethics and objectives of "welfare states", and the problems of coercion and unintended consequences.  The second part evaluates American and British experiences of social security.  In the third section, specific areas are examined, including unemployment benefits and support for single parents.  Contributors include Michael James, Charles Murray, David Willetts and Peter Swan.

Kelly, C.R. "Bert", Economics Made Easy.  Melbourne:  Sun Books, 1981.  179pp.

This volume contains articles written by Kelly for different journals and newspapers throughout Australia.  Tariff issues are the main focus of this book, but articles on economics and politics in general are also included.  A good group of writings -- stimulating and informative.  Bert Kelly is a former Member of the Australian Parliament.

Kelly, C.R. "Bert", One More Nail.  Adelaide:  Brolga Books, 1978.  218pp.

This is another collection of newspaper columns penned by Kelly.  Again, most of the articles centre on Kelly's long-standing crusade against tariffs, and the need for tariff reform.  The economic and political aspects of protectionism in general, and tariffs in particular, are discussed with clarity, wit and insight.

Kirzner, Israel M., The Economic Point of View:  An Essay in the History of Economic Thought.  Kansas City:  Sheed and Ward, 1960, 1976.

Kirzner is a leading representative of the Austrian School of economics.  As the subtitle indicates, this volume traces the history and theory of economic thought.  Using von Mises' phraseology, economics is the science of human action.  This volume defines and elaborates on this theme, as it studies various theories and theorists of economic thought.  Of the many books penned by Kirzner, this is one of his most important.

Knight, Frank H., Freedom and Reform:  Essays in Economics and Social Philosophy.  Indianapolis:  Liberty Press, 1947, 1982.  484pp.

Knight was an original member of the "Chicago School" of economics and an avid writer on economic issues, prior to his death in 1972.  This book contains a number of his more important writings on economics and the social sciences.  Topics covered include:  socialism;  democracy;  economics and ethics;  natural law;  freedom and economics;  and economic history.

Krauss, Melvyn B., Development Without Aid:  Growth, Poverty and Government.  New York:  McGraw-Hill, 1983.  208pp.

In this book Krauss argues that the chief obstacle to Third World development is big government.  He demonstrates how unhindered economic competition and emphasis on the private sector result in far better economic growth and development than does foreign aid and redistribution.  Krauss is a Visiting Scholar of the Hoover Institution at Stanford University.

Kristol, Irving, Two Cheers For Capitalism.  New York:  New American Library, 1978, 1979.  253pp.

This book is a collection of some thirty essays, all of which were published elsewhere.  An excellent assessment and vindication of capitalism and its achievements.  Topics covered include:  taxation;  corporations;  the profit motive;  economics and the environment;  social justice;  the welfare state;  and business ethics.  Full of insights and clear thinking.  Kristol is a leading neoconservative, and co-editor of Public Interest.  This book deserves three cheers.

Lambro, Donald, Land of Opportunity:  The Entrepreneurial Spirit In America.  Boston:  Little, Brown and Company, 1986.  176pp.

"At its core Land of Opportunity is an examination of what has occurred in the economy in the 1970s and 1980s to make the American dream a greater reality:  the social, political, attitudinal, educational and legislative changes that have put America back on the road toward increasing economic growth".  Lambro surveys these changes, and illustrates them with portraits of individual entrepreneurial success stories.  Lambro is a nationally syndicated columnist.

Lefever, Ernest W., ed., Will Capitalism Survive?:  A Challenge by Paul Johnson With Twelve Responses.  Washington, DC:  Ethics and Public Policy Center, 1979.  69pp.

Johnson, an English journalist and historian, gives us here a scholarly and spirited defence of capitalism, calling it "the greatest single blessing ever bestowed on humanity".  Will, and should, capitalism survive?  This question is addressed by Johnson and his twelve respondents, who include Michael Novak, Herman Kahn, Jack Kemp and Paul Craig Roberts.  A valuable and stimulating discussion.

Lepage, Henri, Tomorrow, Capitalism:  The Economics of Economic Freedom.  La Salle, Illinois:  Open Court, 1982.  254pp.

Lepage, a French journalist, first wrote this book in 1978.  In it he charts the rise and development of what he terms the "new economics" sweeping America and the West.  The "new economics" is really what is known as the "Chicago School" associated with Frank Knight and Jacob Viner.  He sees its influence spreading through four main channels:  monetarism (Milton Friedman);  human-capital theory (Gary S. Becker);  the property-rights movement (Armen Alchian and Warren Nutter);  and the public-choice school (James Buchanan and Gordon Tullock).  An important, even prophetic, study.

Lindsell, Harold, Free Enterprise:  A Judeo-Christian Defense.  Wheaton, Illinois:  Tyndale House, 1982.  180pp.

In this book, the Editor Emeritus of Christianity Today presents a spirited defence of free enterprise.  Lindsell argues that capitalism is not inimical to biblical principles, and claims that socialism is the greatest threat to freedom and democracy.  Written for the student and layman, this is a helpful justification of the free market system.

McKenzie, Richard B., Bound To Be Free.  Stanford, California:  Hoover Institution Press, 1982.  201pp.

Constitutional restraints on government are needed for the free market to properly function, argues McKenzie.  Our economic problems today are largely due to the lessening of restrictions on government.  Such loss of restrictions encourages businessmen to seek government favours, which in turn hurts consumers and curtails freedom.  McKenzie documents this insidious process, and offers proposals to reverse the trend.  A persuasive and readable volume.

McKenzie, Richard B., Competing Visions:  The Political Conflict Over America's Economic Future.  Washington, DC:  Cato Institute, 1985.  216pp.

With so many voices calling for extended government intervention in the economy, further protectionism, and less deregulation, this book brings a clarion response.  Supported with extensive empirical and conceptual argumentation, McKenzie clearly makes the case for an unfettered market, while arguing against a centralized national industrial policy.  McKenzie is a professor of business and economics, and the author of several books.

McKenzie, Richard B., The Fairness of Markets:  A Search for Justice in a Free Society.  Lexington, Massachusetts:  D.C. Heath and Company, 1987.  235pp.

