The Managed Economy

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Capitalism, or whatever one cares to label the self-regulated, free-enterprise economy described by Adam Smith, is nothing but a myth today, says Mr. Reagan. Unfortunately, however, it is a very popular myth, and one which allows us to avoid facing many crucial realities. After demonstrating how necessarily "managed" our present systems of production and distribution are, this author furnishes an excellent review of American political thinking on the relationship of property, power, and personal freedom, from Jefferson to C. Wright Mills. He then proceeds to subject the functioning of corporations and government to a close analysis, and in his final section presents "recommendations for institutional reforms that would aid in revitalizing democratic control of economic power". Basically, his cogent plea is for a strengthened Executive branch: "Democratic planning, under Presidential direction, is freedom's visible hand". Even the reader who disagrees violently will find much to think about. (Kirkus Reviews)