34.

To Alleviate Misfortune

“No one must profit from the misfortune of others.” I hear and read such assertions virtually every time there is an emergency or disaster or whenever some good is considered essential or “necessary.”

35.

The Free Market Ignores the Poor

For years, I have toyed with writing an article I would title “Ignore the Rich.” The core idea would be that focusing on “the rich” leads to envy and, from there, all sorts of restrictions that hinder the incentives for people, rich and poor, to use their productive assets in the service of others. Ignoring the rich and instead focusing on effects produced for everyone could help bring about far better policies and far broader benefits for society.

36.

Coping with Poverty

Exit polls revealed an interesting aspect of the 2012 presidential election. Mitt Romney was preferred by substantial margins among those who most wanted someone who “shares my values,” “is a strong leader,” or “has a vision for the future.” He was not preferred, however, by 81 percent of people who wanted someone who “cares about people like me.”

37.

Resisting the Temptation of Problems
beyond Our Powers

What kinds of social problems and issues do individuals become aware of, and what kinds can they fix? If the answer to the second question is not the same as the answer to the first, which is increasingly true in a world with exponentially increasing access to information, then even well-intended “solutions” can fail or cause harm rather than provide help. It is crucial that people realize that there are far fewer items on the second list than on the first.

38.

The Macro Malady

39.

Exalting the Common Good

Americans hear a lot about “common good” capitalism these days. But, as with most political adjectives and modifiers, the term is misleading and, as a result, a false premise on which to build one’s understanding.

40.

Leave It to the Free Market

Once upon a time, before government had so thoroughly commandeered and domineered voluntary arrangements, whether of exchange or charity, an acceptable answer to “ Well, what would you do?” about some social issue might have been, “Leave it to the free market.” It would have been understood as something like, “Let people cooperate however they choose, as long as they respect others’ rights,” and would have no negative connotation.

41.

Leaving behind the
Labor Theory of Value

The labor theory of value, as a rationale for various incarnations of socialism, has for a long time undermined the miracles of markets and prevented people from understanding them. Leonard Read understands why it is of immense value to undo that misunderstanding, for those who believe it as well as for those who use it as an excuse for what they want government to impose on unwilling citizens. In his December 1956 Freeman article, “Unearned Riches” (Read 1956b), he offers a very insightful look at the issues.

42.

Getting to Know Beans about Labor

Leonard Read is committed to the belief that liberty and the private property that enable it are more moral and productive than any alternative. He thinks that if people can see what he sees, liberty’s cause will be advanced. That is why he describes his many writing efforts as an ongoing process of “finding words for common sense” to reach as many people as possible.

43.

There Is No Moral Right to Strike

Leonard Read’s The Coming Aristocracy (Read 1969a) includes an article with a title that makes a particularly bold statement about strikes: “There Is No Moral Right to Strike.” Because, in our time of rising labor unrest, discussions about strikes seldom take a moral approach, his argument is worth serious consideration.