Not only is free market economics more efficient than its rivals, but it is more fair and just as well.  Most government attempts to promote fairness and social justice in the economic realm -- e.g., minimum wage laws, affirmative action -- have in fact produced the opposite results.  This is the thesis powerfully argued for in this helpful book.  A welcome volume in the growing amount of literature on ethics, economics and public policy.

McKenzie, Richard B., ed., Constitutional Economics:  Containing the Economic Powers of Government.  Lexington, Massachusetts:  Lexington Books, 1984.  254pp.

This book contains essays by economists, philosophers and political scientists on the subject of limiting government powers and authority.  To preserve economic and personal freedom, certain restraints upon government are necessary.  Authors include:  Friedrich A. Hayek, Mancur Olsen, James M. Buchanan and Gordon Tullock.  McKenzie is a Senior Fellow at the Heritage Foundation, and a professor of economics.

Machlup, Fritz, ed., Essays On Hayek.  Hillsdale, Michigan:  Hillsdale College, 1976.  182pp.

These seven essays honour one of the twentieth century's foremost champions of freedom.  Besides making outstanding contributions in the field of economic science (for which he was awarded a Nobel Prize), Hayek has had great influence in a number of other areas:  political philosophy, scientific methodology, legal philosophy, and psychology.  In this volume Machlup, William F. Buckley, George Roche and four others pay tribute to the numerous contributions Hayek made to the cause of freedom.

Malabre, Alfred L., Beyond Our Means:  How America's Long Years of Debt, Deficits and Reckless Borrowing Now Threaten To Overwhelm Us.  New York:  Random House, 1987.  174pp.

The subtitle pretty much says it all.  U.S. debt -- government, corporate, personal -- is over $7 trillion and climbing.  Malabre traces how this came about, what its effects are, and where it will lead.  All in all, not very happy reading.  Or, as one critic put it, Malabre's "sober account of our fiscal and monetery sins ... is scarier than anything by Stephen King".  But necessary reading nonetheless.  Malabre is the economics editor of The Wall Street Journal.

Mises, Ludwig von, The Anti-Capitalistic Mentality.  South Holland, Illinois:  Libertarian Press, 1956, 1981.  134pp.

Von Mises, who died in 1973, was a leading member of the Austrian School of economics and was one of the ablest and most profound economists of this century.  In this book von Mises analyses the anti-capitalist bias inherent in so many of today's intellectual circles.  He also demonstrates how capitalism is the best system for raising the standard of living to unprecedented levels, and the best system for guaranteeing human freedoms.

Mises, Ludwig von, Bureaucracy.  New Haven, Connecticut:  Yale University Press, 1944, 1962.  125pp.

In this small book von Mises analyses the two ways in which social affairs can be conducted peacefully:  by bureaucratic management or by profit management.  He demonstrates the superiority of business management and individualism over bureaucracy and socialism.  A fine vindication of capitalism and a vigorous attack on socialism.

Mises, Ludwig von, Economic Policy:  Thoughts for Today and Tomorrow.  Chicago:  Regnery Gateway, 1979.  106pp.

The six chapters of this book were originally lectures delivered by von Mises to a group of students in Argentina in 1958.  Foreign investment, inflation, interventionism, socialism and capitalism are among the topics covered.  Easier to follow than some of his more theoretical writings, these chapters provide a good introduction to the thought of von Mises.

Mises, Ludwig von, Human Action.  New Haven, Connecticut:  Yale University Press, 1949.  889pp.

This is von Mises' magnum opus.  A mammoth, ambitious, masterful sweep of intellectual ability.  Both a discussion of economic theory, and a general philosophy of social behaviour.  As Murray Rothbard noted, "from now on, little constructive work can be done in economics unless it starts from Human Action".  This is a major assault on leftist economic theory and a monumental case for the free market.  Most modern defenders of capitalism are heavily indebted to von Mises and this work.  This is not light reading, but the efforts made to digest it will be amply rewarding.

Mises, Ludwig von, Liberalism:  A Socio-Economic Exposition.  Kansas City:  Sheed and Ward, 1962, 1978.  207pp.

First published in 1927, this work assesses the tenets of liberalism in its economic policy, foreign policy, and political policy.  This work is both a defence of the free enterprise system, and an exposition of the aims and achievements of classical liberalism.  A meaty and informative book.

Mises, Ludwig von, Omnipotent Government:  The Rise of the Total State and Total War.  New Haven, Connecticut:  Yale University Press, 1944.  291pp.

This is a major treatise combating totalitarianism in all forms.  Four major topics are covered:  German Liberalism's downfall;  nationalism;  German Nazism;  and the future of Western civilization.  Both a defence of freedom and an assault on big government, this is an important, though dated, work by a leading advocate of individual and economic freedom.

Mises, Ludwig von, Planning For Freedom:  And Other Essays and Addresses.  South Holland, Illinois:  Libertarian Press, 1952.  184pp.

This volume contains a number of addresses and essays written by von Mises in the 1940s and 1950s.  They all centre on a defence of the free market, along with an indictment of all forms of socialism and planned economies.  Important reading that is still up-to-date.

Mises, Ludwig von, Socialism:  An Economic and Sociological Analysis.  Indianapolis:  Liberty Classics, 1981.  569pp.

Originally published in German in 1922, this massive work is a classic analysis and critique of socialism.  Several chapter titles indicate the range of this important work:  ownership;  the social order and the family;  the nature of economic activity;  the individual under socialism;  socialism and ethics;  foreign trade under socialism;  and Christianity and socialism.  Von Mises' breadth of interest and depth of knowledge is phenomenal.  Included as an epilogue in this edition is another work published separately, Planned Chaos.  To master von Mises is to master economics.

Murchland, Bernard, The Dream of Christian Socialism:  An Essay on Its European Origins.  Washington, DC:  American Enterprise Institute for Public Policy Research, 1982.  74pp.

This is an historical overview and assessment of Christian socialism in England, France and Germany.  Figures studied include Ludlow, Maurice, Kingsley, Temple, Tawney and Lamennais.  A good survey and critique of a basically romantic, idealistic and utopian movement.

