(Prepared by Thomas E. Woods, Jr.)
A
Abortion, 148ff., 412-13
Abscam, 177
Absolutism, 345
Accountants, 216
ACT-UP, 365
Adams, Ted, 318
Affirmative action, 118, 363, 416
Affluent Society, The, 145, 202
AFL-CIO, 134
Africa, 89, 150
Afrikaners, 374
Agricultural Labor Relations Act (California), 140
Agriculture, 85, 90-91, 109-10
Air conditioning, 100
Air traffic controllers, 187
Airline Deregulation Act, 187
Airlines, 29, 187ff.
Airports, 187ff.
Albania, 356
Alexander, Lamar, 83
Alexis de Tocqueville Institution, 407
Alinsky, Saul, 140
Allen, George, 160
Altman, Roger, 118
Aluminum industry, 121
American Civil Liberties Union (ACLU), 146
American Eagle (coin), 298
American Enterprise Institute, 407
American Legion, 114
American Medical Association, 80
American Revolution, 158
"American System," 184ff.
Americans with Disabilities Act, 304, 360
Amin, Idi, 212
Andrews, William H., 374
Angell, Wayne, 335ff.
Angola, 321
Appalachia, 71
Aquaculture, 91-92
Arabian Peninsula, 325
Aramco, 328ff.
ARCO, 323
Arizona, 212
Army, U.S., 125, 166, 329
Asia, 89, 150, 276
Asian Law Caucus, 341
Assad, Hafez, 327
Associated Press, 420
Auburn University, 386
Auschwitz, 184
Austrian Economics Newsletter, 386
Austrian Institute for Business Cycle Research, 376
Austrian School, 40, 42, 161, 245
business cycle theory of, 175, 275, 376
definition of money supply held by, 290
Ludwig Lachmann as nominal member, 376
on deflation, 333
on inflation, 288
on mathematical economics, 37
on taxation, 225, 236
policy during recession, 174
praxeology as method of, 388
promoted by Mises Institute, 384ff.
renaissance of, 378
Reagan administration and, 120
Review of Austrian Economics and, 385
statistical analysis and, 233
W. H. Hutt as sympathizer, 376
Automobiles, 195ff.
Away From Freedom, 380
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B Babbitt, Bruce, 212ff.
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C Cable television, 126
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D Daley, Richard, 70
E Eastern Airlines, 188
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Education, 83, 119 Department of, 110, 364 egalitarianism and, 155 in suburbs, 155 private, 146, 156 public, 146, 153ff., 366 vouchers, 153ff., 366 Edwards Aquifer, 92 Efron, Bradley, 39 Egalitarianism education and, 155 insider trading regulations and, 182 public transportation and, 211 taxation and, 219 universal health care and, 129, 130 Eisenhower Administration, 33, 117, 398, 399 on Bricker Amendment, 309 Eisner, Michael, 161 Election of 1988, 30, 39, 108ff. of 1992, 105, 212, 403-4 of 1994, 15, 361, 393-421 Empower America, 414 Endangered Species Act, 93-94 Energy, Department of, 364 England, 150, 215, 315, 377 Enterprise zones, 71, 84 Entrepreneur, 76, 178, 181, 247 macro function of, 238 Environmentalism, environmentalists, 118, 160 free-market solutions, 90-101 gill netting and, 341 NAFTA and, 309 on the automobile, 196 Erhard, Ludwig, 354 Estonia, 346, 348 Ethiopia, 88 Europe, 202, 222, 254, 273, 305, 398 Eastern, 346-58 Western, 150, 183, 210, 255 European Central Bank, 221ff., 262-63 Currency System, 262 currency unit, 110, 221ff., 262-63, 272 Economic Community, 222, 272, 304, 308 Exchange rates, 110 fixed, 43, 44, 255ff., 266ff., 272 fluctuating, 256-57, 267ff., 272 Gresham's Law and, 269 NAFTA and, 270 under gold standard, 253, 268 Export-Import Bank, 328 Exports, 257, 269, 305, 308, 312 Ezell, Harold, 406 |
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Fabians, 148 Factory Acts (Britain), 374 Fair Deal, 82 Famine, 87ff. Farm workers, 139ff. Farmers, 85ff., 93, 109 Federal Aviation Agency, 187ff. Federal Communications Commission, 126 Federal Deposit Insurance Corporation, 248, 276ff., 281ff., 285, 297 Federal Emergency Management Agency, 95 Federal Home Loan Banks, 285 Federal Home Loan Board, 285 Federal Reserve Act, 274 Federal Reserve System, 50, 107, 109, 241, 257, 260, 278, 285, 417 abolition contemplated, 283, 300 as cartel, 186, 297 Contract with America and, 364 inflation and, 20, 168, 282, 287 interest rates and, 