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In March 1921, V. I. Lenin, ruler of revolutionary Russia, stood before the Tenth Congress of the Bolshevik Party and dramatically admitted that something had gone awry with the Revolution. The new policy he unveiled that day admitted not only that the Bolsheviks had failed to ignite a world- wide socialist takeover, but that the revolution they

Since the victors of warfare write the histories, one must look long and hard to find recognition of the radical critics of any given war. No matter how substantial or respectable anti-war sentiment may be as a conflict approaches, once the pro-war spirit gets rolling, like a snowball down a mountain, it sweeps aside everything in its path. The

On October 29, 1929, the roof fell in on the booming American economy. A nation that since World War I had come to believe material progress was inevitable and unstoppable suddenly witnessed the most surreal of spectacles: panic on Wall Street. The change in economic conditions dashed the expectations of thousands of businessmen; huge investments

In recent years, as libertarian policy analysts have put their minds to the question of tax reform, some have succumbed to the lure of a broad-based, proportional, or flat, income tax. Under these proposals, the current progressive multirate structure would be replaced by a single rate that would apply to all taxpayers. Moreover, all forms of

The Free Market 6, no. 10 (October 1988)   On August 2, 1988, President Ronald Reagan announced that he had changed his mind about the pro-union plant-closing bill. He had vetoed it three months earlier, but now let it become law without his signature after intense pressure from presidential nominee George Bush and former Treasury Secretary James

The Free Market 8, no. 1 (January 1990)   The pace of change in the Soviet Union and Eastern Europe is so brisk that it is risky to write anything about it. Nevertheless, the virtual dismantling of the Berlin Wall and the beginning of liberalization in East Germany are exhilarating news, the climax of months of historic developments. One’s natural

The Free Market 6, no. 5 (May 1988)   Mark Shields, a columnist for the Washington Post, recently wrote of President Reagan’s “blind devotion to the doctrine of free trade.” If President Reagan has a devotion to free trade, it must be blind because he has been way off the mark. In fact, he has been the most protectionist president since Herbert