Argues that the government monopoly of money must be abolished to stop recurring bouts of inflation and deflation.

Denationalisation of Money: The Argument Refined (An Analysis of the Theory and Practice of Concurrent Currencies Series))

Hayek, Friedrich A. Von

Reference

Coronet Books Inc.

Crime is caused by poverty and unemployment! If poverty increases, then so too does crime. Such is the conclusion of the 'no-fault' theory of crime that holds sway among the social-affairs experts. In this book, Dennis argues with the central assumptions of this theory, focusing his criticism on the poverty lobby which claims "the poor are getting poorer and thus, so is crime". Dennis disagrees, instead arguing that rising crime is caused by decline in the family structure. The underlying theme here is that money will not help a problem which is essentially a moral and cultural one.

The Invention of Permanent Poverty (Choice in Welfare)

Politics & Social Sciences

Dennis, Norman

Social Sciences

The 'Memoir on Pauperism' was written in 1835 immediately after Alexis de Tocqueville had completed the first volume of Democracy in America. It was based on his visit to England in 1833, where he found that one-sixth of the population had been reduced to reliance on poor relief at a cost approaching nearly one-fifth of total national expenditure. Today, 17% of the population are reliant on income support - a strikingly similar proportion to Tocqueville's 1833 estimate - and if the other means-tested benefits are included the figure is 27%. In her introduction, Gertrude Himmelfarb, one of the foremost historians of the nineteenth century, shows the relevance of Tocqueville's insights for the modern debate about welfare reform in both Britain and America. Tocqueville began the 'Memoir' with the paradox that the most impoverished countries in Europe, like Spain and Portugal, had few paupers; while England, the wealthiest country at the time, had many. It had happened, he argued, as an unforeseen consequence of good intentions. As wealth had grown, those who prospered were not prepared to tolerate hardship in their midst. But, in truth, the paradoxical result of this early experiment in compulsory state welfare was that beneficiaries were degraded by their reduction to dependency. In contrast, Tocqueville believed, voluntary charity at its best established a 'moral tie' between giver and receiver and, instead of encouraging dishonesty and 'working the system', it sought to strengthen character and restore independence. Today, Himmelfarb writes, we can more than ever appreciate Tocqueville's criticism of 'government charity' as an 'entitlement'.

Memoir on Pauperism (Rediscovered Riches)

History

Tocqueville, Alexis De

World

Capitalism is the only game in town, according to Will Hutton, but we can choose between different varieties. Hutton attributes the blame for Britain's poor performance to the pursuit of short-term profits for investors, instead of long-term policies which take into account the needs not only of shareholders but of suppliers, workers, trade unions and banks as well. Hutton blames the Conservative government's 'single-minded pursuit of free-market economic doctrines' for making the situation worse and leading to a fragmented society. Instead, he recommends stakeholder theory, embodied in a range of reforms to discourage short-term profit-seeking and to change the structures of corporate governance.Hutton's critics take stakeholder theory to task on a number of points. Tim Congdon shows that, far from demanding exceptionally high short-term returns on capital, UK investors accept the lowest rate of return of all the large OECD countries. However, in terms of output per unit of capital invested, the UK has out-performed all other G7 countries since 1979. David Green argues that Hutton's analysis of failures in the welfare state is misguided since, far from rigorously pursuing market principles, the Conservative government has continued the paternalist/corporatist approach to welfare which characterises socialism. Stanley Kalms puts the retailer's view of 'stakeholding', which he says would leave shoppers worse off. Martin Ricketts shows how competitive markets offer a choice of institutional types, including co-ops, mutual organisations, partnerships, profit-sharing firms and joint stock corporations. If 'stakeholding' is considered beneficial by businesses there is nothing to stop it developing. Elaine Sternberg argues that stakeholder theory would, in practice, be unworkable. It would reduce corporate governance to a complicated procedure of balancing the competing claims of various 'stakeholders', ruling out the pursuit of any specific objective, commercial or otherwise.In keeping with the symposium format which has made previous publications in this series so useful for teaching purposes, Hutton is given the chance to respond to his critics. Stakeholding and its Critics thus presents a valuable cross-section of the debate on this important and topical issue.