22-23, 42ff., 165, 174, 289 monopoly of note issue of, 299 1988 crash and, 174ff. propping up dollar, 270 "pushing on a string," 247-48 response to recession, 242ff. Federal Savings and Loan Insurance Corporation, 277, 280, 281ff., 285 Federalists, 159 Feigenbaum's Number, 36 Feminism, 17-18 Ferguson, Adam, 40, 42 Fertig, Bertha, 383 Fertig, Larry, 383 Feudalism, 345 Finn, Chester, 83 First Amendment, 114ff., 182 Fish, Lawrence K., 277 Fisher, Irving, 48, 107, 234, 237 Flag, U.S., 114ff. Flew, Antony, 330 Flexner, Abraham, 80 Flexner Report, 80 Flexner, Simon, 80 Foley, Thomas, 418 Foner, Eric, 162 Foner, Philip S., 162 Food and Drug Administration, 196 Ford, Gerald, 117, 294 Forecasting, 23-24, 31-32 Foreign aid, 417 as subsidy to export firms, 305, 308, 312 Contract with America on, 363 directed against Communism, 305 Foreign policy, 417 Contract with America on, 364 Forman, Eric, 87 [p. 430] Fort Knox, 299, 300 Foundation for Economic Education, 380 Franc, 260ff. France, 89, 166, 260ff., 265, 273 Francis, Samuel, 412 Frankfurter, Felix, 138 Free Man's Library, The, 373 Free Market, The, 84, 108, 132, 386 Free Markets or Famine?, 381 Free speech, 114ff., 146, 182, 195, 412 French Revolution, 123, 139 Friedman, Benjamin, 202 Friedman, Jerome H., 40 Friedman, Milton, 48 on "crowding out" effect, 21 on government spending, 366 Friedmanites, See Monetarism From, A1, 364 Fujimori, Alberto, 332ff. Fur Workers Union, 162 |
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Galbraith, John Kenneth, 145, 176, 177, 202, 203, 266 Garcia, Hector, 332 Garrett, Garet, 388 Gasoline, 195 conservation of, 209 price of, 209, 322 taxation of, 27, 208ff., 328 Gebert, Kostek, 352 General Electric, 359 General Theory, The, 48, 376, 377 Georgia, 158 Georgia State University, 289 Gerawan, Dan, 87 Gerawan Farming, 86-87 Germany, 35, 260, 270, 280, 292 Gingrich, Newt, 18, 237, 362ff., 414ff. Glasnost, 346, 348 Global Agreement on Tariffs and Trade (GATT), 364, 411-12, 417, 418 Goering, Hermann, 120 Gold coins, minting of, 298 coins, confiscation of, 298, 299 James Baker on, 266 mining of, in South Africa, 318 Treasury pricing of, 299 Gold standard, 44, 110, 264 absence of inflation under, 167, 257 as only sound monetary system, 253 during Civil War, 185 exchange rates under, 253, 268 prices under, 237 recommended for Soviet Union, 335ff. Goldman Sachs International, 118, 182, 270 Goldwater, Barry, 399 Gorbachev, Mikhail, 240, 241, 337ff. Gore, Albert, 94, 364 Gordon, David, 411 Gosbank (Soviet Union), 335ff. Government partnerships with business, 183ff. Graham, George, 66 Gramm-Rudman Deficit Reduction Act, 74, 113, 287 Grapes boycott of, 140ff., 319 Grayson, C. Jackson, 126 Great Britain, 89, 158, 166, 170, 184, 217ff., 220ff., 258, 260, 263ff., 265, 273 Great Society, 70, 82 Greenbacks, 315 Greenspan, Alan, 72, 74-75, 107, 109, 117, 174, 176, 289, 293ff., 297 Gresham's Law, 258, 259, 264, 267, 269 Gross National Product, 231 Group of Seven, 265-66 Gulag, 347 Gulf Oil, 329 Gun control, 15, 151ff., 363, 416 Gutfreund, John, 168 Gyoten, Toyo, 259 |
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Haloid Co., 193 Hamilton, Alexander, 157ff. Harding, Harry, 357 Harper's, 405 Harvard University, 61, 117, 202, 380 Hayashi, Dennis W., 341 Hayek, F.A., 40, 42, 349, 374, 376ff., 383, 387 Hazlitt, Frances, 383 Hazlitt, Henry, 365, 373, 383 Head Start, 60 Health and Human Services, Department of, 63, 64 Health care, 30, 62, 78ff., 126, 127ff. tax deductions for, 215, 366 see also Medicine Helms, Jesse, 364 Heritage Foundation, 403, 407 Hicks, John R., 377 Highways, 210, 360 Hilary, Sir Edmond, 296 Himmler, Heinrich, 120 Hirst, Francis W., 373 History, 161 HMO (Health Maintenance Organization), 129 Hoffman, Matt, 311 Holland, 150 Homeless, 30, 67ff., 135, 195, 205 Homestead strike, 136 Hong Kong, 149, 172 [p. 431] Hoover, Herbert, 105, 174, 359 Hopkins, Harry, 84 Hoppe, Hans-Hermann, 132 Hormats, Robert D., 270 Hotelling, Harold, 38 Housing, 30, 60, 107, 292 public, 62, 68, 71, 83-84, 195 Housing and Urban