THEnGOVERNMENTnAGAINSTnTHEnECONOMYnGeorge ReismannForeword bynWilliam E. SimonnThe defense of capitalism is serious business.nIf you are an advocate of the free market, butnthink it needs to be better explained than it has been,nthen you need George Reisman’s book The GovernmentnAgainsl the Economy.nIn just 207 pages Professor Reisman presents anbrilliantly clear, irresistably persuasive exposition ofnfree-market price theory, along with a devastatingnanalysis of recent government assaults on theneconomy through policies of inflation and price controls.nTHEORY AND PRACTICEnWith flawless precision and logical rigor, Reismanndevelops free-market principles, and then makesnthem come alive in brilliant explanations of virtuallynevery aspect of the energy crisis, rent controls andnhousing shortages, and the chaotic economic conditionsnof Soviet Russia. In the spirit of an earlynmodern scientist debunking the superstitious mythsnof the Dark Ages by reasoning from well-establishednprinciple, Reisman takes on the contemporary intellectualnestablishment and news media and theirneconomic mythology. He proves how a free marketnwould make shortages absolutely impossible andnprovide increasing abundance for everyone. Alongnthe way he shows why the ecology movement is notnonly wrong in its claim of “limits to growth,” but isnalso a threat to the improvement of man’s environment.nRELENTLESSLY LOGICAL,nMANIFESTLY EMPIRICALnIn page after page, sentence after sentence, younwill be led to understand free-market principles, andnthen see them illustrated in the rich detail of currentnevents. In all cases, the government’s policies arenshown to hamper and destroy the smooth functioningnof the market, to decrease the well-being ofneveryone, and to deserve full responsibility for theneconomic problems now being blamed on the freenmarket. Subchapter headings from The GovernmentnAgainst the Economy demonstrate that nonsacred cows are spared from Reisman’s analysis:n• Why There Are No Limits to Progress in a FreenEconomyn• Why the Arab Oil Embargo Would Not HavenBeen a Threat to a Free Economyn• Price Controls as a Cause of Warn• Hoarding and Speculation Not Responsible fornShortagesn• The Destruction of the Utilities and the OthernRegulated Industriesn• The Campaign Against the Profits of the OilnCompaniesn• How the U.S. Government, Not the Oil Companies,nCaused the Oil Shortagen• The Conspiracy Theory of Shortagesn• How Repeal of Rent Controls Would RestorenHarmony Between Landlords and Tenantsn• How Price Controls Actually Raise Pricesn• The Case for the Immediate Repeal of Rent Controlsn• The Prosperity Delusion of Price Controls; ThenWorld War II “Boom”n• The Real Solution To InflationnHow to argue FOR capitalismnandnA GAINST the mixed economynTwo books in one: a primer on free market economicsnand a dissection of current economic eventsnIT’S YOUR FUTUREnIn the last third of The Government Against thenEconomy you will get a vivid and memorablendemonstration of the ultimate consequences of pricencontrols if present policies continue. Reismanndescribes the chaos created by partial price controls,nthe imposition of universal price controls to correctnthe chaos created by partial controls, and the de factonsocialization of the economic system that mustnfinally follow. The chaos and tyranny of sociahsm,nits necessary reliance on terror and forced labor, andnits ultimate collapse in the absence of outside aid arenall discussed in an impassioned detail that shouldnmake every lover of freedom want to stand up andnfight for capitalism.nWHAT THE REVIEWERS HAVE SAID:n• Every commentator on current affairs who is notna fully trained economist ought to read this booknif he wants to talk sense. I know no other placenwhere the crucial issues are explained as clearlynand convincingly as in this book.n— F. A. Hayek, Nobel Laureate innEconomics for 1974n• This is one of the most powerful and convincingnbooks I know. Its explanations are brilliantlynclear; its analyses are lethal; it is uncompromising.n—Henry Hazlitt, Author, former Newsweel<ncolumnist and New York Times financialneditorn• The book is lucid throughout; the effects of pricencontrols are described in prose as clear as it isnchilling. Reisman’s book would serve as an excellentnintroduction to economic thinking.n—Barron’sn• The best introduction to real economic understandingnI know of. The exposition is irresistablynpersuasive.n—Human Eventsn• Dr. Reisman gives us Economics 101 as it shouldnbe taught.n—Reasonn«… a good, concentrated course in economics fornthe intelligent noneconomist.n—Chronicles of Culturen• I dipped into Reisman’s book soon after it arrived,nquickly became hooked, and finishednreading it in short order. It does a magnificentnjob of explaining general economic interdependencenand the logic of the price system.n—Leland Yeager, Professor of Economics,nUniversity of Virginian• I began to dip into The Government Against thenEconomy and soon found my attention riveted tonit. I then dropped almost everything else until Inhad read it through. An absolutely first classnwork.n—Arthur Shenfield, Former Chairman,nConfederation of British Industriesn• The best account of the idiocy of price controlsnthat I have read anywhere.n— D. T. Armentano, Professor ofnEconomics, University of Hartfordn• One is struck by a feeling of profound respect fornthe explanatory power of abstract principles.n— The Intellectual Activistn• The simplest, clearest, and most retainable expositionnof the function of prices that I have evernread. The book can be read either as a textbooknor as a dissection of current economic events; duento Dr. Reisman’s thorough integration of theorynwith practice, it is both.n— The Objectivist ForumnFOR THE SERIOUS DEFENDERnOF CAPITALISM . . .nThe Government Against the Economy will givenyou an arsenal of intellectual ammunition. It is anbook to be read and referred to many times whennconfronting today’s economic issues. The book isnnot written in the scholarly pretentious, tediouslynmediocre style of today’s academic journals andnbooks. Rather, it is lucid, lively, and easily graspednby the intelligent layman. In The GovernmentnAgainst the Economy you will enjoy the excitementnof intellectual discovery, led step by step by thenmind of a brilliant economist.nOrder your copy today and join the ranks of thenserious defenders of capitalism.nFREE—with each order received bynNovember 1; “Capitalism: The Cure fornRacism,” a ten thousand word essay bynGeorge Reisman reprinted from ThenIntellectual Activist.nEnclosed is my • check or • money order for $14.70 ($12.95 plus $1.75 postage and handling)nfor The Government Againsl the Economy. (California residents add 6% sales tax.)n1 understand that if 1 am not satisfied, I may return the book within 15 days for a full refund.nNamenAddressnCitv State 7,innTHE POLITICAL ECONOMISTnp. O. Box 2478, Mission Viejo, CA 92690 Bnnn