Back to the Land (eBook)

CJ Maloney (New York,?NY) is a vice president and portfolio manager at a Wall Street investment firm, and often provides background analysis and comments for leading finance writers. He writes regularly on economics, history, and politics for Mises.org, LewRockwell.com, Anti-War.com, Liberty magazine, New York Young Republican magazine, Crit Hit, and others (sometimes under the nom de plume Cyd Malone), and speaks before libertarian groups such as the NYC Campaign for Liberty, the Manhattan Libertarian Party, and Ivy League Alliance/Students for Liberty at Columbia University. He graduated from SUNY Old Wesbury with a degree in finance and NYU Stern School with a MBA in finance/accounting. Prior to his position with Neuberger Berman, he was with Lehman Brothers from 2000 until the firm's collapse where he managed $500 million in taxable and tax-free accounts after running the MAP trade desk. Previously, Maloney worked on the NASDAQ trade floor at Prudential Securities from 1998 to 2000. He served four years in the United States Air Force from 1987 to 1991.

Arthurdale from 1933 to 1947 vii

Acronyms Used in the Book ix

Introduction 1

Chapter 1 The Damnedest Cesspool of Human Misery 19

Chapter 2 The Angel of Arthurdale Arrives 55

Chapter 3 The Defi nition of Insanity 71

Chapter 4 We Lucky Few 91

Chapter 5 "Spending Money . . . Like Drunken Sailors" 107

Chapter 6 The Darkening of the Light 125

Chapter 7 "A Human Experiment Station" 151

Chapter 8 At Long Last, Arcadia 179

Epilogue: To the Victor, the Spoils 193

Acknowledgments 215

Notes 219

Bibliography 275

About the Author 285

Index 287

"A compelling history of one of the government's most
radical, if largely forgotten, domestic programs. . . . Maloney has
managed to finely balance the duties of the historian with the role
of storyteller. Instead of being bogged down by the (impeccable)
research that provides the book with so much valuable detail, he
uses this plethora of information to strong effect, highlighting
the human stories and the bigger picture impact that Arthurdale had
on both the area and the country, so that the reader feels less
like he is reading an economic history than a fascinating story
with a profound historical lesson. The writing has a smoothness and
ease that evades most books of similar historical depth. . .
Perhaps even more importantly, the book reveals a great sympathy
and understanding for the impoverished people who signed up to live
in a government-funded town. . . By sticking to the astonishing
historical record, Back To The Land avoids the pitfalls that plague
the ideologues who too often direct the national debate.
Ultimately, what makes the book so successful is that the story is
able to speak for itself."

-- The Brooklyn Rail

"Capably reveals the certain costs of central planning,
thus making Back to the Land an essential story for the political
class to understand better. As for the many who view government
spending as an economic good in its own right, Maloney's tale of
the costly creation of Arthurdale, West Virginia (a town built by
the federal government as a model for the nation) will surely give
them pause. . . Back to the Land is an interesting book, and even
better it's an important one for showing up close the bungling ways
of government officials. . . skillfully reminds us why we shouldn't
entrust our lives or treasure to those who work in
government."

-- Real Clear Politics

"Enlightening, well-written, and very timely book. . . .
In the year 2006, the mayor of the town of Tal Afar, Iraq,
chastised the government that invaded his country -- the
government of FDR's heirs -- by stating, "What you are doing
is an experiment, and it isn't right to experiment on people." No
it is not, which makes books like this one so important. Those who
do not know and understand history are condemned to repeat it. . .
Books like Maloney's that are factually accurate, economically
consistent, and engagingly written can help to reverse this
disturbing trend.

--Ludwig von Mises Institute