New Individualist Review

In the fall of 1960, Ralph Raico, then a graduate working under F. A. Hayek at the University of Chicago, conceived the idea of starting an independent journal dedicated to promoting an open society and individual liberty. ... Hayek, Milton Friedman of the economics department, and Richard Weaver of the English department, agreed to serve as editorial advisers to the new review. ... In April 1961, the New Individualist Review was launched with Raico acting as editor in chief, Hamowy as book review editor, and McCarthy, Schuettinger, and Weicher as associate editors.

I had been infected by the libertarian virus since 1963, when I encountered New Individualist Review. It was in its pages that I learned of the tension on the American Right between classical liberals (or libertarians) and traditionalists. Prior to that time, I took myself to be a conservative, in some sense. Now I knew exactly in what sense.

Ralph started a quarterly student journal called New Individualist Review and served as editor-in-chief. Each issue featured about a half-dozen articles. The first issue appeared in April 1961. The lead article was "Capitalism and Freedom" by Milton Friedman. The second issue featured "Freedom and Coercion" by Hayek. And so it went, a cavalcade of scholarly stars, including three future Nobel Laureates. The authors included George Stigler, Yale Brozen, Karl Brunner, Henry Hazlitt, W.H. Hutt, David Levy, Walter Oi, Sam Peltzman, Wilhelm Roepke, B.R. Shenoy, Gordon Tullock, Joe Cobb, and E.G. West, in addition to Hayek and Friedman.