NORTHWESTERN UNIVERSITY EVANSTON, ILLINOIS THE COLLEGE OF LIBERAL ARTS August 1, 1946 Dr. Ludwig von Mises, 777 West End Avenue, New York 25, N. Y. My dear Dr. von Mises: Please accept my thanks for the copy of your address on planning for freedom which has just reached me. I find it very stimulating. Working out from detailed experience with systems of price control, public and private, I have come to share your dislike of inflexibilities in price, even when these are intended as correctives of unequal bargaining power. I have had little first-hand acquaintance with wage controls and have deliberately avoided carrying anti-control philosophy further than my own data will support. However, I miss in your paper a comment about another type of interventionism; namely, that which seeks to operate, not through the control of market prices, but through fiscal measures and public works programs, designed to compensate maladjustments in the economy. The failure of price as a steering mechanism is so conspicuous, particularly in times of depression, as to raise a substantial question whether we can find devices which will make up for the deficiencies of the market. The remedy is not to dis- pense with what the market actually accomplishes. May it not be to use with such non-market mechanisms? Cordially, Corvin D.Edwards Corwin D. Edwards CDE:jsb