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In this issue

Should the U.S. Patent System be mended or ended? Economist Arthur M. Diamond Jr. defends patents on moral and economic grounds, arguing that patents provide justice to inventors and financially enable them to innovate. Also in this issue: Ludwig von Mises on the World Trade Organization and the prospects for long-lasting free trade; what drove airline deregulation; the free-market cure for Argentina’s chronic inflation; Nassim Taleb’s unconstrained vision; a case for “cautious conservatism”, Tolstoy on the state, Christian anarchy, and pacifism; and reviews of books by Edmund Phelps, Ralph Nader, Bruce Yandle, Timothy Sandefur, and others.

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