Development, Department of, 195 Human capital, 119 Hungary, 346, 348, 357 Hurricane Hazel, 97 Hurricane Hugo, 95ff. Hutt, W. H., 52, 373ff. Hyperinflation in Asia, 276 in Brazil, 167, 239 in Germany, 35, 280, 292 in Latin America, 276 in Peru, 332 in Poland, 167 in Russia, 167 in Third World, 107, 336 under world paper currency, 254, 273 IBM, 193 Ibn Saud, 328ff. Idaho, 91 Immigration, 15 Contract with America and, 363 of Vietnamese, 340ff. proposition 187 and, 406ff. Imperialism, 89 Imports, 28-29, 109, 257, 266, 269, 276 Incas, 334 Income, 17 India, 327 Industrial policy, 118 Industrial Revolution, 25, 238, 345, 374 Infant mortality, 64ff. Inflation, 15, 21-22, 53, 165, 168, 220, 235, 247, 269, 279, 285ff., 288ff., 290ff., 416-17 absence of, under gold standard, 167, 257 as counterfeiting, 274 as wealth redistribution, 274 as taxation, 274 benefits to government of, 262 as central to Keynesianism, 241 bank run as check on, 282 business cycle and, 107, 175, 189, 290 confusion regarding, 354 considered an antidote for recession, 174 during nineteenth century, 185, 315 during Reagan administration, 174, 273ff. during war, 25-26 exchange rates and, 256-57 expectations of, 23, 44, 276 Federal Reserve as cause of, 297 in Brazil, 237, 239 in China, 123 in France, 273 in Germany, 263 in Great Britain, 219 in Italy, 273 in Japan, 266 in Mexico, 270 in Soviet Union, 237, 336 in West Germany, 266, 273 interest rates and, 42ff., 276, 289 premium, 23, 44 price controls viewed as antidote for, 124ff. purchasing power and, 261 unemployment trade-off, 24-25, 167, 176 world coordination of, 110, 222, 254, 258-59, 264, 266-67, 305, 312 see also Hyperinflation Inflationary recession, 51, 167, 176, 220-21, 234ff., 246, 291 "Information superhighway," 18 Insider trading, 109, 180ff., 358 Institute of Economic Affairs (London), 220, 374 Institutional Revolutionary Party, (Mexico), 310 Insurance, 75ff., 284 deposit, 248 health, 128 Intellectuals government and, 402 war and, 359 see also Conservatives; Liberals Interest rates, 42ff. effects of deficit on, 20-21 during Reagan administration, 175, 276 effects of credit expansion on, 168 Federal Reserve and, 165, 174 in Japan, 266 in West Germany, 266 inflation and, 276, 289 inflation premium on, 23, 44 long-term, 165 of S&Ls, 286 short-term, 165, 168 Interior, Department of (South Africa), 375 Internal Revenue Service, 223 privatization contemplated, 184, 368 International Monetary Fund, 266, 272, 363 International Trade Commission, 315 Inventory, 246 Investment, 120ff., 243 business cycles and, 44, 52, 168, 174, 175, 275 "crowding out" of, 20-21, 122, 170 [p. 432] effects of taxation on, 215 foreign, 357 government spending equated with, 118-19, 122, 203 in United States, 45ff. in Third World, 150 Iowa, 212 Iran, 327 Iraq, 322ff., 325ff. IRAs, 47 Iron protectionism and, 314 Israel, 327 Italy, 265, 273 Izvestia, 335 |
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Jackson, Andrew, 359, 413 Jackson, Jesse, 365 Jacobins, 139 Jamaica, 66 Japan, 193, 259, 265, 270 central banking in, 222, 272 infant mortality in, 65 saving in, 45-46 U.S. trade with, 109, 303, 306ff. Japanese in Peru, 333-34 Jarai, Szigmond, 358 Jaruzelski, Wojciech, 348 Jefferson, Thomas, 54, 159, 170 Job training, 60 Johannesburg Stock Exchange, 322 Johns Hopkins Medical School, 66 Johnson, Lyndon, 398, 399 Johnson, Skip, 98 Jones Act, 340 Jones, John W., 93 Jordan, Jerry, 267 Joseph, Keith, 144 Journal of Political Economy, 233 J. P. Morgan & Co., 295 Jubail, 329 Justice, Department of, 179 Kahn, Alfred E., 187 Kaldor, Nicholas, 377 Kantor, Mickey, 309 Kashmir, 327 Katuna, Michael, 97 Kauffman, Bill, 201 Kemp, Jack, 257, 266, 407-8, 414 on foreign aid, 306 on housing, 84 on Los Angeles riots, 71 Kennedy, Edward, 132 Kennedy, Robert, 139 Kentucky, 158, 159 Kessler, David, 196 Keynes, John Maynard, 48, 241 Hayek on, 377 misrepresentation of J. B. Say, 376 on world currency, 110, 259, 271 Keynesian Episode, A Reassessment, The, 375 Keynesianism, 24-25, 34, 51-56, 167, 176, 293, 305 "acceleration principle" of, 