Interventionism: An Economic Analysis Book

Foreword ix

Author's Preface xiii

Introduction

1 The Problem 1

2 Capitalism or Market Economy 2

3 The Socialist Economy 6

4 The Capitalist State and the Socialist State 9

5 The Interventionist State 10

6 The Plea for Moral Reform 13

I Interference by Restriction

1 The Nature of Restrictive Measures 19

2 Costs and Benefits of Restrictive Measures 20

3 The Restrictive Measure as a Privilege 21

4 Restrictive Measures as Expenditures 22

II Interference by Price Control

1 The Alternative: Statutory Law versus Economic Law 24

2 The Reaction of the Market 27

3 Minimum Wages and Unemployment 31

4 The Political Consequences of Unemployment 34

III Inflation and Credit Expansion

1 Inflation 37

2 Credit Expansion 41

3 Foreign Exchange Control 47

4 The Flight of Capital and the Problem of "Hot Money" 49

IV Confiscation and Subsidies

1 Confiscation 53

2 The Procurement of Funds for Public Expenditure 55

3 Unprofitable Public Works and Subsidies 58

4 "Altruistic" Entrepreneurship 60

V Corporativism and Syndicalism

1 Corporativism 62

2 Syndicalism 66

VI War Economy

1 War and the Market Economy 69

2 Total War and War Socialism 70

3 Market Economy and National Defense 73

VII The Economic, Social, and Political Consequences of Interventionism

1 The Economic Consequences 78

2 Parliamentary Government and Interventionism 81

3 Freedom and the Economic System 83

4 The Great Delusion 86

5 The Source of Hitler's Success 88

VIII Conclusions 93

Reading References 97

Index 99