This Perfect Day
14 November 2007
Editor, Baltimore Sun
To the Editor:
"Rosemary's Baby" and "The Boys from Brazil" are indeed the two most popular novels written by the late Ira Levin ("'Rosemary's Baby' Author Ira Levin Dies," November 14). But his best work, in my opinion, is his little-known 1970 novel "This Perfect Day." In this work, Mr. Levin describes the horrors unleashed by a collectivist mentality that deifies the state as the creator of all that is orderly and good in society - a mentality that, as a result, empowers government to crush liberty and individuality. "This Perfect Day" should rank with other collectivist-dystopian works such as Orwell's "1984" and with Huxley's "Brave New World."
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
My Two - Make That Three -- Cents
13 November 2007
Editor, USA Today
To the Editor:
DeWayne Wickham's analysis of the dollar's declining value is flawed ("Weakening dollar reflects USA's fading world status," November 13). First, prosperity isn't created by a nation having "economic dominance" (whatever that means); it is created by open markets unburdened by excessive regulations and taxes. Second, the size of the trade deficit is no part of the explanation for the dollar's fall. What must be explained is why investors until recently were keen on the dollar (and thus caused the trade deficit to rise) and why they are less keen on it now. I have my hunches for this change in investors' sentiments - namely, Congress's increasing hostility to free trade and its mounting enthusiasm for raising taxes, and the Fed's acceleration of the growth of the supply of dollars.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Makes Me Unhappy
12 November 2007
The Editor, New York Times
229 West 43rd St.
New York, NY 10036
To the Editor:
Here's the scariest line I've read in ages: "The era of laissez-faire happiness might be coming to an end. Some prominent economists and psychologists are looking into ways to measure happiness to draw it into the public policy realm" ("All They Are Saying Is Give Happiness a Chance," November 12).
Several decades ago, some economists - enamored of their increasing ability to describe statistically existing patterns of production - fancied that a new age was dawning in which government would improve the lot of ordinary people by substituting its own production and distribution "plans" for the results of the market. These fancies proved to be dangerous fantasies. We would all be much better off - happier, even! - if this new generation of planners are laughed out of the public arena before their power grows to be as large as their gargantuan arrogance.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Reality, Not Fantasy
12 November 2007
Editor, Washington Post
1150 15th St., NW
Washington, DC 20071
Dear Editor:
Sebastian Mallaby sensibly finds merit in Benn Steil's call for currency to be supplied by the private sector ("The Dollar In Danger," November 12). But Mr. Mallaby misses the mark somewhat when he writes that "The more the dollar slides, the less Steil's suggestion sounds like a fantasy from a movie studio." History beat Hollywood to this story line.
Several economies have successfully used private currencies in the past. The most famous of these was Scotland from the early 18th century until 1845, when the Scottish Banking Act ended free entry into the currency-issuing business. Research by George Selgin, Lawrence White, and others shows not only that markets can supply money, but also that privately issued money is quite sound.*
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
* An excellent survey is George A. Selgin and Lawrence H. White, "How Would the Invisible Hand Handle Money?," Journal of Economic Literature, Vol. 32, December 1994.
Absolute Poverty HAS Virtually Disappeared in the U.S.
11 November 2007
Editor, The Washington Times
To the Editor:
Rep. Jim McDermott's need to stir up demands for his and his colleagues' "services" does not justify his misinterpretation of Walter Williams's recent column (Letters, November 11). Mr. McDermott is shocked - shocked! - that Prof. Williams writes that poverty in America has "virtually disappeared." In fact, however, Prof. Williams wrote that "Poverty in the United States, in an absolute sense, has virtually disappeared." Mr. McDermott conveniently forgot to include, when quoting Prof. Williams, the part about "in an absolute sense."
Poverty in America, in an absolute sense, has indeed virtually disappeared. No American dies of starvation (although some do die from OVER-eating). And nearly every American is housed, clothed, entertained, and cared for medically in ways that nearly all of our pre-industrial ancestors would have thought possible only in Shangri-la.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Going for the Green
10 November 2007
Editor, The New York Post
To the Editor:
Jonah Goldberg wisely advises suspicion whenever corporations parade their green sensibilities ("NBC's green fraud," November 10). Public displays of concern for the environment too often mask corporations' goal of using regulations to fatten their bottom lines by restricting consumer choice.
For example, consider Weyerhaeuser Co.'s vigorous support for regulations protecting spotted owls. As documented by economist Bruce Yandle, by significantly curbing logging in public forests, these regulations raise the prices that Weyerhaeuser gets for the timber it logs from its own forests.* Green indeed.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
* Bruce Yandle, "Bootleggers and Baptists in Retrospect," Regulation, Vol. 22, Fall 1999.
Fumigate It All
9 November 2007
Editor, Washington Post
1150 15th St., NW
Washington, DC 20071
Dear Editor:
Sen. Charles Schumer supports Judge Michael Mukasey's bid to become Attorney General because Mr. Mukasey will, in Sen. Schumer's words, "remove the stench of politics from the Justice Department" ("Mukasey Says He'll Be Independent," November 9). Alas, because Mr. Mukasey is a political appointee, this result is highly unlikely.
Either way, though, I applaud Sen. Schumer's recognition of the nature of politics. And so I ask him: if it is desirable to fumigate the Justice Department from the stench of politics, would it not be even more desirable to fumigate our entire society from this appalling, foul, and enervating stench?
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Where the Guns are Aimed
8 November 2007
Editor, The Washington Times
To the Editor:
Alluding, as you correctly report, "to the possibility of economic retaliation by European states stung by the falling dollar," French president Nicolas Sarkozy yesterday warned of "economic war" ("China signals dollar swap," November 8).
Higher tariffs are indeed hateful and harmful. But do keep in mind an important difference between real shoot'-em-up wars and "economic wars": in "economic wars," each belligerent government aims its weapons only at its own citizens, demanding that they avoid taking advantage of good economic deals offered by foreigners. Put differently, in "economic wars," when the government of A attacks citizens of A, the government of B "retaliates" by attacking citizens of B. Then to further punish B, the government of A increases the scale of its attack on citizens of A. And so it perversely goes.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
