OPINION: Mixed Drinks

The only living ex-U.S. President stirred up a wind last week.

The world, said Herbert Hoover to 1,800 U.S. editors and publishers in Manhattan, had drunk too deeply of the "mixed drinks" of three ghosts: "the shade of Karl Marx with his socialism, the shade of Mussolini with his dictated economy, the spook of Lord John Maynard Keynes with his . . . perpetual endowment for bureaucrats. And we have contributed an American ideology of giveaway programs. It might be called the New Generosity. It is not yet a ghost."

He did not reject the idea of government aid for the young...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!