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What President Clinton Should Have Said to the Japanese, Part 2

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Part 1 | Part 2 | Part 3 After the Japanese attack on Pearl Harbor, the U.S. government arrested American citizens of Japanese descent, placed them in American concentration camps, and confiscated their assets. There were no indictments. There were no trials. There were no convictions. These Americans were simply rounded up, taken away, and incarcerated. To our government's credit, these people were not killed, as the German government did to the Jews that it placed in German concentration camps, but it was still wrong to jail people who had not committed — or been accused of committing — any crimes. I know that many of you had relatives who suffered this horrible tragedy. On behalf of the U.S. government, I apologize for what we did. Unfortunately, the power to round up innocent Americans during war and place them in concentration camps is still the law of the land in ...

Book Review: Market Liberalism

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Market Liberalism: A Paradigm for the 21st Century edited by David Boaz and Edward H. Crane (Washington, D.C.: Cato Institute, 1993); 404 pages; $15.95. As the 20th century approaches its end, the American people face the challenge of deciding their political and economic future. Socialism has been defeated. The experience of the centrally planned, command economy has proven that an economic system comprehensively controlled by the state is unworkable and breeds corruption and the abuse of power. But while socialism of the soviet-type has few adherents anymore, the interventionist and welfare state is still considered as a viable and desirable option in comparison to an unregulated, free-market economy. Indeed, winning the battle against statism is more difficult when the opponent is the welfarist, managed economy rather than the more blatantly brutal Marxist-style regime. When the enemy was ...

What President Clinton Should Have Said to the Japanese, Part 1

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Part 1 | Part 2 | Part 3 I am deeply grateful for the opportunity to visit Japan and to speak to you, the Japanese people, during my first year as president of the United States. I am here not only to fortify friendships between our nations, but also to announce major changes regarding relations between the U.S. and Japan. For many years, politicians and bureaucrats have believed that trade is a win-lose situation. We have believed that whenever two people enter into an economic exchange, one of them will win from the exchange and the other will lose. Thus, we have always viewed economic activity as a form of warfare between people. But politicians and bureaucrats have been wrong. Trade between individuals is actually a win-win situation for the people entering into the exchange. A person will exchange something he values less for something he values more. For example, suppose a person owns ten apples and another owns ten ...

Book Review: Welfare Economics and Externalities in an Open Ended Universe

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Welfare Economics and Externalities in an Open Ended Universe: A Modern Austrian Perspective by Roy E. Cordato (Boston: Kluwer Academic Press, 1992); 140 pages. Classical liberals and libertarians have traditionally argued that government should be limited to certain essential functions for the sake of social order: police protection against domestic criminals, military force for security against foreign aggression, and a court ...