Murray, Charles, In Pursuit of Happiness and Good Government.  New York:  Simon and Schuster, 1988.  341pp.

What do we want government to do?  How do people pursue happiness and how can government help in that pursuit?  Murray answers these questions by appealing to a return to older values of community, local government and self-control.  Massive government programs have failed to solve many of our social problems, and a return to self-help and community help is the best way to go.  A fine blend of political economy, sociology, philosophy, psychology and social policy, this is a creative and insightful volume.

Murray, Charles, Losing Ground:  American Social Policy 1950-1980.  New York:  Basic Books, 1984.  323pp.

This is perhaps the most effective and devastating critique of the welfare state yet written.  Murray argues that American attempts to combat poverty through massive spending programs have not only failed to solve the problem, but have in fact exaggerated it.  Chock-full of charts, statistics, facts and figures, this book demonstrates clearly and empirically the failure of welfarism.  Murray advocates scrapping the entire federal welfare system, but does so by offering alternative proposals.  No person concerned about helping the poor can afford to ignore this book.  Murray is Senior Research Fellow at the Manhattan Institute for Policy Research.

Nash, Ronald H., Freedom, Justice and the State.  Washington, DC:  University Press of America, 1980.  231pp.

This volume examines the place of the state, the role it plays in promoting freedom and justice, and how various economic systems fit in with these considerations.  Nash argues for only minimal state interference in the economy, and for the moral and practical superiority of the free market over planned economies.  Nash teaches philosophy at Western Kentucky University.

Nash, Ronald H., Poverty and Wealth:  The Christian Debate Over Capitalism.  Westchester, Illinois:  Crossway Books, 1986.  219pp.

In this volume Nash continues his argumentation developed in his two earlier works on economics and justice.  Responding to the growing number of Christians who are opting for socialism, Nash argues that wealth must first be created before it can be distributed.  Capitalism is the best system yet devised for the creation of wealth.  Thus those most interested in solving the problems of world poverty should be the first to promote the free market system.

Nash, Ronald H., Social Justice and the Christian Church.  Milford, Michigan:  Mott Media, 1983.  175pp.

This volume deals with the growing debate over the appropriate Christian response to poverty and injustice.  Nash argues that the free enterprise system is the best cure for poverty, the most moral system, and the best guarantee of freedom and civil liberties.  Socialism, contends Nash, is not the biblical ideal;  and it does not provide the answer to the problem of poverty.

North, Gary, An Introduction to Christian Economics.  Nutley, New Jersey:  The Craig Press, 1973.  413pp.

Gary North is a leading figure in the Christian Reconstruction movement, as well as a top-rate economist.  This book attempts to discuss economic theory from biblical presuppositions.  A number of chapters previously appeared in The Freeman.  A wide-ranging book which deals with such topics as:  banking, the gold standard, inflation, the Depression, taxation, and the Christian concept of stewardship.

North, Gary, Honest Money.  Nashville:  Thomas Nelson, 1986.  174pp.

This is the fifth volume in the Biblical Blueprint Series, a conservative Christian approach to major social issues of the day.  In this book North discusses banking, the Federal Reserve System, currency debasing, the origins of money, inflation, and monetary reform.  A helpful volume by an important Christian economist and social thinker.

North, Gary, The Sinai Strategy:  Economics and the Ten Commandments.  Tyler, Texas:  Institute for Christian Economics, 1986.  368pp.

This is the third book in a multi-volume economic commentary on the Bible which North is involved in writing.  This volume is a detailed analysis of the Ten Commandments, with the aim of explicating their economic implications.  North argues that the biblical world view is pro-capitalist and anti-socialist.  An intriguing and revealing study.

Novak, Michael, The American Vision:  An Essay on the Future of Democratic Capitalism.  Washington, DC:  American Enterprise Institute for Public Policy Research, 1978.  60pp.

Perhaps no other intellectual of today has done so much thinking and writing on the moral defence of capitalism as Michael Novak.  A former socialist, and now a leading neoconservative, Novak has produced a steady stream of books vindicating democratic capitalism, as these ten works indicate.  This is one of Novak's earliest books on his innovative concept of the three-part system of democratic capitalism:  a democratic political system, a free market economic system, and a moral/spiritual cultural system.  A seminal work which Novak refines and develops over the years.

Novak, Michael, Freedom With Justice:  Catholic Social Thought and Liberal Institutions.  New York:  Harper and Row, 1984.  253pp.

Novak, a Catholic, has provided a valuable service to Catholic and non-Catholic thinkers alike in this fine survey of Catholic social thought.  General discussions of economics and religion are supplemented with detailed studies of Catholic teachings on wealth and poverty.  Novak shows that basic Catholic concerns for justice, liberty, and community can best be realized through democratic capitalism.  Novak is a resident scholar at the American Enterprise Institute in Washington, DC.

Novak, Michael, The New Consensus on Family and Welfare.  Washington, DC:  American Enterprise Institute for Public Policy Research, 1987.  143pp.

This book is the product of the Working Seminar on Family and American Welfare Policy, sponsored by the Institute for Family Studies of Marquette University.  Members of the seminar include Novak, Richard John Neuhaus, Lawrence Mead, S. Anna Kondratas, and Allan Carlson.  The purpose of the seminar is to find ways of reducing welfare dependency, mainly through emphasis on the ideals of community and self-reliance, the implications of which are spelled out in this volume.

Novak, Michael, The Spirit of Democratic Capitalism.  New York:  Simon and Schuster, 1982.  433pp.

Undoubtedly one of Novak's most important and trenchant works to date, this book is a wealth of information, insight and intellectual analysis.  Novak clearly and learnedly states the moral and philosophical case for capitalism.  He defends capitalism empirically, ideologically, and above all, theologically.  This book is filled with original thinking, penetrating insights, and boldness of approach.  One of the most important vindications of capitalism to appear in years.  An extremely articulate, creative, logical and eloquent defence of democratic capitalism.  Anyone who wants to learn about the ideals of democratic capitalism should start here.

Novak, Michael, Toward a Theology of the Corporation.  Washington, DC:  American Enterprise Institute for Public Policy Research, 1981.  57pp.

