The Road to Freedom (30 page)

green jobs initiatives,
150

gross domestic product.
See
GDP (gross domestic product)

growth.
See
economic growth

Haidt, Jonathan,
44
,
46

happiness

charity and,
86–87

in earned success,
24–26

of entrepreneurs,
19–20

job satisfaction and,
34–35

money and,
20–24
,
28–30

pursuit of,
10–11
,
20

Hayek, Friedrich,
5
,
116

Head Start program,
99

health care premiums,
170–171

health care reforms,
7
,
164–165

health insurance companies,
127
,
129

hedonic treadmill,
23–24

helplessness, learned.
See
learned helplessness

Henrekson, Magnus,
108

high-speed rail,
129

homeless shelters,
88
,
118

housing crisis,
129
,
144–145

ILO (International Labour Organization),
108

immigration

earned success and,
56–57

policy reform,
146–147

immorality, of welfare system,
15–16

income.
See
money

income inequality

exaggeration of,
61–62
,
78

free enterprise and,
45

redistributive fairness,
48
,
51–52

income mobility,
53–57

income redistribution.
See
redistributive fairness

Industrial Revolution,
70–72

information asymmetries,
126–128
,
129

intellectual property,
120–121

International Labour Organization (ILO),
108

intervention, government.
See
government intervention

Japan, post–World War II,
21

Jefferson, Thomas,
10
,
11
,
15
,
52
,
115
,
116

job creation

core principles,
148–149

government growth and,
150

government intervention in,
151–152

moral argument for,
147–148

unemployment statistics,
148

unionization and,
150–151

job satisfaction,
34–35

Johnson, Lyndon B.,
97
,
99–100

Johnson, Robert,
27

Kipling, Rudyard,
64

Korea,
74
,
75

Lady Gaga,
120–121

Laffer Curve,
168–169

Laffer, Arthur,
168

learned helplessness,
15–16
,
30–31
,
39–40
,
175

life expectancy, GDP and,
75–76

Lincoln, Abraham,
57

loans, housing,
145

Locke, John,
10–11

Losing Ground
(Murray),
15

lotteries

state government,
121–122

winners of,
22–23

lower class,
57
,
82
,
88–89

luck,
53
,
55–56
,
58–60

Madoff, Bernie,
69

male midlife crisis,
29

Mao Tse-tung,
73
,
113

Marcus, Bernie,
36
,
37

market failures

externalities,
122–125

government intervention in,
128–132

information asymmetries,
126–128
,
129

monopolies,
119–122
,
129

public goods,
125–126
,
129

social capital for,
132–134

The Market for ‘Lemons'
(Akerlof),
127

Mason, George,
10

materialism

falsity in,
28–30

Founders' shift away from,
11

free enterprise and,
8–10

McGovern, George,
57–58

Medicaid

appropriate function of,
118

excessive expense,
100
,
163

reforming,
164

Medicare

appropriate function of,
117

excessive expense,
100
,
164

facts regarding,
158–159

reforming,
155–156
,
164–165

merit, in ultimatum game,
50–51

meritocratic fairness

defined,
47–48

embrace of,
63–64

example of,
50–51

luck vs.,
58–60

moral foundation of,
52–58

Microsoft,
120

middle class,
57
,
117
,
118
,
161

Milwaukee Co-operative Milk Producers,
40

minimum safety net,
116–119
,
174

Mischel, Walter,
37

money

earned by poorest citizens,
76–77

happiness and,
20–24

measurement of success,
27–28

materialism and,
28–30

unequal distribution of,
51–52

world distribution of,
72

money-back guarantees,
128

monopolies,
119–122
,
129

moral arguments

economic growth,
141–142

entitlement programs,
157–158

of Founders,
10–11

free enterprise,
8–10

job creation,
147–148

national debt,
152

rational justification for,
44–45

reactions to,
44–45

Soviet Union,
14

tax code reform,
166

Tunisian revolution,
12–13

welfare reform,
14–16

The Moral Basis of a Backward Society
(Banfield),
135

mortgage interest,
170–171

Murray, Charles,
15–16

Nader, Ralph,
84

National Bureau of Economic Research,
38
,
122

national debt

core principles,
153–154

discretionary spending,
156–157

entitlement reduction,
155–156

facts regarding,
153

federal workforce and,
157

history of,
4–5

increase in,
106–108

moral issue of,
152

national defense,
125

National Flood Insurance Program,
39

National Labor Relations Board (NLRB),
98
,
151

National Palace Museum,
113

National Recovery Administration (NRA),
99

NBC News,
96
,
102

negative effects, of welfare system,
15–16

New Deal,
97
,
98–99

New York Times
,
7
,
30

1984
(Orwell),
25

Novak, Michael,
72

Obama, Barack,
27
,
39–40
,
103
,
115–116
,
129
,
144
,
149
,
150
,
151
,
156
,
166
,
170

ObamaCare,
4
,
7
,
132
,
146
,
149

Occupy Wall Street demonstrations,
3
,
39
,
45
,
61
,
79–80

Ohio State University,
25

Okun, Arthur,
62

opportunity cost,
80–81

opportunity society

America as,
53–58

economic growth for,
142

moving away from,
60

See also
equal opportunity

Orwell, George,
25

Panel Study of Income Dynamics,
54

Pelosi, Nancy,
47–48

Perry, Mark,
53–54

policy measures

for economic growth,
144–147

impact on employment,
151–152

pro-union,
150–151

poverty

economic growth and,
142

free enterprise and,
72–74
,
76–77
,
80

prescription drugs,
117
,
118

price fixing,
120

price inflation,
161

productivity

capitalism and,
9

earned success and,
31–33

penalizing,
31
,
104–106
,
166

redistribution and,
62–63

profit, in earned success,
24–25

progressive taxation.
See
taxation

property,
10–11

prosperity

charity and,
85–86

opportunities for.
See
opportunity society

pro-union policies,
150–151

public goods,
125–126
,
129

punctuality,
83–84

punishments, taxation as.
See
productivity

pursuit of happiness,
10–11
,
20
,
29
,
40
,
41
,
142

Putnam, Robert,
136

rational justification, for moral reactions.
See
moral arguments

Reagan, Ronald,
14
,
99
,
107

redistributive fairness

charitable donations and,
82–83

defined,
47–48

disconnection from merit,
59–60

experiment in,
51–52

language of morality and,
9

unfairness of,
61–63

reform

entitlement,
153–154
,
155–156

health care,
7
,
164–165

Medicaid,
164

regulatory,
145

Social Security,
160–162

tax code,
144
,
146
,
151

welfare system,
14–16

regulatory barriers to business,
104–106
,
143–144

retirement

raising age for,
160

savings,
162

rewarding merit.
See
meritocratic fairness

road to serfdom

for Americans,
5–6

factors leading to,
7

The Road to Serfdom
(Hayek),
116

Rogers, Steven,
37