Years Ago

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"The War on Poverty is destined to continue for a long while, but thanks to [Charles] Murray and the growing recognition that social problems aren't engineering tasks to be tackled like moon landings, we can hope that perhaps it won't end up being a fruitless Hundred Years' War."

-Steven Hayward, review of Michael Harrington's The Other America

"Capitalism was doomed-not by its failures, as in Marxian analysis, but by its successes. For according to Schumpeter, capitalism alienated intellectuals, who were unhappy because they are not important players in a decentralized free-market system. Moreover, intellectuals do not like the profit motive that drives this system. But Schumpeter greatly exaggerated the long-run influence of intellectuals on public policy."

-Gary S. Becker, review of Joseph Schumpeter's Capitalism, Socialism, and Democracy

-December 1993

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