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The book is part political polemic, part loosely logical philosophy, and (very small) part economic analysis. Despite its dramatic prose, many of the author's arguments are unconvincing, annoyingly redundant, very weak in their use of history, and highly selective in their empiricism. Stating what a chapter will do and then concluding at the end it has done so when the evidence in between is either weak or is based on circular reasoning is actually a common practice. Numbers are virtually non-existent despite many statements which suggest some quantitative work has been done.

This chapter argues that if Austrian economics is to attain the influence, impact, and esteem enjoyed by comparable traditions, it cannot continue to produce research that only and always reaches free market conclusions. While the foundational principles of Austrian economics are incompatible with socialism, this does not settle every policy question in favor of laissez-faire. Factors such as historical circumstances and the particularities of local contexts should lead Austrians to take seriously some arguments in favor of government intervention. Freed from its ideological shackles, Austrian economics can provide a powerful toolkit for positive, scientific research addressing the most important questions in contemporary political economy.

Culture shapes economic action and, as such, impacts economic life. Although there is a growing recognition amongst economists that culture matters, there is nothing approaching a universal agreement on how to incorporate culture into economic analysis. We provide a brief summary of how economists have discussed culture and then argue that Austrian School Economics is particularly well suited to contribute to our understanding of the relationship between culture and economic action. Indeed, Austrian economics has an advantage (1) because of its links to Max Weber’s approach to social science and (2) because of its emphasis on economics as a science of meaning. A Weber-inspired Austrian economics that stresses meaning, we argue, brings a focus on culture to the fore of economic analysis and opens the door for a progressive research program within cultural economics. Austrian economists can and have made significant contributions to our understanding of the relationship between culture and economic action. Moreover, we argue, explorations of the connection between culture and economic action can be a fruitful field of study within Austrian economics.

The question of the authority of the British Pharmaceutical Codex has recently been raised in Birmingham. Eight samples sold as “formalin throat tablets” contained amounts of formaldehyde ranging from 4 to 21 mgm.; only three of them contained 9·7 mgm., the amount ordered by the Codex. Two manufacturing firms informed the vendors that the tablets were made according to “their own private formula.” “Soda mint tablets” differed in composition. Some contained ammonium bicarbonate, as is required by the Codex; in others it was absent. In 1920 the Birmingham Pharmaceutical Association advised its members to use the Codex formula for “Extra strong Seidlitz powders.”—It is reasonable to expect that a drug bought from different pharmacies should be of the same composition. When the synonym is contained in the British Pharmaceutical Codex, published by the authority of the Pharmaceutical Society, the drug should be of the prescribed strength, unless the difference is declared by label. The Codex compilers should realise the results arising from the fixing of a standard for a popular drug. Ammoniated quinine tablets have been found to be almost devoid of the ammonium bicarbonate ordered by the Codex. According to the official reports, during the last ten years, 5·5 per cent. of “medicated lozenges and tablets” have been condemned.—The position of proprietary medicines is made more definite in the Act of 1938. Such an article is genuine if “supplied in response to a demand for that medicine” (section 4). Action can only be taken by a manufacturer if a substitute be sold under the name of his article. The recent practice, however, of avoiding stamp duty by giving the composition of the medicine on the label, has enabled action to be taken under the Food and Drugs Act, if the composition does not agree with the label. Two Birmingham samples illustrate this. An eye lotion was stated on the label to contain definite quantities of borax, boric acid, sodium salicylate and zinc sulphate. It contained about half the stated quantities. A rubbing lotion claimed to contain 94·8 per cent. of industrial alcohol, but only 77 per cent. was found. False claims have been made for vitamin contents. A sample of “cod‐liver oil tablets” was practically free from vitamin A, yet claimed to be “250 times as rich in vitamins as the very best butter.” In each case the article was sold by the vendor as received. Pharmacists should realise the risk of an action for “false label” when the composition of the article does not agree with the label. Had the recent proposals in the Budget been carried, it is probable that labels would have ceased to state the composition of medicines. If such a statement be not given, it would be impossible to protect a purchaser by action under the Food and Drugs Act. An important addition in the new Act is that an advertisement, as well as a label, is evidence as to the composition of a medicine. This should have a salutary influence on advertisements claiming, for instance, definite amounts of vitamins in drugs.

There is no argument among serious researchers that a mongoloid stock first colonized the New World from Asia. Nor is there controversy about the fact that these continental pioneers used the Bering Land Bridge that then connected the Asian Far East with Alaska.– Gerald F. Shields, et al.American Journal of Genetics (1992)

This chapter explores a number of relatively unknown aspects of the controversy over Milton Friedman’s March 1975 visit to Chile through the analytical framework provided by James M. Buchanan’s late 1950s assessment of the economist-physician analogy. The chapter draws upon a range of archival and neglected primary sources to show that the topics which generally rear their head in any contemporary discussion of Friedman’s visit to Chile – for example, whether it is appropriate to provide policy advice to a dictator – were aired in a largely private mid-1970s exchange between Friedman and a number of professional associates. In particular, the controversy over Friedman and Chile began several months before Friedman arrived in Santiago.

The virtual organization is upon us, or so we are led to believe. No longer will we have to worry about finding enough space for so many workstations, as people will be sitting in cyberspace waiting either to send or receive their next communication. It will not matter where in the universe someone is, provided that they can communicate. People will be working in physical isolation, but this does not matter as they can, yes you’ve guessed it, communicate! There is no doubting that communicating is good and absolutely necessary, but it is quality of communication which is needed, not just any old garbled message. Are standards of communication deteriorating? The media by which we are sending messages are improving, of that there is little doubt, but it is the content and usefulness of this content which must be brought to question.