From Deseret News archives:
Tyrants trying to subvert free markets
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Robert Reich, President Bill Clinton's labor secretary, said that economists who question free market theories really "want to speak to the reality of our time." That's incredible. Reality doesn't depend on whether it's 1907 or 2007. Reich probably thinks the reality of the laws of demand depends on what year it is. I wonder whether he thinks the reality of the laws of gravity does as well.
The ideas expressed by economists interviewed by Cohen, while out of the mainstream of a large majority of economists, are solidly in the mainstream of mankind's traditional vision. Throughout history, the right to pursue one's goals in a peaceable, voluntary manner, without direction, control and coercion, has won a hostile reception. There's little older in history than the idea that some should give orders and others obey.
Walter E. Williams is a professor of economics at George Mason University.
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