These essays, originally delivered as speeches, are an attempt to provide a moral and theological defence of, and a set of guidelines for, the corporation.  Novak argues that the corporation is an expression of our social nature, and is an essential part of capitalism and participatory democracy.  An incisive and fact-filled book, which lays some important groundwork for the subject of corporate ethics.

Novak, Michael, ed., Capitalism and Socialism:  A Theological Inquiry.  Washington, DC:  American Enterprise Institute for Public Policy Research, 1979.  193pp.

This book, and the following two, are the products of seminars sponsored by the American Enterprise Institute and the Syracuse University Department of Religion.  Lectures and discussion highlights are presented here in this notable appraisal of economic systems.  Participants include:  Michael Novak, Irving Kristol, Peter Berger, Ben Wallenberg and Seymour Martin Lipsel.  An informative, stimulating and challenging book.  An important contribution to the growing body of literature on the moral and philosophical foundations of capitalism and socialism.

Novak, Michael, ed., The Corporation:  A Theological Inquiry.  Washington, DC:  American Enterprise Institute for Public Policy Research, 1981.  234pp.

Participants in this seminar include Timothy Smith, P.T. Bauer, Michael Novak and Oscar Handlin.  The subject here is the corporation -- its nature, function, and relation to religious values.  Subjects dealt with include:  corporate responsibility;  the rise of the corporation;  multinationals;  and the corporation and the churches.  A valuable and innovative set of discussions.

Novak, Michael, ed., Democracy and Mediating Structures:  A Theological Inquiry.  Washington, DC:  American Enterprise Institute for Public Policy Research, 1980.  216pp.

In this book institutions like the family, the church, the corporation, and labour unions are examined.  These institutions, or mediating structures, which stand between the individual and the state, are seen as important components of a healthy democracy.  Participants in this symposium include Novak, Paul Johnson, J. Philip Wogaman, and Brigitte Berger.  Another helpful and creative book from Novak and the A.E.I.

Novak, Michael, ed., The Denigration of Capitalism:  Six Points of View.  Washington, DC:  American Enterprise Institute for Public Policy Research, 1979.  64pp.

Is there an anti-capitalist bias in Western intellectual circles?  These six participants -- Martin E. Marty, James V. Schall, Bernard Cooke, David B. Burrell, Edward R. Norman and Michael Novak -- address this question in this brief but informative book.  The general consensus is that such a bias does exist.  The authors examine why this is so, and whether it is a fair or valid position to hold.

Novak, Michael, ed., Toward the Future:  Catholic Social Thought and the US Economy:  A Lay Letter.  New York:  American Catholic Committee, 1984.  106pp.

Although officially authored by the Lay Commission on Catholic Social Teaching and the US Economy, this essay is essentially the product of Michael Novak and William E. Simon.  It is a response to the U.S. Catholic Bishops' Pastoral Letter on the economy, and is a general vindication of capitalism.  It is a spirited attempt to harmonize basic Catholic social concerns with the workings of the free market.  The authors believe that these are much more compatible than is usually suspected.  A valuable justification of the ideals and realities of democratic capitalism, and a reasonable case for its congruity with basic religious values.

Nutter, G. Warren, Political Economy and Freedom:  A Collection of Essays.  Indianapolis:  Liberty Press, 1983.  314pp.

Nutter, who died in 1979, was a professor of economics and a leading authority on the Soviet economy.  This selection of essays deals with:  economics and freedom;  welfarism;  union power;  regulation;  monopoly and big business;  Soviet industry;  Eastern European economies;  and economics and the Third World.  A good set of essays by a leading proponent of economic freedom.

Oden, Thomas C., Conscience and Dividends:  Churches and the Multinationals.  Washington, DC:  Ethics and Public Policy Center, 1985.  169pp.

This book is an important assessment of the corporate-responsibility movement, composed of activist churchmen from mainline Protestant and Catholic denominations.  Oden surveys the history of this movement, and evaluates its understanding of corporations and theology.  He contends that these activists do not represent the average church member;  their allegiance is often more to leftwing causes than to biblical concerns;  and they denigrate the role Christians can play as corporation leaders and workers.  A very well documented and informative book.

Olasky, Marvin, ed., Freedom, Justice and Hope:  Toward a Strategy for the Poor and the Oppressed.  Westchester, Illinois:  Crossway Books, 1988.  171pp.

This book comes as a result of a conference on relief and development held in Villars, Switzerland in the spring of 1987.  Forty evangelicals met for five days and produced a summary, the Villars Statement.  In this book Olasky, Herbert Schlossberg, Pierre Berthoud and Clark Pinnock present essays on the theme of the conference.  They all recognize the failures of liberation theology, social engineering and radical utopianism in these areas, and call instead for biblical and practical solutions.  A brief but helpful volume.

Olson, Mancur, The Logic of Collective Action:  Public Goods and the Theory of Groups.  New York:  Schocken Books, 1971.  184pp.

Combining insights from the social sciences and economics, Olson develops here a novel theory of how individuals and groups operate.  Subjects discussed include:  special interest groups;  Marxist class concepts;  trade unions;  and economic freedom.  An innovative and provocative work.  Olson is Professor of Economics at the University of Maryland.

Opitz, Edmund A., Religion and Capitalism:  Allies, Not Enemies.  New Rochelle, New York:  Arlington House, 1970.  318pp.

In this somewhat disjointed but helpful volume, Opitz argues that Christianity and a free economy are not inimical but compatible.  Christian socialism is not a tautology, argues Opitz, and political and economic freedom -- democracy and capitalism -- are the natural results or expressions of the Christian faith.  Opitz was a Congregationalist minister and has authored numerous works.

Pejovich, Svetozar, Life in the Soviet Union:  A Report Card On Socialism.  Dallas, Texas:  The Fisher Institute, 1979.  101pp.

This slim volume gives a brief survey of Soviet history and politics, and analyses the Soviet economy.  Pejovich clearly demonstrates how the Russian planned economy inevitably results in inefficiency and dwindling productivity.  The only beneficiary of whatever economic productivity does take place is the Soviet ruling elite, not the Soviet people.  A helpful but brief presentation.

