One great challenge faced by liberal democracies is how best to regulate the interface between market choice and government behavior. Drawing on his extensive knowledge of history, law, and economics, Hoover senior fellow Richard Epstein examines this critical issue and discusses the need to find a middle way between socialism and libertarianism. In <i><a href="http://www.hooverpress.org/productdetails.cfm?PC=1097">Free Markets Under Siege: Cartels, Politics, and Social Welfare</a></i> (Hoover Institution Press, 2005) with clarity, force, and wit, Epstein shows</p>
<ul>
<li>How the truly great social catastrophes come from a wholesale disrespect for individual liberty and a total contempt for private property</li>
<li>How special interest groups, with the help of sympathetic politicians, manipulate free markets in their favor</li>
<li>Why losses incurred through the operation of competitive markets should not be compensated</li>
<li>Why even unilateral reform of trade barriers would reap great benefits for the United States</li>
<li>Rich in powerful insights, <i>Free Markets under Siege</i> can help us not only understand the world better but actually make every person in it better off—or capable of being so.</li>
</ul>
<p>Richard Epstein is the Peter and Kirsten Bedford Senior Fellow at the Hoover Institution and the James Parker Hall Distinguished Service Professor at the University of Chicago. He currently serves as interim dean of the Law School at the University of Chicago.</p>
<p><b><a href="http://www.hooverpress.org/productdetails.cfm?PC=1097">Free Markets under Siege: Cartels, Politics, and Social Welfare</a></b><br>
Edited by Richard Epstein<br>
ISBN: 0-8179-4612-8 $10.00 paperback<br>
100 pages March 2005</p>