375 as rationalization for statism, 377 during Bush administration, 108, 120 economic "fine-tuning" and, 234ff. idle resources and, 375 NAFTA and, 311 Nobel Prize and, 387 on deficits, 49, 54ff., 84, 241 on deflation, 237 on "excess capacity," 51 on inflation, 51, 117-18, 271ff. on recession, 53ff., 121-22, 174, 241 on taxation, 117-18, 173, 225, 243 on unemployment, 51-52 W. H. Hutt on, 374ff. world paper currency and, 110, 222, 253, 259, 262-63, 267, 271ff., 312 Keynesianism, Retrospect and Prospect, 375 KGB, 348 Kidder Peabody, 182 Kissinger, Henry, 311 Klaus, Vaclav, 396 Knight, Frank, 48 Koch, Edward, 100 Kondratieff cycle, 249 Korean War, 359, 360 Koreans, 71 Kourouma, Michelle, 318 Kozuki, Tad, 86 Kristol, Irving, 83, 408 Kristol, William, 408, 414 Krona, 260 Krugerrands, 298, 317ff. Kuwait, 322ff., 325ff., 329 |
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Labor, 28 demand for, 133, 149 Philip Foner as historian of, 162 Labour Party (Britain), 217, 220, 221 Lachmann, Ludwig, 117, 376 Laffer, Arthur, 27-28 Laffer curve, 27-28, 49, 50 Lange, Oskar, 306 Lasch, Christopher, 405 Latin America, 276 Lauter, David, 131 Law of the Sea Treaty, 92 Lawyers, 76-77, 216 Layton, Christine, 65 Lazard Freres, 118 Lenin, V. I., 123, 244, 350, 361 Lennon, Gered, 97 [p. 433] Lerner, Abba, 377 Liberalism, 81-82, 145-46, 148, 153, 178, 204-05, 211, 409 classical, 345 Libertarian Party (California), 407 Libertarians, 380 in Poland, 331 left-, 71, 161 on education vouchers, 128, 153ff. on privatization, 145ff., 368 on Proposition 187, 407 Libraries, 146-47 Licenses, 71 for diamond mining, 320 gun, 151ff. medical, 80-81 Lieberman, Joseph, 323 Lima, 334 Limbaugh, Rush, 15 Lincoln, Abraham, 162, 184-85 Line-item veto, 364 Lobbying, 67, 195 Locke, John, 379 London School of Economics, 373, 376ff. Lorenz, Edward, 36 Los Angeles, 69ff., 84 Los Angeles Times, 131, 311, 407 Louvre agreement, 44 Lucas, David, 98 Ludwig von Mises Institute, 132, 384ff., 396, 407, 411, 412, 419ff. Maastricht Treaty, 262, 308, 310 Maltsev, Yuri, 64, 396 Manassas, 160, 162 Mandelbroit, Benoit, 36 Manitoba, University of, 380 Maoism, 332 Mao Tse Tung, 350 Mark, 260, 262, 270 Marshall, Alfred, 48 Marshall, John, 413 Marshall Plan, 417 Martino, Giulio, 289 Marx, Karl, 48, 244, 350 Marxism, 88, 123, 162, 351 Austrian economics and, 389 in Poland, 331 in Soviet Union, 334 Maryland, 158, 277 Mathematics, 35ff., 38ff. Matthews, J.B., 383 Matthews, Ruth, 383 Maxwell, Robert, 135 McCarthy, Joseph, 216 McDonald's, 151 Means, Gardiner, 178-79 Measuring Business Cycles, 233 Media, 403 economic views of, 176 framing of issues by, 29ff. on Bruce Babbitt, 212 on election of 1994, 361 on gasoline tax, 210 on NAFTA, 311 on Proposition 187, 407 Medicaid, 60, 78 Medicare, 78-79, 415 Medicine socialized, 30, 119, 220 see also Health care Mello, Fernando Collor de, 239, 333 Mencken, H. L., 50 Mendelsohn, Robert, 39 Mercantilism, 183, 345 GATT as, 411, 418 NAFTA as, 307 protectionism as, 303 Meteorology, 35-36 Mexico, 408 inflation in, 270 migrant farm workers from, 141 NAFTA lobbying in U.S., 309 oil and, 310 U.S. trade with, 304, 314 Milken, Michael R., 105-06, 176ff. Miller, John J., 155 Minneapolis, 297 Mises, Ludwig von as model for Mises Institute, 385ff. as predictor of Depression, 377 as systematic, 379 influence on F.A. Hayek, 376 married life of, 382ff. methodology of, 41-42 on business cycles, 275 on interventionism, 78, 366 on "loopholes," 34 on men of wealth, 179 on private property, 355 on socialist calculation problem, 346 on stock market, 356 on W. H. Hutt, 374 Mises, Margit von, 381ff. MIT (Massachusetts Institute of Technology), 36, 202 Mitchell, Wesley C., 233 Modern Corporation and Private Property, The, 178 Mondale, Walter, 212 Monetarism, 48, 56, 110, 120, 220, 221, 237, 255ff., 258ff., 267, 272 Monetary Theory and the Trade Cycle, 376 Money supply of, 22-23, 175, 238ff., 248, 261, 273ff., 287, 290 see also Currency, Inflation, Deflation Monopoly, 29, 183ff., 188 [p. 434] Morgan Guaranty Trust, 295 Mortgages, 285, 286 deductions for, 106, 215 Morton, Cliff, 94 Moynihan, Daniel P., 71, 72, 75 Mozambique, 88 Mullendore, William C., 380 Mundell, Robert, 266 My Years with Ludwig von Mises, 382 |