Porter, Michael, The Competitive Advantage of Nations.  London:  MacMillan, 1990.  855pp.

The benefits of global competition, innovation and risk-taking are here brilliantly promoted.  Porter, a professor at the Harvard Business school, marshalls a mass of information and detail as he successfully answers the question, "Why do some social groups, economic institutions, and nations advance and prosper?"

Rabushka, Alvin, From Adam Smith to the Wealth of America.  New Brunswick, New Jersey:  Transaction Books, 1985.  237pp.

Focusing on nineteenth century England, modern America, and the miracle economies of southeast Asia, Rabushka shows how the application of Adam Smith's principles have led to economic growth and prosperity.  A helpful history of recent economic development and a forceful defence of the free enterprise system.  Rabushka is a senior fellow of the Hoover Institution at Stanford University.

Rand, Ayn, Capitalism:  The Unknown Ideal.  New York:  Signet Books, 1946, 1967.  349pp.

Ayn Rand's peculiar philosophy, known as Objectivism, was popularized in such novels as We the Living (1936), Anthem (1938), The Fountainhead (1943) and Atlas Shrugged (1957).  In this collection of articles the moral and economic implications of Objectivism are set forth.  Both a defence of laissez-faire capitalism and an attack on altruism, this volume is as provocative as it is original.  Rand, who was born in Russia in 1905, died in New York City in 1982.

Rangel, Carlos, Third World Ideology and Western Reality:  Manufacturing Political Myth.  New Brunswick, New Jersey:  Transaction Books, 1986.  180pp.

"Third Worldism" and dependency theories blame the West for the economic problems of the Third World.  Rangel says the international Left exploits issues of Third World poverty, manipulating guilt-feelings to achieve political benefit.  He offers closer contact with, and imitation of, the West -- and not socialism -- as the real answer to the problems of Third World poverty.  An important critique of dependency theories and the Leftist ideological exploitation of problems of inequality and poverty.  Rangel is a Venezuelan journalist and former diplomat.

Rattigan, Alf, Industry Assistance:  The Inside Story.  Melbourne:  Melbourne University Press, 1986.  289pp.

This volume is about Australian protectionism in general, and Rattigan's attempts to steer Australia away from such protectionism in particular.  Rattigan served as chairman of the Industries Assistance Commission and a number of related posts, and knows from first hand experience the problems of protectionism, tariffs, regulation and bureaucracy as they affect Australian industry.  A detailed look at a specific case of government interference in economic growth by an expert in the field.

Robbins, Lord Lionel, Political Economy:  Past and Present:  A Review of Leading Theories of Economic Policy.  New York:  Columbia University Press, 1976.  203pp.

For many years Robbins was Professor of Economics at the London School of Economics.  This book surveys and assesses past economic theories.  This is a scholary, technical work written by a leading English conservative.  This is not a book for beginning students of economics.

Roberts, Paul Craig, The Supply-Side Revolution:  An Insider's Account of Policymaking in Washington.  Cambridge, Massachusetts:  Harvard University Press, 1984.  327pp.

The political birth of supply-side economics began in 1975 with Jack Kemp and became policy with Ronald Reagan's entry into the White House.  Roberts focuses on this period, describing the personalities, philosophies and policies involved.  An inside look at the politics, economics and legislation of the Reagan Revolution.  An important study by a professor of political economy at Georgetown University, and a former member of the Reagan administration.

Roche, George, America By the Throat:  The Stranglehold of Federal Bureaucracy.  Old Greenwich, Connecticut:  Devin-Adair Publishers, 1983.  190pp.

Dr Roche is President of Hillsdale College in Michigan and the Shavano Institute for National Leadership based in Denver, Colorado.  In this work Roche documents and critiques the ever-growing bureaucracy in America and the West.  He views this growth as an ominous "thrust toward all-powerful central government".  Roche also clearly demonstrates the contrast between bureaucracy and free enterprise.

Rockwell, Llewellyn H., Jr., ed., The Free Market Reader:  Essays in the Economics of Liberty.  Burlingame, California:  The Ludwig von Mises Institute, 1988.  400pp.

These articles, which first appeared in the Ludwig von Mises Institute publication, Free Market, represent some of the best of free market (read:  libertarian) thought.  Many of the heavyweights are here:  Rothbard, Reed, von Mises, Higgs and others.  Topics include Reaganomics, taxation, great economists, protectionism, socialism, the gold standard, and privatization.  A good collection of articles in defence of liberty and the free market.

Rockwell, Llewellyn H., Jr., ed., The Gold Standard:  An Austrian Perspective.  Lexington, Massachusetts:  D.C. Heath and Company, 1985.  147pp.

This book is the result of a conference held in November 1983, sponsored by the Ludwig von Mises Institute.  The authors argue for a return to the gold standard, and appraise alternative monetary reforms from the perspective of the Austrian school of economics.  The contributors are Murray Rothbard, Hans Sennholz, Richard Ebeling, Roger Garrison, Joseph Salerno, Lawrence White, and Ron Paul.

Rogge, Benjamin A., Can Capitalism Survive?  Indianapolis:  Liberty Press, 1979.  329pp.

In this collection of essays Rogge treats a number of subjects, including:  monopolies;  profits;  the case for economic freedom;  the libertarian philosophy;  Adam Smith and his influence;  Christian economics;  and the durability of capitalism.  An interesting set of articles by an articulate and informed writer.  Rogge taught political economy at Wabash College in Indiana for many years.

Ropke, Wilhelm, A Humane Economy:  The Social Framework of the Free Market.  South Bend, Indiana:  Gateway Editions, 1960.  312pp.

First published in German in 1958, this is a spirited defence of the free market and a defence of Christian values.  Ropke argues that the moral and spiritual values of Christianity are the necessary foundation of an ethical and humane market economy.  Like many other conservatives, Ropke recognizes that values such as self-discipline, honesty, community, charity, moderation and fairness are essential prerequisites to the proper workings of competition and the market.  A valuable work of social commentary and economic theory.  Ropke died in 1966.

