-Caveat Lector-

http://www.cato.org/special/stossel.html



At the close of the American Century, is America still number one?

That question will be asked in an ABC News Special Report. Among the
commentators featured will be the Cato Institute's Tom Palmer.

Palmer, director of the Project on Civil Society at the Cato Institute and
head of Cato University, the Cato Institute's educational program on
libertarian thought, will appear in "Is America Number 1?" The program,
hosted by ABC's John Stossel, will examine what makes the United States
different from the rest of the world. The report airs Sunday, September 19,
from 9:00 - 10:00 p.m. ET.

The broadcast sweeps the globe, with Stossel visiting India and Hong Kong in
order to examine their differences from and similarities with the American
system. The secret ingredient to national success is summed up by two words:
"economic freedom," says Nobel prize-winning economist Milton Friedman, who
also appears on the program.

What accounts for the American success story? Surely it is the relative
openness of the American economic, social, and political systems, in which
new ideas and approaches can be tried out. The freedom to try new approaches
implies the ability to succeed or to fail. A very revealing look at the
importance of the freedom to fail is found in the book Failure and Progress:
The Bright Side of the Dismal Science, by economists Dwight R. Lee and
Richard B. McKenzie. It should come as no surprise that many of America�s
greatest success stories have involved immigrants, who bring to the country
new ideas and approaches, as demonstrated by Julian Simon in Immigration:
The Demographic and Economic Facts and described by Stephen Moore in his
short commentary, Americanizing the New Americans. Openness to the
importation of goods is also important to the success of an economic and
social system, as various authors demonstrate in Freedom to Trade: Refuting
the New Protectionism, edited by Edward L. Hudgins, Cato�s director of
regulatory studies. You can see how America compares to other countries in
terms of an open economic system in Economic Freedom of the World: 1975-1995
by James D. Gwartney, Robert A. Lawson, and Walter E. Block. Not only do
dynamic economies and social systems rest on a foundation of freedom and
openness, but so too does the very enterprise of science, an enterprise that
is under siege, as scientists Steven Milloy and Michael Gough make clear in
Silencing Science. And mathematician Guy Calvert, in his study of gambling
regulation Gambling America: Balancing the Risks of Gambling and Its
Regulation, notes that risk taking and the taste for gambling may be part of
what makes human society progressive, entrepreneurial, and dynamic, and that
attempts to eliminate risk taking behavior may be futile.

But having an open society does not mean that everything is always up for
grabs. In fact, what makes possible such an open and dynamic society is an
underlying stable system of constitutionally limited government and the rule
of law. The relationship of an open civil society to limited government is
described by Cato president Ed Crane in Defending Civil Society and by Roger
Pilon, director of Cato�s Center for Constitutional Studies, in The Purpose
and Limits of Government. Of course, one can always consult directly the
founding documents of the American experiment in individual liberty and
limited government, by means of Cato�s convenient pocket edition of the
Declaration of Independence and the Constitution of the United States. (A
short commentary on the significance of the Declaration of Independence to
America today is provided by Edward L. Hudgins in Picnics and Politics:
Celebrating the Fourth.) The historical background to the American heritage
of limited government is described by Cato�s Tom G. Palmer in his essay from
the Cato Handbook for Congress, Limited Government and the Rule of Law. The
philosophy behind this view of the relationship between government and
society is described by Cato executive president David Boaz in his book Libe
rtarianism: A Primer.

Special for High School Students: Eat the Rich: A Treatise on Economics, a
hilarious and deeply insightful book by Rolling Stone writer and Cato
Institute H. L. Mencken Research Fellow P. J. O�Rourke, shows why some
countries prosper and others languish in poverty. For high school students
only, the Cato Institute has published and distributes at no charge a
special abridged student edition. Others should contact their local
bookstores or visit Laissez Faire Books. As Forbes magazine noted, "Adam
Smith-like perceptiveness combined with a wicked wit makes for delightful,
insightful reading . . .This book lets you laugh and learn at the same
time."
http://www.cato.org/special/stossel.html

Bard

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