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Nader, Ralph, 323 National Association of Blacks Within Government, 318 National Association of Federal Licensed Firearms Dealers, 152 National Banking Act, 186 National Banking System, 185 National Bureau of Economic Research (NBER), 166, 225, 231ff., 244-45 National Conference of Black Mayors, 318 National Guard, 124-25 National Health Service (Britain), 220 National Labor Board, 359 National Labor Relations Act, See Wagner Act National Labor Relations Board, 138, 359 National service, 151 National Urban League, 318 Natural law, 379 Nazis, 184, 241 Neoclassical economics, 36-37 Neoconservatives, 403, 409 on Bill Clinton, 119 on Proposition 187, 407-8 on trade, 304 on welfare state, 81ff. New Deal, 62, 73, 82, 84, 85, 117, 131, 138, 285, 359, 388, 400 New Left, 245 New Jersey, 99, 146, 177 New York City, 60, 95, 99-101, 115, 135, 152, 162, 297, 404 New York Daily News, 135 New York Post, 60 New York Times, 177, 180, 202, 203, 259 Nixon, Richard M., 82, 117, 267, 398 price controls implemented by, 124-25 repudiates gold standard, 255, 264 Nobel Prize, 378, 387 Nomenklatura, 352 Normal curve, 38-39 Norris-La Guardia Act, 138, 415 North American Financial Group, 270 North American Free Trade Agreement (NAFTA), 306ff., 310ff., 417 as mercantilism, 307, 418 as cartel, 313 environmentalism and, 309 Keynesianism and, 311 fixed exchange rates and, 270 international currency regulation and, 270 leading to centralization, 308 oil and, 310 side agreements of, 309 North Carolina, 158 North Carolina Law Review, The, 138 Northwood Institute, 381 Northwood University, 381 "Off budget" items, 226, 367 Office of Price Administration, 124 Ohio, 277 Oil allowances for depletion of, 215ff. foreign, U.S. dependence on, 210 price of, 209, 322ff., 327ff. Old Right, 125, 364 Operation Desert Shield, 326 Oppenheimer, Sir Harry, 322 Orange Country Register, 407 Organization of Petroleum Exporting Countries (OPEC), 175, 276, 289, 319, 328 Orwell, George, 29, 122 Other Path, The, 332 Oxford University, 117 Pakistan, 327 Paleoconservatives, 160-61 Panama, 327 Panic of 1873, 185 Pattison, Scott, 87 Paul, Ron, 298 Pearl Harbor, 333 Pennsylvania, 157, 315 People's Express, 188 Perestroika, 346, 348, 356 Perot, H. Ross, 111ff. Persian Gulf War, 210 domestic statism and, 360 oil prices and, 322ff. Personal exemption, 106 Peso, 270 Petrakov, Nicholas, 240 Petro, Sylvester, 138 Pew, J. Howard, 378 Philadelphia, 297 Phillips, A. W., 24 Phillips curve, 24-25, 167, 176 Philosophy of Individualism, The, 373 Phoenix, 110, 271 Photocopiers, 192ff. Physics, 35 Pilkey, Orrin H., 97 Pol Pot, 350 [p. 435] Poland, 167, 330ff., 348, 350, 354, 358 Politics vs. Prosperity, 381 Pollution, 195ff. Poole, David A., 236 Population control, 148ff. Populism election of 1994 and, 365, 404, 406, 419 supply-side economics and, 50 Portugal, 89 Postal service, 143 Pound, 253, 260 as world reserve currency, 264 Praxeology, 41, 388 Prices cartels and, 319 chaos theory and, 36 controls on, 96-97, 123ff., 129, 188, 240, 325, 354 determination of, 323 during 1920s, 107, 168, 274 during 1980s, 107, 168 during recession, 167 effects of productivity on, 275 effects of protectionism on, 29 effects of supply on, 275 gold standard and, 237 housing, 107 index, 266, 273, 292 Industrial Revolution and, 25, 238 stock, 172 system, 96, 209, 238, 355 Prices and Production, 377 Privatization, 142ff., 144ff., 355, 395-96, 416 in England, 144, 220 of Internal Revenue Service, 184, 368 of public housing, 220 of undesirable activities, 368 of water, 94, 101 see also Desocialization Productivity effects of investment on, 222 labor, 133 Progressive Era, 117, 186 Progressive Policy Institute, 118 Property education vouchers as attack on, 156 environmentalism and, 91-94 political freedom and, 346 private, 116, 137, 150, 159, 281, 338 rights, 137, 207 