Rose, Tom, Economics:  Principles and Policy from a Christian Perspective.  Second Edition.  Mercer, Pennsylvania:  American Enterprise Publications, 1986.  380pp.

This is a high school/college level textbook in basic economics, written by an evangelical.  It is a mixture of standard free market economics and Christian social thought.  A helpful introductory text.  Especially valuable in its handling of relevant biblical material.

Rosenberg, Nathan and L.E. Birdzell, Jr., How the West Grew Rich:  The Economic Transformation of the Industrial World.  New York:  Basic Books, 1986.  353pp.

This is a fascinating and lucid account of how economic growth developed since the Middle Ages.  This growth is not the result of exploitation or imperialism, as many argue, but a product of political and religious decentralization and pluralism.  This is an informative and provocative book on economic history and the value of the open market.

Rothbard, Murray N., America's Great Depression.  Kansas City:  Sheed and Ward, 1963, 1975.  361pp.

In this scholarly survey of the years leading up to and including the Great Deprcssion, Rothbard shatters a number of myths concerning this subject, especially the theory that it was the inherent weakness of capitalism that caused the crisis.  On the contrary, it was government induced inflation that brought on the depression.  An important book for anyone interested in an alternative view to the conventional wisdom concerning the Great Depression.  Rothbard is a major proponent of libertarianism.

Rothbard, Murray N., Man, Economy and the State:  A Treatise On Economic Principles.  Los Angeles:  Nash Publishing, 1962, 1970.  987pp.

Origlnally published in two volumes, this massive tome is a wealth of information and learning from a leading libertarian economist.  In a sense this book is an amplification and/or continuation of the work of Ludwig von Mises, to whose Human Action Rothbard is greatly indebted.  A major economic treatise covering just about every aspect of economic thinking.  Certainly not lightweight reading, but rewarding.

Rydenfelt, Sven, A Pattern for Failure:  Socialist Economies in Crisis.  New York:  Harcourt Brace Jovanovich, 1983, 1984.  175pp.

Rydenfelt, a Swedish economist, has put together a detailed look at socialist economies -- Russia, China, Cuba, Tanzania, Poland, Vietnam, and eleven other countries -- and notes how all are doomed to decay and collapse.  Rydenfelt shows in each of these case studies how planned economies necessarily result in stagnation and loss of productivity.  The cure is not more state planning and intervention, but less, says the author.

Schaeffer, Franky, ed., Is Capitalism Christian?  Westchester, Illinois Crossway Books, 1985.  461pp.

This is a very helpful work, in that it draws together in one volume some twenty different articles written by leading economists and Christian thinkers, all of whom argue for the moral and empirical merits of democratic capitalism.  Authors include Peter Berger, Michael Novak, P.T. Bauer, Paul Johnson, Thomas Sowell, Ronald Nash, and Richard John Neuhaus.  A good compilation of some very fine articles.

Schumpeter, Joseph A., Capitalism, Socialism and Democracy.  New York:  Harper and Row, 1942, 1976.  431pp.

Can capitalism survive?  Economically it has been a great success.  But, argues Schumpeter, "its very success undermines the social institutions which protect it".  In the arena of culture, values and ideas, capitalism is under attack.  The masses who have benefited so much from capitalism, neither understand nor appreciate it, and the intellectuals are blatantly hostile to it.  Thus capitalism for all its successes may not long survive.  An important analysis of capitalism and culture.  Schumpeter, who was born in Austria, wrote this book in 1942.  He taught social sciences at Harvard, and died in 1950.

Sennholz, Hans E, Age of Inflation.  Belmont, Massachusetts:  Western Islands, 1979.  207pp.

This is a collection of essays written on the history, meaning and effects of inflation.  Sennholz writes from the perspective of the Austrian School of economics.  Topics covered include:  the value of money;  the causes of inflation;  the Federal Reserve System:  unemployment;  and exchange rates.  A learned and perceptive group of essays.

Sennholz, Hans F., Money and Freedom.  Spring Mills, Pennsylvania:  Libertarian Press, 1985.  88pp.

Sennholz, a professor of economics, teaches at Grove City College in Pennsylvania.  This book discusses the loss of freedom in banking, monetary affairs and the economy.  Sennholz argues that the cure for our economic problems is less government interference, not more.  He discusses the Federal Reserve System;  legal tender laws;  the gold standard;  the trade deficit;  and inflation.  An important eall for monetary and economic freedom by a leading economist.

Shann, Edward, An Economic History of Australia, Cambridge:  (Cambridge University Press, 1930.  456pp.

The number of volumes on economics, economic history and political economy not written from a Keynesian perspective are few indeed.  Here is one volume, however, which gives an important review and assessment of Australian economic development from a non-Keynesian, free-market approach.  Although written way back in 1930, this volume is an excellent source book on how so many of modern-day Australia's economic problems -- protectionism, poor productivity, labour strife -- have developed.  The author was Professor of History and Economics at the University of Western Australia.

Sheaffer, Robert, Resentment Against Achievement:  Understanding the Assault Upon Ability.  Buffalo, New York:  Prometheus Books, 1988.  198pp.

Says Sheaffer, "Throughout recorded history the ebb and flow of the love of achievement and the resentment against its successes have been major forces behind the rise and fall of civilizations and empires".  When envy and resentment prevail, economic and social progress come to a standstill.  But when values of achievement such as tolerance, liberty and hard work are predominant, civilizations will grow and flourish.  Sheaffer develops this theme in chapters on education, the arts, sciences, economics and politics.  An ambitious if overstated defence of economic and political freedom from a decidely libertarian perspective.

Simon, William E., A Time For Action.  New York:  A Reader's Digest/Berkley Book, 1980.  151pp.

In this follow-up volume to A Time For Truth, Simon continues his analysis of the erosion of economic freedom in America, and offers a blueprint for its restoration.  A brief but stimulating volume.

Simon, William E., A Time For Truth.  New York:  Reader's Digest/McGraw-Hill Company, 1978.  248pp.

Simon, who served as Secretary of the Treasury from 1974 to 1977, describes in this volume the necessary connection between political and economic freedom.  Drawing upon his experience in the Ford and Nixon Administrations, the author warns of the dangers of the expanding American bureaucracy, and shows how that trend can be reversed.

