Atlas Investor Report- Winter 2001

1. A Quarterly Insider Update WINTER 2001
Atlas Economic
Research Foundation
Inside
Atlas Anniversary
Celebration.......4-5
Promoting Liberty
in Turkey .............6
New Contacts in
Eastern and
Central Europe...7
Building Bridges: In 1996, the Association for Liberal Thinking (Turkey) was the host for Atlas’s 28th
International Workshop in Istanbul. The program included a panel on “Islam and a Free Society” featuring,
from left: Antony Sullivan (Earhart Foundation), Mehmet Aydm (Ege University, Turkey), and Imad
Ahmad (Minaret of Freedom). For more on the Association for Liberal Thinking, see p. 6.
Intotaldarknessacandlecreates
a lot of light.
S
ince September 11, I have thought
oftenoftheadageabove,whichmany
ofuslearnedfromLeonardRead,the
founder of the Foundation for Economic
Education.Insteadoffearingthedarkness,
we must conquer it and be on the look
out for the many new lights that will
inevitably arise from the rubble.There is
something in tragedy that obliges us to
focusonthemysteryoflifeandthepower
of freedom, and the result can be truly
inspiring.
As a forthcoming biography onAntony
Fisher recounts, it was tragedy that
motivatedhisdedicationtothefreesociety
andultimatelyledtothefoundingofAtlas.
When Antony was only two, his father
was killed while patrolling in Gaza.Then,
during World War II, he witnessed the
deathofhisonlybrother incombat.These
losses permanently alteredAntony’s view
of the world.
I was never touched by violent death so
directly, but I was inspired to devote my
life to the free society after witnessing
first-hand the terrorist campaign to take
over Argentina in the seventies. Before
that,my dream was to join a corporation
andlivea“normal”life,butterrorchanged
myperspective.Irealizedthatnormallives
require institutions of freedom to create
stabilityandopportunity. Forthisreason,
combating terrorism was the topic of the
very first article I ever published in the
United States, with the encouragement
andhelpofmymentorDr.HansSennholz
of Grove City College (“War Without
End,”TheFreeman,January1979).
I narrate the above because I have faith
the events of September 11 will
encourage new “Antony Fishers” to
commit their life and resources to
promoting the values of the free society.
Manyofourfriends,atinstitutesallover
the world, are already playing positive
roles in promoting policies against terror
and in the long term, the work of all the
institutes and scholars we support will be
essential. Some of the most potent
weapons against terrorism,such as a rule
of law respectful of property and liberty,
takedecadestodevelop. Afteraperiodof
abuses of power and politicization of the
instruments of justice in the U.S.,efforts
to restore the rule of law must begin at
home,butglobaleffortsalsoarebecoming
more urgent. In Atlas’s international
operations, we support independent
groups that have earned their credibility
on their own turf; it is they who are best
able to positively influence the climate of
ideas in their home countries.
• • • •
We are very sympathetic to the view of
Adam Meyerson, President of
Philanthropy Roundtable, that more
resources must be devoted to nurturing
pro-freedomgroupsintheIslamicworld.
Over the last decade, Atlas has been
conducting programs that build common
ground with Islam around shared values
on market economics (see p. 8). In the
wake of September 11, we have been
actively canvassing our databases and
contacting friends to gain new leads on
people and organizations that can help us
enhance these efforts.
Our past work provides us with a good
guide for investing resources in Muslim
outreach, including: providing grants to
institutes both here and abroad;
supporting policy fellowships and
scholarships; funding university courses
that bring a free society perspective to
Islamic teachings; and developing and
promoting Muslim publications and web
pages that highlight groups and ideas that
seekcollaborationandtolerationwiththe
West.
Atlas is about bringing freedom to the
world. Times have changed, our
commitmenthasnot.
From the
President’s Desk
H
avingtraveledtheglobeandmetpeoplefromwonderfullydiverse
backgrounds,Ihavelongbelievedthereisnopartoftheworldwecan
affordtoignore,orwhichissodifferentfromourownthatwecannot
findcommongrounduponwhichtobuildabetterunderstandingoffreedom.