Proposition 13 (California), 154 Proposition 174 (California), 153ff. Proposition 187 (California), 406ff. 411, 413 Protectionism, 109, 258, 303ff., 306ff., 313ff. currency depreciation as, 257, 316 "infant industry" argument for, 316 Public Securities Association, 169 Pullman strike, 136 Quotas import, 29, 109, 303, 306, 314 Racism, 82, 319 Rahn, Richard W., 231 Railroads, 29, 185 Rand, Ayn, 294, 295 Randolph, John, of Roanoke, 399 Ratajczak, Donald, 289 Ravitch, Diane, 83 Read, Leonard, 380 Reagan Administration, 117, 134 Keynesianism in, 53, 55-56 Keynesians vs. supply-siders in, 56, 266-67 inflation during, 273ff., 292 interest rates during, 276 minimum wage and, 132 on exchange rates, 256 on Law of the Sea Treaty, 92 regulation and, 109 tax policy of, 73-74, 206 Reagan, Ronald, 105-6, 110, 189, 308, 398, 399 air traffic controllers and, 187, 192 as an authentic conservative, 396-97 economic policy of, 120 free- market rhetoric of, 219 monetary policy of, 175 tax cuts of, 106, 235 tax increases of, 106, 108, 121, 211, 403 Real estate, 106-07, 168, 173, 278 Reason, 379 Reason Foundation, 407 Recession, 20, 121, 167, 168 as consequence of inflation, 107, 175, 289, 290 as corrective to malinvestment, 236 cutting government spending during, 174 George Bush and, 241ff. in Brazil, 240 Keynesian view of, 121-22, 241 media on, 30ff. NBER determination of, 166, 231ff., 244-45 of early 1970s, 234, 249 of early 1980s, 234, 288 of 1990, 105ff., 122 price trends during, 167 tax increase during, 120, 165, 173, 225, 236 Reconstruction, 162 Reconstruction Finance Corporation, 359 Regan, Donald, 56, 110 Regulation agricultural, 85ff. as cartelization mechanism, 153 European Community and, 222, 304 maximum purchase, 169 [p. 436] NAFTA and, 309 of automobiles, 210 of communication, 126 of lobbying, 195 of private schools, 156 Rehabilitation of Say's Law, A, 375 Reich, Robert, 117, 118 Religion, 15 Republicans, 82ff., 112, 117, 124, 125, 160, 293, 394, 396, 399, 404-5, 414ff. as similar to Democrats, 75, 82, 362, 397, 417 Contract with America and, 364 economic policy of, 186 for Clinton, 119 in nineteenth century, 184, 315 on housing, 84 on minimum wage, 132 on NAFTA, 311 "Rockefeller," 401 Radical, 315 Revenue, government in Britain, 220 "neutrality," 243-244, 363 relationship of tax rates to, 27-28 Review of Austrian Economics, 385 Revolt of the Elites, The, 405 Revolution Betrayed, The, 361 Rhode Island, 277 Ricardo, David, 237 Richebacher, Kurt, 32, 107 Richmond, 297 Rioting, 69ff., 84 Rivlin, Alice, 208 Rhodes Scholars, 117 Road to Serfdom, The, 349, 378 Robbins, Lionel, 377 Roberts, Paul Craig, 351, 352 Rockefeller, David, 176ff., 217, 329 Rockefeller, Nelson, 399, 401 Rockefeller family, 105, 294, 328, 403, 419 Rockwell, Llewellyn H., Jr., 108, 311, 412, 419 Roe v. Wade, 412 Rohatyn, Felix, 118 Rohrabacher, Dana, 407 Roman empire, 150 Rome, 123 Roosevelt, Franklin D., 56, 68, 85, 359, 398 oil policy of, 328 repudiates gold standard, 298 Rothschild Bank, 319 Rothschild, Edwin, 323 Rubin, Robert, 118 Ruble, 335ff., 354 depreciation of, 335 Russia, 88, 167 Rwanda, 150 Sabah family, 329 Saddam Hussein, 323, 326ff. St. Louis, 297 Salinas, Carlos, 310, 409 Salomon Bros., 168, 171 Samuelson, Paul 277, 278 Saudi Arabia, 325, 328 Saving, 21, 43, 120ff., 174 as validating malinvestment, 244 effects of taxation on, 215, 243 in China, 357 in Third World, 150 in United States, 45ff. Savings & Loan institutions (S&Ls), 168, 283ff. as cartel, 285 bankruptcy of, 297 collapse of, 248, 277 fractional-reserve banking and, 278, 284, 333 Say, J. B., 376 Say's Law, 79, 375 Scandinavia, 65 Schlafly, Phyllis, 400 Scholastic theologians, 379 Schultz, George, 329 Schultze, Charles L., 202 Schumpeter, Joseph, 48 Schwarzkopf, H. Norman, 326 Scotland, 219 Securities and Exchange Commission, 179 Hungarian equivalent, 358 Sereny, Ferdinand, 383 Shapiro, Robert, 118 Sheehan, Jim, 311 Shiites, 327 Shining Path, 332 Shutz, Alfred, 383 Shutz, Ilse, 383 Sierra Club, 93-95, 196 Simon, Paul, 366 Sixteenth Amendment, 185 Slaughter, Thomas