This volume inquires about the consequences of the increased entry of government into economic activity. The contributors, including Armen Alchian, William A. Niskanen, James M. Buchanan, and Gordon Tullock, are concerned with dangers to the institutions of private property, with profit incentives, and with social interaction guided by principles of self-interest and open-market competition. Contributions are divided into three parts: economic problems, governmental policies, and the modern corporation and its critics. Topics include public attitudes toward free enterprise; inflation; unemployment; the political process; social security; government transfer spending; the efficiency of the modern corporation; and worker alienation and the structure of the firm.