ThisiscertainlytrueoftheIslamicworld.Aftertheeventsofthepastfew
months,thedifferencesbetweenMoslemsocietiesandtheWestmayseemto
someanunbridgeablegulf,butthehistoryofIslamteachesusthereismuch
withinthephilosophicalandintellectualunderpinningsofthatfaithwhich
makesitverycompatibletothevaluesandideasAtlas,andtheAtlasnetwork
ofinstitutes,seektopromote.
Theruleoflaw,dueprocessandprotectionofprivatepropertyrightshave
animportantplaceinIslamicthought.ThefounderofIslam,Mohammed,
wasamerchantandcaravanowner,andtheprinciplesofcommercewere
centraltohisviewoftheworld.LiketheWest,theIslamicworldsharedinthe
harvestofHellenisminphilosophyandscience,andwasfurtherenrichedby
the Persian literary culture.During the MiddleAges,Islamic cities of the
MiddleEastandCentralAsiawerethemostadvancedinmedicine,production
andexchange,anditisfromIslamicsocietythatEuropeeventuallyadopted
manyinnovationsinmedicine,philosophy,andscience,aswellasmanufacturing
methodsandbusinesspractices.
Sadly,theIslamicworldultimatelysufferedacalamityfromwhichEuropeans
werespared–inclusioninalargepoliticalempire,theOttoman.Inadditionto
repressingmuchoftheeconomicdynamismthathadmarkedtheIslamic
world,theOttomanSultansdecreedtheendofinterpretationofIslamiclaw.
FromthetimeofMohammed’sdeath,therehadbeenmultipleschoolsof
Islamiclawthatcompetedininterpretationtocontinuetoimprovethelawto
answernewquestions.TheevolutionandprogressofIslamiclawhadbeenthe
basis forArab Islam’s GoldenAge,but by closing interpretation,freezing
Islamiclawinthe16th
century,theOttomansbroughtthatenlightenederato
anend.
ThereverberationsofOttomanimperialdominationcontinuetobefelt
throughout the Islamic Middle East today,compounded by the effects of
European colonialism, which left a legacy of bureaucracy, controls and
regulation,andMarxistideologyinitswake.Suchsetbacks,however,havenot
extinguishedtherichpotentialofIslamicsociety.
Middle East Outreach
Overthelastdecade,Atlashasbeenworkingquietly,butconsistently,to
increaseourcontactsintheMiddleEastandtodevelopandnurtureprograms
withIslamicrelevance.Theseeffortshaveincluded:
•Atlas’sfirstprojectintheMiddleEast,thedonationofclassicalliberalbooks
totheSt.George’sLibraryinJerusalemin1992.
• Hostingour28th
InternationalWorkshopinIstanbul,Turkey,inSeptember
of1996,followingthegeneralmeetingoftheMontPèlerinSocietyinVienna,
Austria, with workshops that included: “Islam and the
FreeSociety”and“ReligionandtheMarketEconomy”.
• SponsoringtheShalemCenter(Israel)translationofHayek’s
The Road to Serfdom into Hebrew in 1996.
•WorkingwithTheFundforAmericanStudies(Washington,
D.C.),whichoverthepastfewyearshasexpandeditssummer
seminarsintotheEasternMediterranean.Theseminars,which
havebeenheldinGreece,recruitstudentsfromthroughout
theMiddleEast,aswellasfromTurkeyandtheBalkans.Ihave
hadthepleasureoflecturingattheprogramoneyearandhavebeenvery
impressedbythequalityofboththeprogramanditsparticipants.
• Supporting,through the Freedom Project,two courses which explore
issuesrelatedtoIslamandfreedom.
In addition to these and other formal efforts,we have always sought to
expandourownknowledgeoftheIslamicworld,andtoincreaseourcontacts
intheregion,wheneverpossible:
•InFebruary,1997,IparticipatedintheNationalEndowmentforDemocracy
conference,“Islam,DemocracyandtheChallengeofGlobalization,”atthe
Foundation du RoiAbdulzziz al-Saoud Pour Les Etudes Islamiques et Les
SciencesHumaines,Casablanca,Morocco.Freemarketideasandeconomic
growthwerecentraltothediscussion,whichincludedacademicsandthink
tankleadersfromthroughouttheIslamicworld.
