Fund-of-funds Books
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ANSI X12Review Date: 1999-11-23

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Shocking, repellant, more anxiety than a Hollywood thrillerReview Date: 2005-06-12
Early salvos were fired from selectively excerpting The Federalist, delivering the message that Publius was a battleground between Madison and Hamilton, when a full reading of The Federalist shows both clearly agreeing with the other. If even The Federalist harbored disagreements over the Constitution (which it didn't) then we may make anything we like of their resulting document. Carey makes it clear there were disagreements after ratification, notably between Hamilton and Madison over the national bank, for which a number of reasons are offered - e.g. that Madison was playing politics for personal gain. Carey also notes state-centric Anti-Federalists in opposition to a more national view proposed by Federalists. And on a variety of matters the Founders intentionally left only structure and process, through which prudence and good sense could arrive at reasoned decisions - a structure now nearly dismantled. But to claim there should be no controversy would be to cast human nature and valid critical thinking as something it can never be for divisive agendas.
Of greatest gravity to Carey is our Supreme Court's usurpation of power in violation of the Founder's intent, expectation and express definition by Hamilton. Anti-Federalists warned, "From this court there is no appeal" (but by amendment), so they pushed for a Bill Of Rights to "limit government", as did Jefferson, who later convinced Madison (which he had the power of personality to do). Hamilton argued against such a Bill because a definition of rights abrogates those not defined; definitions free from evasion are impossible; and contrary to intent such definitions expand a roll for enforcement, i.e. by the National government, precisely an entity they desired to curb. Informed by their knowledge of Rome, Federalists felt the danger was Congress, not the Court, thus they divided it. Ironically, what the Bill Of Rights created - pressed for by Anti-Federalists - was the Court they warned against following interpretations of "due process" from the 1868 Fourteenth Amendment eighty years later, which, ironically, concludes that Congress shall be the protector of individual rights. Thus the Court now legislates outside government by the people by not only saying "No" to what have become their subordinates, the States, but "No, and here's what you do to fix it." Thus as Carey argues, creating a tension between the Court's intrusion upon States and public consensus, a consensus Madison intended in his mixed system of National and State sovereignty.
Carey closes with an attack on Court abuse and our acquiescence to it, targeting the sensitive subject of abortion as one among many examples. Carey's point is to show Court overextension - which, he claims, the Court admits to - through the operation of a national minority taking control through the apparatus of a sympathetic Court in opposition to the people's will. However, he does reveal his position on abortion, stating that without reversal by Congress, "nothing will save us from our moral degeneration". Contrary to postmodern readings, Carey's admission does not by default make his abuse argument incorrect, though in American society such opinions are expected to be hidden to avoid easy dismissal. Carey goes on to say the "very nature of the issue involved must preclude even one state permitting abortion on demand", but it's unclear what nature precludes State sovereignty to determine their own laws outside national matters like war. (Though not equated with the innocent unborn - states still determine whether to carry out executions or not without national sanction.) Carey blames "secular scientific humanism" and natural rights philosophy as root. But humanism - professing that humans in and of themselves can find truth and goodness (i.e. without reference to God) gave way to Reformation, Hobbs, Locke and the notion our Founders should even attempt what they finally did. As Locke noted, the state exists not to promote people's spiritual salvation, but to serve its citizens and to guarantee their life, liberty, and property under a constitution. Carey appears to take issue with a lack of higher morality within the State - a valid concern for societies commandeered by Postmodern relativism and their kin in Constitutional revision. However, his target seems more appropriately directed at "positive liberalism", an extension beyond humanism with an autocratic sense of engaging the state for its "new morality" under the guise of assisting the individual. Carey does bring to fore inadequacies of our social models, abstracted (like scientific models of nature) in ways necessarily approximate to what we really are.
A stellar text. Prepare for sleepless nights, because if Carey is right (and all one need do is survey the modern Court and attitudes towards it), the American Republic is in Trouble. Raising the question of whether history may eventually repeat itself with a dictator as solution to tyranny of another sort.

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Invaluable.Review Date: 1998-10-08

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As timely as it is a welcome additionReview Date: 2003-07-15

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Ten years on, and it's still about documentsReview Date: 2007-12-27
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Great Book on the PLOReview Date: 1999-01-23

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Excellent ReadReview Date: 2008-06-16
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Great Advice!Review Date: 2005-10-16

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I feel newly empowered!Review Date: 2007-02-20

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Immensly inspiring for the futureReview Date: 2004-05-05
This is a very good book that can help us (society) come up with a better way of financing higher education. We should be in a world where anybody capable should be allowed to go to university. Unfortunately, there are so many barriers, and the highest one is probably the financing one, i.e. how to pay for the education we want to receive, and how not to solely depend on the governement to pay for it. This book explains in great details, with lots of supporting data, how the creation of a new type of securities, human capital contracts, can allow us to solve this problem.
It is tremendously inspiring, and should become an essential part of any policy maker's library.
Well done Miguel!!!
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