P., 160 Smith, Adam, 40, 48, 374 Smith, Fred, 311 Smithsonian Agreement, 255, 257, 267 Sobran, Joe, 328 Social democrats, 347 Social Security, 33, 72, 106, 131, 294, 415 surplus, obscures deficit, 74-75, 241 Socialism, 88, 119 as final outcome of interventionism, 78 collapse of, 345-50 economic calculation under, 378 in China, 346 democratic, 347 in Hungary, 346, 348 in Yugoslavia, 346 "market," 306 [p. 437] political freedom and, 349 reversibility of, 351 varieties of, 356 Socialism, 376 Socialized medicine in England, 220 see also Health care Solidarity (Poland), 348 Solow, Robert M., 202, 203 Solzhenitsyn, Alexander, 348 Soto, Hernando de, 332 South (U.S.), 162 South Africa, 414 apartheid system and, 317ff., 374-75 Communist Party in, 374 currency of, 298 diamond mining in, 319ff. Interior Department of, 375 South Carolina, 96ff., 158 South Vietnam, 124 Southern California Edison Corporation, 380ff. Sovereignty, 272, 273 Soviet Union, 119, 202, 327 as grain importer, 88 black markets in, 123, 182, 240 deflation in, 240 desocialization in, 350, 353, 354 diamond cartel and, 321 gold standard recommended for, 335ff. infant mortality in, 64 inflation in, 237, 336 price controls in, 354 socialism in, 346 U. S. aid to, 337ff. Special Drawing Rights (SDRs), 259, 272 Speculators currency, 260, 262 in oil, 324 Spending, government as consumption, 47-48 Balanced Budget Amendment and, 367 "cuts" as disingenuous, 33 in Great Britain, 219, 220 J. K. Galbraith on, 202 Keynesianism on, 121, 241, 377 on health care, 129 reductions in, 213, 364, 415 Sprinkel, Beryl W., 256, 267 Standard Oil, 329 Stalin, Jose f, 120, 203, 361 Stamp Tax, 158 Stanford University, 39-40 Statistics, 17 improper use of, 20, 25, 31-32, 37, 38ff., 45-46, 232ff., 245 Steel, 136, 144 protectionism and, 29, 314ff. Stein, Herbert, 125ff. Stephanopoulos, George, 393 Sterling, See Pound Stevens, Thaddeus, 315 Stock market, 107, 168, 273ff. as crucial to capitalism, 356 chaos theory and, 36-37 in China, 356 in Hungary, 357 insider trading on, 180ff. need for in Eastern Europe, 355ff. 1987 crash of, 171ff. see also Depression, Great Stockholders, 177ff. Strasbourg, 222 Strikes, 135ff. Subsidy FEMA as promoting, 95 tax breaks equated with, 26, 205, 206ff., 215 to Disney theme park, 161 to railroads, 185 Sullivan, Louis W., 64 Sun Oil Conference, 378 Sununu, John, 242 Supply-side economics, Supply-siders, 48ff., 56, 120, 243 on deficits, 49-50, 213 on gold standard, 50, 227ff. on government revenue, 49-50, 244 on international monetary system, 266-67 on taxation, 49-50, 122 Supreme Court, 185, 409-14 Sweden, 260 Switzerland, 167 Syria, 327 Taft, Robert, 399 Tariffs, 303 during Civil War, 185 effects on consumers, 314 on iron and steel, 29, 314ff. Tax Reform Act of 1986, 47, 84, 106, 205, 366 Taxation as cartelization mechanism, 153 Balanced Budget Amendment as in creasing, 226, 366ff. capital gains, 47, 48, 84, 215 collectors of, 158 complexity of, 214ff. credits, 205-06 deductions, 26, 47, 106, 206ff., 215ff., 366 democracy and, 218 effects on investment, 215 effects on production, 121, 152, 210 effects on saving, 48, 215, 244 egalitarianism and, 219 energy, 121 equal, 27, 218-19 European Community and, 222 [p. 438] excise, 158ff., 185 exemptions, from, 26, 213 farming,' 184, 368 "fee" as euphemism for, 15, 108, 152 fiat, 26-27, 214ff. gasoline, 27, 208ff., 328 in England, 215 in Europe, 202, 368 income, 27-28, 159, 185, 215ff., 415 increases in, 15, 33-34, 106, 121ff., 201ff., 224-25, 226 internal vs. external, 157-58 Keynesianism on, 243 lawyers, 216 loopholes, 26, 34, 84, 106, 205ff., 366 media on, 31 mercantilism and, 183 "neutral," 217ff. on cider, 158 on whiskey, 157ff. poll, 218ff., 221 progressive, 179 property, 154 proportionate, 27, 217ff. reductions in, 33, 208, 221, 235, 237, 244 riots against, 217 shelters, 106 "sin," 159, 185 views of business toward, 152-53 Teachers, 154 Tenth Amendment, 364 Term limits, 410 Texas, 92ff., 328 Textiles, 29 Thatcher, Margaret, 84, 144 free-market rhetoric of, 219, 220 on European Community, 