The Road to Freedom (31 page)

Roosevelt, Franklin D.,
15
,
97
,
98–99

Rubio, Marco,
69

sacrifice

in earned success,
36–38

welfare state and,
38–40

safety net

necessity of,
9
,
51
,
64
,
89
,
116
,
174

appropriate function of,
116–119
,
159
,

reform of,
158
,
161
,
162

Schumpeter, Joseph,
27

Schwab, Charles,
36

selfishness, of collectivist views,
81–85

self-sufficiency,
16

Seligman, Martin,
30

senior citizens

adequate care for,
162

Medicare and,
164–165

Social Security and,
118
,
158
,
161

Sherman Antitrust Act,
120

Shlaes, Amity,
99

Sidi Bouzid,
12

Sixteenth Amendment,
101

Smith, Adam,
11–12
,
23
,
62
,
119
,
120

social capital

in America,
134–136

government funding and,
136–137

market failure and,
132–134

social democracies

economic decline in,
108–110

features of,
100–101

penalizing productivity,
104–106
,
166

potential of,
5–6

shift toward,
97

See also
collectivist views

social engineering,
114
,
132
,
167

Social Security

facts regarding,
158–159

limiting,
96
,
117
,
118

reform of,
155–156
,
160–162

Retirement Earnings Test,
162

social status,
34

Solyndra,
150

soul, of work,
31–33

Soviet Union,
14

Spanish Socialist Workers Party,
101

Spain,
6
,
89

SSI (Supplemental Security Income),
118

Stalin, Josef,
25

Standard Oil,
120

statism

eroding social capital,
136–137

free enterprise vs.,
6

morality and,
9

negative effects of,
88–89

shift toward,
97–100

stimulus

package,
4
,
132
,
148
,
150
,
151

spending,
63
,
86
,
98
,
143
,
173

stock market crash (2008),
3

stress,
16
,
85
,
87
,
122

subsidiarity,
137

subsidies,
145
,
150
,
156–157
,
171

success

earned.
See
earned success

sacrifice in,
36–38

Supplemental Security Income (SSI),
118

TANF (Temporary Assistance for Needy Families),
118

Tame Duck
(Kaufman),
40–41

Tax Foundation,
103

taxation

American vs. European,
34

complexity of tax system,
167

consumption,
171–172

core principles,
167–168

corporate.
See
corporate taxes

estate,
57–58

facts regarding,
166–167

federal income,
101
,
102–103
,
144

loopholes,
170–171

measuring success and,
26

moral issue of,
166

penalizing productivity with,
104–106
,
166

personal reductions,
169–170

progressive,
102–104
,
160

redistributive fairness and,
48

reforming,
144
,
146
,
151
,
157
,
168–172

in social democracies,
100–101

social security and,
160

unearned punishment,
31

taxi medallions,
121

Tea Party rally,
3

teenage unemployment,
147–148

Telefónica,
121

Temporary Assistance for Needy Families (TANF),
118

Thatcher, Margaret,
107

The Home Depot,
36

The Theory of Moral Sentiments
(Smith),
11

Time
magazine,
33

time, giving of,
81–84
,
87
,
137

Tocqueville, Alexis de,
33
,
52
,
134–135

Too Big to Fail policy,
4

trust,
133–134

Tunisian revolution,
12–13

Twain, Mark,
106

ultimatum game,
48–50

uncertainty, economic decline and,
146
,
149

uncharitable behavior,
82–84

underprivileged,
15
,
53–55
,
71–73
,
88–89

unemployment

facts regarding,
148

government growth and,
150

government intervention in,
151–152

rising,
147–148

unionization and,
150–151

in welfare states,
6

unfairness

in free enterprise,
45

of income redistribution,
61–63

unhappiness, in learned helplessness,
30–31

unionization,
150–151

universal moral values,
45–47

upper class,
57
,
82
,
161

Urban Institute,
54

vacations,
35

Virginia Declaration of Rights,
10

voluntary contributions,
87–88
,
136–137

voting,
84

wage inflation,
161

Wall Street Journal
,
96
,
102

War on Poverty,
99

warranties,
128
,
130

Washington Post
,
96

Watergate scandal,
3

The Wealth of Nations
(Smith),
11
,
119

welfare states.
See also
entitlement programs

failure of,
6

learned helplessness in,
30–31

sacrifice and,
38–40

social democracy and,
100

welfare system reform,
14–16
,
118

Western artistic approach,
114

Wilde, Oscar,
106

Wilson, Woodrow,
97
,
98

work

American/European views,
33–35

earned success and,
31–32

free enterprise and,
33

good luck vs.,
55–56

soul in,
31–33

working class,
57
,
71

world distribution of income,
72

World Values Survey,
50
,
55–56

Yogananda, Paramahansa,
36