Smith, Adam, An Inquiry Into the Nature and Causes of the Wealth of Nations.  Edwin Canaan, ed. New York:  Modern Library, 1937, 1965.  976pp.

I could not omit this classic.  The Wealth of Nations, first published in 1776, has changed economic thinking markedly, and has made an impact on modern society in untold ways.  The first great treatise on the value of the market place, and the ability of individuals pursuing their own self-interest to create wealth and transform society.  Smith was born in Scotland, taught moral philosophy, and died in 1790.  This edition is edited and annotated by Edwin Canaan.

Soto, Hernando de, The Other Path:  The Invisible Revolution in the Third World.  New York:  Harper and Row, 1989.  271pp.

De Soto, a Peruvian economist, has written a very important book.  Already a best-seller throughout Latin America, this volume shows how mercantilism is the dominant economic system of underdeveloped countries.  Using Lima, Peru as a case study, de Soto shows how such mercantilism favours the state and special-interest groups while neglecting the majority, with black-marketeering as the inevitable result.  Such non-democratic, bureaucratized, parasitic regimes are the real reason why Third World nations remain impoverished and backward, not because of Western imperialism.  Richly documented and argued.  A brilliant appeal to political and economic freedom.

Sowell, Thomas, The Economics and Politics of Race.  New York:  William Morrow, 1983.  324pp.

Sowell analyses race and ethnicity in an international framework in this ground-breaking work.  This book looks at European immigrants, overseas Chinese, and blacks and coloureds from a historical and sociological perspective.  He shows that cultural patterns have much to do with economic performance.  He also examines Third World development, colonialism and imperialism, exploding numerous myths along the way.  A very helpful and provocative study by a leading economist and student of ethnic relations.

Sowell, Thomas, Ethnic America:  A History.  New York:  Basic Books, 1981.  353pp.

Sowell examines nine ethnic groups residing in America and discusses the different ways these groups have related and adjusted to the American experience.  Why these ethnic groups have developed as they have is the subject of this important work.  Sowell has established himself as a leading authority on the relationships between race, culture, and economic achievement.

Sowell, Thomas, Knowledge and Decisions.  New York:  Basic Books, 1980.  422pp.

Pollowing in the steps of von Mises and Hayek, this volume is an incisive treatise on economic theory and social philosophy.  Sowell demonstrates the importance of knowledge in decision-making, and the role it plays in political, economic and legal relations.  This is perhaps the most creative and important work of all Sowell's writings.  A wide-ranging and lucid book.

Sowell, Thomas, Markets and Minorities.  New York:  Basic Books, 1981.  141pp.

This is another important study on the relationship between economic performance and racial and cultural differences.  Sowell demonstrates that attitudes, culture, values and religion play as important a role in economic achievement as do racism and discrimination -- perhaps even more so.  Again, creative analysis and substantial documentation are united to produce a learned and stimulating work.  Reading Sowell is both educational and refreshing.

Sowell, Thomas, Marxism:  Philosophy and Economics.  New York:  William Morrow, 1985.  281pp.

This is a major new analysis of Marxist philosophy and economic thought.  Sowell explains and assesses the basic tenets of Marx's thinking, and critiques many current interpretations of Marxism.  The exposition of Marx is clear and easy-to-understand, and his critiques are especially incisive and penetrating.  An excellent primer on Marxism written by an author who thinks and writes with refreshing clarity.

Sowell, Thomas, Pink and Brown People:  And Other Controversial Essays.  Stanford, California:  Hoover Institution Press, 1981.  150pp.

This is a collection of some of Sowell's earlier (1978-1980) newspaper columns.  Subjects covered include:  the Bakke case;  the ERA;  SALT;  environmentalism;  rent control;  abortion;  and foreign aid.  An interesting set of essays by a perceptive economist and social critic.

Sowell, Thomas, Race and Economics.  New York:  David McKay Company, 1975.  276pp.

Another volume on the interrelationships between economics, ethnicity and race.  Full of compelling and fact-based reasoning on a subject much clouded by ignorance, misunderstanding and emotionalism.  The importance of attitude in economic achievement is again underscored and empirically attested.  Sowell is impressive and convincing as usual.

Stigler, George J., The Citizen and the State:  Essays on Regulation.  Chicago:  University of Chicago Press, 1975.  209pp.

This is a collection of essays all centring on the theme of the importance of minimizing the role of government involvement in economic affairs.  Topics covered include:  the nature of economic freedom;  the costs of regulation;  special interests versus public interests;  and welfarism.  An informed and witty set of writings.  Stigler teaches economics at the University of Chicago.

Stigler, George J., The Economist as Preacher, and Other Essays.  Chicago:  The University of Chicago Press, 1982.  259pp.

Stigler, who received the Nobel Prize in Economics in 1982, has written over one hundred books, pamphlets and articles on economic themes.  In this collection of essays Stigler examines the history of economics, showing how and how much economists influence the devising and execution of public policy.  He also studies the relationship between economics and ethics.  Learned and insightful reading.

Tucker, Robert W., The Inequality of Nations.  New York:  Basic Books, 1977.  214pp.

This book is a discussion of international relations in general, and of proposals for a new international economic system.  Tucker argues that any enforced redistribution of the world's goods would not only fail to create more justice in the world, but would result in wide-scale violence and disorder.

Tullock, Gordon, Private Wants, Public Means:  An Economic Analysis of the Desirable Scope of Government.  New York:  Basic Books, 1970.  262pp.

Is government alone able to deal with the public interest?  To what extent should it intervene in individuals' lives to obtain the public good?  Can the market provide some of these goods and services?  Tullock here seeks to provide objective criteria whereby such questions can be answered.  Using examples of zoning regulations, income distribution, property rights and crime control, Tullock demonstrates how often the free market and voluntary associations, rather than government intervention, can best deal with many of today's social problems.  Tullock, along with James M. Buchanan, is a leading "Public Choice" economist.

Tullock, Gordon, Welfare for the Well-To-Do.  Dallas:  The Fisher Institute, 1983.  72pp.