304 tax policy of, 217ff. Theory of Collective Bargaining, The, 374 Theory of Idle Resources, The, 375 Third World, 148ff., 241, 398 famine in, 88-89 hyperinflation in, 107, 336 infant mortality in, 66 Thompson, Julian Ogilvie, 322 Tiananmen Square, 349 Time preference, 46, 47, 167 Toffler, Alvin, 18 Tos, John, 86 Tower, John, 347 Townsend-Greenspan, 293 Trade blocs, 304 deficit, 44, 173, 275, 303 "fair," 303, 313 free, 185, 303ff., 306ff., 315 Treasury, 242 bonds, 169, 170 Treasury, Department of, 223, 242, 272 gun regulation and, 152 maximum purchase regulations of, 169 minting of gold coins, 298 pricing of gold, 299 privatization of tax collection, 368 Treatise on Money, 377 Triffin, Robert, 259, 272 Trilateral Commission, 294, 329 Trotsky, Leon, 361 Trotskyists, 347 Truman, Harry, 124-25, 136, 398 Trump, Donald J., 176, 179 Tsongas, Paul, 208 Tucker, Jeffrey, 84 Unemployment, 30, 121, 165, 235 causes of, 239 in Britain, 220 insurance, 53 minimum wage and, 13o37, 34 Phillips curve "trade-off and, 24-25, 167, 176 Union Monopoly, 380 Unions, 135ff., 141, 239 apartheid and, 374-75 as advocates of minimum wage, 134 Chicago School and, 375 teachers', 154 use of violence, 135ff. V. Orval Watts on, 380 wage rates and, 52-53, 374 W.H. Hutt on, 374-75 Unita, 110, 254, 259, 271 United Farm Workers, 140 United Nations, 312 Conference on Population of, 148ff. Law of the Sea Treaty of, 92 Republicans on, 363, 417 tax exemption of employees, 213 V. Orval Watts on, 380 United Nations: Planned Tyranny, 380-81 United States, 258, 263, 268, 272 aid to Gorbachev and, 337ff. infant mortality of, 64ff. international monetary system and, 253-60, 263-75 international trade and, 303-17 Persian Gulf War and, 325ff. University of Chicago, 48, 236 University of Dallas, 373 University of Warsaw, 330ff. Van Eck Management Corporation, 236 Vargas Llosa, Mario, 332ff. Venceremos Brigade, 140 Veterans of Foreign Wars, 114 Vietnam War, 360 Vietnamese-Americans, 340ff. Virginia, 158, 160ff. Volcker, Paul, 50, 51, 107, 117, 293, 297 Vouchers, See Education, vouchers [p. 439] Wages as indicator of productivity, 28-29 effects of trade sanctions on, 317 labor demand and, 317 minimum, 62, 71, 132ff., 304 of migrant farm workers, 141 unions and, 374 Wagner Act, 138, 359, 416 Wall Street, 118, 168ff., 177ff., 180ff., 257, 329, 403 see also Stock market Wall Street Journal, 66, 155, 277, 335, 407, 418 Wallace, George, 108 Waiters, Sir Alan, 221 Wanniski, Jude, 50 War growth of government and, 358ff. prices during, 25-26 War Finance Corporation, 359 War Industries Board, 359 War Labor Board, 359, 360 War of 1812, 25, 159, 315, 359 War Production Board, 359 Washington, D.C., 27, 404 public opposition to, 361ff., 394 Washington, George, 157, 159 Washington, Harold, 318 Washington Post, 363 Washington Times, 412 Water, 92-94 Watts, 70 Watts, V. Orval, 380ff. Way the World Works, The, 50 Weinberger, Casper, 329 Welfare, 59-64 education vouchers as, 154, 155 opposition to, 366 Welfare state, 87, 96, 206 education vouchers and, 156 expansion of, 153 in European Community, 308 neoconservatives on, 82ff. supply-side economists on, 50 West Germany, 45, 265, 273, 354 Whigs, 184 Whip Inflation Now, 294 Whiskey Rebellion, 157ff. Whiskey Rebellion, The (Boyd, ed.), 160 Whiskey Rebellion, The (Slaughter), 160 White, Harry Dexter, 110, 254, 259, 271 Wilczek, Mieczyslaw, 350 Wilde, Oscar, 134 Will, George, 306 Williams Act, 105, 177 Willkie, Wendell, 399 Wilson, Charles E., 359 Wilson, Pete, 408 Wilson, Woodrow, 311, 420 Wolff, Nelson, 93 Women, 17-18 Women, Infants and Children (WIC), 60, 65-66 Works Progress Administration, 62 World Bank, 266 NAFTA and, 309 Republicans on, 363 World government, 262, 271, 273, 312 World Trade Organization (WTO), 411-12, 417, 420 World War I, 25, 124, 263, 359 World War II, 124, 166, 359 Wright, Jim, 347 Xerox, 192ff. Yale University, 272 Yellowstone Park, 283 Yeltsin, Boris, 338 Yen, 270 Yugoslavia, 346, 356 Zapata, 329 Zarnowitz, Victor, 236 Zedillo, Ernesto, 409 Zero Population Growth, 148ff. Zloty, 354, 358 |
