We were in the midst of the "stagflation" (stagnation combined with inflation) that

would two years thence be part of the reason for President Carter's defeat; but at this point our guests are voices crying in the wilderness, "attempting to explain to the American people," as Mr. Simon puts it, "whom I consider, at risk of offending them, economically illiterate," that "economic freedoms and personal and political freedoms are indivisible, that when the government takes over your substance it takes power over your liberty." An electric discussion of, to quote again from Mr. Simon, "the pattern [of] spend and spend, elect and elect, tax, regulate, and dominate our lives and our livelihoods."