In this slender volume, designed for the general reader, Tullock examines income redistribution in America.  His thesis is that it is not the poor who benefit from such redistribution, but middle class special interest groups.  Monies are basically passed around within the middle class, with the poor receiving very little of them.  A helpful volume on the follies of American welfarism.  Tullock is a professor at George Mason University.

Tyrrell, R. Emmett Jr., ed., The Future That Doesnt Work:  Social Democracy's Failures in Britain.  New York:  Doubleday and Company, 1975, 1976, 1977.  208pp.

This volume contains a number of essays on pre-Thatcher England.  The authors document and illustrate the shortcomings of welfarism in England, and provide warnings for America to not follow suit.  Contributors include Irving Kristol, James Q. Wilson, Peregrine Worsthorne and Colin Welch.  A fine, but dated assault on England's experiments in economic planning and their disastrous results.

Van den Haag, Ernest, Capitalism:  Sources of Hostility.  New Rochelle, New York:  Epoch Books, 1979.  206pp.

In this volume Van den Haag, Peter Bauer, Nathan Glazer, Dale Vree and three other authors look at those who are enamoured with socialism and appalled by the free market.  Instead of looking at the economic factors, these authors analyse the psychological and social objections raised against capitalism.  A good defence of free enterprise and a helpful examination of its critics and critiques.

Veljanoviski, Cento, ed., Privatisation and Competition:  A Market Prospectus.  London:  Institute of Economic Affairs, 1989.  239pp.

Under the Thatcher Government, privatization of the nationalized industries has been a major priority.  While largely a successful endeavour, there have been some deficiencies.  This collection of essays explores "the most profound weakness of the British privatization program -- the failure to maximize the opportunities to introduce competition in those industries which were the heartland of the nationalized sector -- telecommunications, gas, electricity, water and coal".  Veljanoviski, Irwin Stelzer, Ray Evans, Jack Wiseman and 12 other writers made contributions to this collection.

Wagner, G.A., Business in the Public Eye.  Grand Rapids:  William B. Eerdmans, 1982.  125pp.

In this helpful little volume Wagner discusses ethical principles which must govern big business and individual businessmen.  Topics covered include:  multinationals;  profit accountability;  transnational business relations;  business and the environment;  and the management of business.  Wagner, who is Chairman of the Board of Royal Dutch Shell, uses Shell as an example in much of his discussion.  A good defence of business which recognizes the need of ethical accountability.

Wanniski, Jude, The Way the World Works.  New York:  Simon and Schuster, 1978, 1983.  345pp.

This is one of the clearest and most comprehensible expositions of supply-side economics to be written.  A major theme is that lower tax rates are the key to economic productivity.  This book is at once a history of economic theory, an analysis of Reaganomics, and a defence of the free market.  A helpful and stimulating book.  Wanniski is a leading thinker and writer in supply-side economics.

Weaver, Paul H., The Suicidal Corporation:  How Big Business Fails America.  New York:  Simon and Schuster, 1988.  270pp.

Most of the problems affecting big business in America are self-made, argues Weaver.  Corporations themselves are largely responsible for the lack of competitiveness in American industry.  This is because while they preach free enterprise they practice big government, to their own detriment.  Drawing upon his own experience with Ford Motors, Weaver traces the history of the corporate state, and proposes an agenda for change.  An important volume.  Weaver, a neo-conservative turned libertarian, is a Media Fellow at the Hoover Institution.

West, E.G., Adam Smith:  The Man and His Works.  Indianapolis, Indiana:  Liberty Press, 1976.  254pp.

This volume provides a good introduction to the life and thought of Adam Smith.  Biographical elements are combined with political and economic analyses.  Special attention is paid to his The Wealth of Nations -- its background, philosophy, impact and importance.  A helpful look at one of the most influential figures in modern history.  Dr West currently teaches economics at Carleton University in Canada.

Wiegard, G. Carl, ed., Inflation and Unemployment.  Old Greenwich, Connecticut:  Devin-Adair, 1980.  190pp.

In this book 12 American economists look at the issues of inflation, unemployment, Keynesianism, profits, minimum wages, unions, the gold standard, welfare, and related topics.  Contributors include Henry Hazlitt, Hans Sennholz, John Chamberlain, and Patrick Boarman.  An excellent set of essays on the politics and economics of unemployment and inflation.

Williams, Walter E., All It Takes Is Guts:  A Minority View.  Washington, DC:  Regnery Books, 1987.  189pp.

Newspaper columns written by Williams from 1982 to 1987 are the basis of this book.  Williams comments on such issues as:  the Catholic Bishops' social and economic pronouncements;  protectionist legislation;  the quota system;  sanctions and South Africa;  tax reform;  social justice;  race and economics;  and Constitutional reform.  A good set of incisive, scholarly and biting essays.

Williams, Walter E., America:  A Minority Viewpoint.  Stanford, California:  Hoover Institution Press, 1982.  183pp.

This book contains columns written by Walters from 1977 to 1982.  In it are covered topics like affirmative action, labour unions, taxation, law and the courts, public education, housing for the poor, social security, racism, regulation and human rights.  A good collection of articles written by a black economics professor at George Mason University.

Williams, Walter E., The State Against Blacks.  New York:  McGraw-Hill Book Company, 1982.  183pp.

In this volume Williams demonstrates that discrimination is not a sufficient explanation of the lower standard of living for blacks.  Instead, government interference and economic regulation -- e.g., minimum wage laws -- are the chief obstacles to black economic development.  A forceful critique of government intervention and a much needed defence of the free market.  Rich in documentation and information.

Wright, David McCord, The Trouble With Marx.  New Rochelle, New York:  Arlington House, 1967.  192pp.

This is a clear discussion of the Marxist system, and a critique of its many errors.  Wright has a solid grasp of Marxian thinking, and he makes it accessible and intelligible to the average reader.  Wright points out the many flaws of Marxism and also examines the free market system.  Seeking to be objective and balanced in his approach, Wright shows the superiorities of capitalism over Marxism, although not ignorant of some of the weaknesses of capitalism.  Wright has written a number of books on economics.