Morgan Reynolds

Professors Freeman and Medoff have created quite a stir with What Do Unions Do?—the first substantial pro-union book by economists in decades. The book has drawn an extraordinary amount of (mostly favorable) attention, with articles in magazines such as Business Week and Fortune, a full-scale symposium in Industrial and Labor Relations Review, and coverage in many academic journals. All the attention, in my view, says more about what articulate opinion wants to hear than what is true.

Clifford F. Thies

In The Crash and Its Aftermath, Barrie A. Wigmore presents a detailed chronology of financial markets from “Black Thursday” in 1929 to President Roosevelt’s “100 days” in 1933. The book’s strength is in its consideration of bond markets, including the U.S. Treasury, corporate, municipal, and foreign bond markets, as well as (to a lesser degree) commodity markets, in addition to money and stock markets. Nowhere else can as complete a financial history of this time period be found.

David Gordon

Peter Berger is an astute observer and erudite scholar but a poor theorist. So, at least, one is driven to conclude, judging by his work under review here, The Capitalist Revolution. Berger, famed for his work as a sociologist of knowledge, has braved the perils of conformity in his discipline by writing a work sympathetic to capitalism. He advances in the book fifty propositions “about prosperity, equality, and liberty”: the issue of the role of capitalism in economic development especially interests him.

Morgan O. Reynolds

One of the great economists of our age, W.H. Hutt, died in June, 1988, just two months shy of his eighty-ninth birthday. As he once told me, “I was born in the century of Napoleon.” The comment typified Bill Hutt’s amiable pride and gentle character.

Roger W. Garrison

The Austrian theory of the business cycle has many critics. Some believe that this part of the Austrian contribution is so misdirected as to constitute an “embarrassing excrescence” (Yeager [1986, p.

Samuel Cameron

Inspired for the most part by the Chicago faction, orthodox economists have embarked on a considerable amount of empire building in the past two decades. They have purported to show the usefulness of their approach to problems such as sex, marriage, divorce, crime, abortion, and church attendance.

Murray N. Rothbard

In recent years, economists have invaded other intellectual disciplines and, in the dubious name of “science,” have employed staggeringly oversimplified assumptions in order to make sweeping and provocative conclusions about fields they know very little about. This is a modern form of “economic imperialism” in the realm of the intellect.

Dominick T. Armentano

Antitrust Reform in the 1980s

There have been some modest changes in the administration of United States antitrust policy over the past ten years.

Mark Skousen

If the monetary policies of the 1920s brought forth the Great Depression, similar policies during the 1980s are likely to produce another depression.

—Hans F. Sennholz1

E.C. Pasour, Jr.

The entrepreneur is a key figure in the market economy. In a dynamic economy, ideas, products, and services are constantly changing.