PERSPECTIVEnVIEWSnBefore You Bet Against the Market … 16nby Peter BrimelownA skeptic’s limited defense of economics in thennational interest.nWhose Wealth of Whose Nation? 19nby William R. HawkinsnThe case against unfettered trade.nPut Money in Thy Purse by Alan Reynolds 22nThe case for foreign investment.nThe Corporate Citizen by Anthony Harrigan 25nNational vs. transnational economic strategies.nOPINIONSnA Gildered Cage by Charlotte Low Allen 30nGeorge Gilder: Microcosm: The Quantum Revolutionnin Economics and Technology. Microchip asnmetaphor for unbounded free enterprise.nWalk in Beauty, Walk in Fear 33nby Gregory McNameenTony Hillerman: Talking God. An overview of onenof the West’s most popular novelists.nThe Family Way by John Wauck 36nMary Ann Glendon: The Transformation of FamilynLaw, State Law, and Family in the UnitednStates and Western Europe. Bad families make fornbad law.nREVIEWSnChilton Williamson on the eloquent pessimismnof George F. Kennan • We are still at warnover the Enlightenment, says Lee Congdon ofnJerry Muller’s The Other God That Smiledn• Don Feder sums up Nathaniel Branden’snaccount of the cult of Ayn Rand • VeronicanMakowsky’s bio of novelist Caroline GordonnChroniclesnA MAGAZINE OF AMERICAN CULTUREnBanana Republicans by Thomas FlemingnThe only justification for imperialism is success.nOurs has been a string of failures.n39nmakes nothing out of something, says LoxleynNichols • David Slavitt recommendsnNabokov’s Letters for all who have suffered undernan editor’s hatchet^ •n12nCORRESPONDENCE —nLetter From the Lower Right: Editing the 47nSouth by John Shelton ReednLetter From the Southwest: ‘Which Way Did 48nThey Go?’ by Odie FaulknVITAL SIGNS —-nThe Party’s Over by Janet Scott BarfownRacism at Stanford?nThe Beethoven Poster Casenby Jared TaylornOn Inequality: A Platonic Dialoguenby Halmuth SchaefernI^Lr/MVHVlLIN 1 JnPOLEMICS & EXCHANGESnCULTURAL REVOLUTIONSnPRINCIPALITIES & POWERSnby Samuel FrancisnPOETRYnAdmit Impediments by Jane GreernPoems Written on Hotel Stationerynby David R. SlavittnREVISIONSnBill Emmott: The Sun Also Sets: The Limits tonJapan’s Economic Power.nON THE COVERnCover and inside illustrations by Daniel Sweetman,nexcept where noted.nnn50n51n53n4n5n10n18n29n46nJANUARY 1990/3n