Stakeholding & Its Critics (Choice in Welfare)

Business & Money

Hutton, Will

Economics

In this collection of essays the authors investigate different ways in which health care could be funded. Judith Allsop argues for the continuation of a centrally-planned service 'free at the point of use', on the grounds both of economic efficiency and social solidarity. Michael Goldsmith looks at the possibility of introducing additional charges - for example, 'hotel charges' for hospitals - but concludes that the amounts raised would be insignificant as a proportion of the NHS budget. Chris Ham describes the Singaporean system which involves compulsory savings in Medisave accounts, an open acknowledgement of rationing, and the choice of different classes of hospitals. David Green argues that health care should be returned to the institutions of civil society: health authorities should become independent mutual organisations, and hospitals should become non-profit charitable trusts. Social solidarity could thus be achieved without having a state monopoly.

How to Pay for Health Care: Public and Private Alternatives (Choice in Welfare)

Crime is low when crime doesn't pay, is the motto of this provocative essay by Charles Murray. He challenges the prevailing view amongst the criminal justice establishment that locking up criminals solves nothing. Like other volumes in this series, 'Does Prison Work?' features a number of critical responses to Murray's thesis, in order to give students a range of views on the issue.

Does Prison Work? (Choice in Welfare)

MURRAY, CHARLES

In the last hundred years or so, the neo-classical school has come to dominate microeconomic thinking. Economists concerned with competition have taken refuge in increasingly complex models which emphasize the end-state of competitive equilibrium. This paper presents, in non-technical terms, an 'Austrian' view of how a market economy works. The writer of this book follows in the Austrian tradition as he tries to crystallize the theory of entrepreneurial discovery and of its implications for economic understanding and policy.

How Markets Work: Disequilibrium, Entrepreneurship & Discovery (HOBART PAPERS)

Kirzner, Israel M.

Few topics cause more concern than rising crime. And few remedies have been more talked about, on both sides of the Atlantic, than zero-tolerance policing. When William Bratton was appointed Commissioner of New York Police Department in 1994 crime was perceived to be running out of control. The no-nonsense approach which he developed towards petty crime and incivility, which he believed to be indicators of potentially serious criminal behaviour, became known as 'zero-tolerance policing', and it showed spectacular results. Over three years the crime rate dropped by 37% and the homicide rate by 50 per cent. In the same year that Bratton was made commissioner of NYPD, DCI Ray Mallon became head of crime strategy in Hartlepool. His determination to restore the streets to the decent, law-abiding citizens mirrored Bratton's approach, and had the same results. Reported crimes fell by 27 per cent, with falls of 56 per cent in vehicle thefts and 31 per cent in burglaries. Chief Constable John Orr's 'spotlight initiative' in Strathclyde is not described as zero tolerance, although it shares some characteristics of the Bratton/Mallon paradigm, and saw reductions in serious crime of nearly ten per cent in its first few months. William Griffiths visited New York to find out which elements of Bratton's approach could be adopted by the Metropolitan Police, and discovered much common ground. However Charles Pollard, Chief Constable of Thames Valley Police, warns that zero-tolerance policing may have its pitfalls. The fall in crime could be more apparent than real: there may be a limit to the reductions in crime which it can achieve; and it may prove too confrontational to be of long term benefit. In his editor's introduction and in his detailed study (with Ray Mallon) of crime and culture in Hartlepool, Norman Dennis examines the ways in which the changing analysis of, and response to, crime can affect in fundamental ways our conception of what it is to live in a free society. "Worthy of a place in any police library and recommended reading for all." The Police Journal.

Zero Tolerance:Policing a Free Society (Choice in Welfare,No 35)

In the late 1980s concern over the validity of environmental claims led to demands for the creation of schemes that would provide the consumer with verified environmental information. In response, governments and private sector companies developed seal of approval 'ecolabels' purporting to denote the most environment-friendly products in a particular category. However, this book discusses the problem of how it is not possible to acquire sufficient information about the impact of a product over its life cycle to know in every case which product will be the most environment-friendly.

Green Goods?: Consumers, Product Labels and the Environment (Iea Studies on the Environment , No 8)

Morris, Julian

Legal and Historical Commentary

Tyrrell

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