Adam Smith. John Stuart Mill. Lord Acton. William Ewart Gladstone. The Case Against Goldwater's Economics LIBERTARIANS ALL What is Senator Goldwater's eco- on the problems he poses. If a rebut- Shown here are statesmen nomic philosophy? Are some of his tal designed to swing votes were re- and economists who have, economic proposals "contradictory," quired, I should have to disqualify says Professor Samuelson, as critics have charged? Two weeks myself on the grounds of tempera- upheld the "Economic Lib- ago in an article in these pages, "The ment and competence. For such a ertarian" doctrine ascribed Goldwater View of Economics," one task would require, among other to Senator Goldwater. In of his chief economic advisers, Milton things, a careful documentation that Friedman, a professor at the Univer- Professor Friedman's view of Gold- Friedrich A. von Hayek. England, the theories of sity of Chicago, argued that the Re- water's economic position and Gold- the economist Smith, phi- publican Presidential candidate's eco- water's actual economic position-as losopher Mill and historian nomic ideas fit a well-defined set of expressed in voting over a dozen years Acton were put to work by principles and offered his interpreta- and in writing and speeches are Prime Minister Gladstone; tion of them. Below, another leading quite different things. in the U.S., Libertarianism's economist, a professor at Massachu- intellectual leaders have setts Institute of Technology, presents K NOWLEDGEABLE people who been Professors Hayek and a reply to Professor Friedman. are themselves enthusiastic about Friedman, a Goldwater aide. trade unions and about the Social Security trends of our times will be By PAUL SAMUELSON astounded to read Milton Friedman's words that Senator Goldwater is not more one studies the T against. Social Security or labor un- speeches and writings of Sen- ions. To many of them, this will seem ator Barry Goldwater, the more an odd interpretation. But actually, if confusing and contradictory one finds you understand the vantage point from them to be. Therefore, those of us which Milton Friedman looks at Barry with open minds must feel grateful Goldwater, you will understand these to Prof. Milton Friedman for his statements: in his many scholarly Milton Friedman. heroic attempt to show that the Sen- writings, Dr. Friedman has expressed ator does have a coherent and basic the views that trade unions, as they the beholder-and SO is ugliness. Sup- philosophy underlying his changeable Severely limited functions have are now functioning, are not a good pose we grant, merely for the sake to be given to the state, and ex- pronouncements. thing for the community or even for of the dialogue, that Friedman's in- cept for national defense and a few Even those of us with closed minds the workers as a whole. But that does terpretation of Goldwater and of the other functions, these should be pri- can hope to benefit from the exercise. not mean he is against trade unions national G.O.P. ticket in 1964 were marily located in the local commu- Goldwater's opponents can know what as such. Stripped of their powers to essentially correct. How should that nity. it is they are against. But the great- interfere with competitive pricing of predispose an undecided voter - say In the view of a minority of the est beneficiary of all, I dare to sug- labor, unions may continue to exist one who has voted for all Republican more humanitarian (or sentimen- gest, is the Senator himself. It used as fraternal organizations to promote candidates since Hoover except Lan- tal!) Libertarians, certain minimum to be said of the German philosopher, Gemütlichkeit and innocent merri- don? standards of life and opportunity Hegel, that he did not truly under- ment. stand his own philosophy until he Senator Goldwater's attitude in 1964 A should be provided for the citi- FTER careful deliberation, I find zenry. read the French translation. President can be fairly described by what Fin- Economic Libertarianism - which is The Libertarian philosophy is one Franklin Roosevelt used to say in ley Peter Dunne said about the atti- the Friedman version of Goldwater- I know well. I was brought up on it some seriousness, "How do I know tude in 1900 of employers toward ism-more extreme from the stand- as an undergraduate at the Univer- what I think until I hear myself say- unions: point of the mainstream of American sity of Chicago, and have studied it ing it?" In our streamlined year of Mr. Hennessey: But these open- political tradition than the real thing in the writings of Friedrich von 1964, this must be revised to read, shop min say they're f'r unions. itself. According to my understanding Hayek, Ludwig von Mises, Frank "How do I know what I think until Mr. Dooley: Shure, if properly of it, the essence of Economic Lib- Knight, Henry C. Simons and Milton I hear my adviser saying it conducted. No strikes, no rules, no ertarianism is this: Friedman himself. Because Professor Friedman poses contracts, no scales, hardly iny Laissez faire, in the sense of max- At the age of 17 (in the depths of basic issues that transcend this one wages an dam few mimbers. imum dependence on market pric- the greatest Depression a modern na- election campaign, I have been glad Let me turn now from personalities ing, should regulate all economic tion has ever experienced), I found to respond to the request to comment to issues. Beauty is oft in the eye of life. this Utopia (Continued on Page 131) 28 THE NEW YORK TIMES MAGAZINE