• InNovemberof1997,Atlas’sAlexChafuentraveledtoCairofor“Howto
MarketIdeas:AMiddleEastThinkTankConference.”Theconferencewas
sponsoredbytheCenterforInternationalPrivateEnterprise(CIPE)ofthe
U.S.ChamberofCommerce,incooperationwiththeEconomicDevelopment
InstituteoftheWorldBankandtheEgyptianCenterforEconomicStudiesand
included participants from economic think tanks throughout the Middle
East,alongwiththinktankandbusinessleadersfromEuropeandtheU.S.
• InDecember1997,theBecketFundforReligiousLiberty(Washington,
D.C.)organizedamajorconferenceintheMiddleEastwiththesupportofthe
BradleyFoundation.Participantsincludedreligiousleadersofvariousfaiths,as
wellasmanyAmericanscholars,includingmyself.
ThefirsthalfoftheconferencetookplaceinJerusalemandwasdirectedby
Becket Fund president, Kevin Hasson, Esq.The second half was held in
Amman,Jordan,underthechairmanshipofCrownPrinceHassan.Afollow-
upconferenceisscheduledforWashington,D.C.in2002.
InthewakeofSeptember11,Atlasisworkingtobuildupontheseeffortsto
supporttheworkofourfriendsandalliesintheIslamicworld.Togetherwe
willcontinuetomoveforward,promotingthevaluesandinstitutionsofthe
freesocietythatarethebestdefenseagainstterrorandviolence.
Professor Leonard P. Liggio is ExecutiveVice President of Atlas. For a list of
books and articles relating to the history of Islam and theWest, and the
relationship between Islam and free markets, visit the AtlasWeb site.
Reaching Out to the Islamic World
A World of Ideas
Leonard P. Liggio
Atlas’s Leonard Liggio, second from left, participating in the National Endowment for
Democracy’s conference, “Islam, Democracy and the Challenge of Globalization,” in
Casablanca, Morocco. Also pictured, Mohamed Charfi (Morocco), Fouad Benseddik
(Tunis) and Thomas Friedman (The NewYork Times).
8 | Atlas Investor Report

2. Atlas Economic
Research Foundation
The Atlas Economic Research
Foundation works with think tanks and
individuals around the world to advance a
vision of a society of free and responsible
individuals, based upon private property
rights, limited government under the rule
of law and the market order.Atlas is a
nonprofit 501(c)(3) organization that is
supported solely by donations from
individuals, foundations and corporations.
Board of Directors
William Sumner (Chairman)
John Blundell
Timothy Browne
Alejandro Garza Lagüera
George Pearson
Hon. James Arthur Pope
René Scull
Linda Whetstone
Staff
Alejandro A. Chafuen
President &
Chief Executive Officer
Leonard P. Liggio
Executive Vice President
Executive Director,
Freedom Project
Bradley A. Lips
Vice President &
Chief Operating Officer
Jo Kwong
Director of Institute Relations
Nikolai Wenzel
Director of Academic Programs
Teresa Brown
Director of Public Affairs
Colleen Dyble
Institute Relations Associate
Chris Martin
Academic Programs Associate
Tara Karpinski
Assistant to the President
Joyce Schroeder
Office Manager
Carol Coulter Davis
Financial Assistant
Atlas Senior Fellows
William Dennis
Paul K. Driessen
Becky Norton Dunlop
Julieta Moreno
Deroy Murdock
4084 University Drive, Suite 103
Fairfax,Virginia 22030-6812
703-934-6969 - Phone
703-352-7530 - Fax
www. atlasUSA.org
atlas@atlasUSA.org
Westholm Joins Fisher Award Panel of Judges
Dr. Carl-Johan Westholm has agreed to join the panel of judges for Atlas’s Sir Antony Fisher
International MemorialAwards for Public Policy Institutes.Westholm, who serves on the board of
Timbro(theSwedishFreeMarketFoundation),isthelong-timesecretaryoftheMontPèlerinSociety.
TheFisherAwards,namedforAtlas’sfounder,honorinstitutesthatproduceoutstandingpublications
overtheprevioustwoyearsandisawardedintwocategories:NewInstitutes,forthosefiveorlessyears
old,andEstablishedInstitutes,forthoseoverfiveyearsold.
Atlasiscurrentlyacceptingnominationsforthe13th
annualFisherAwards,whichwillbepresentedat
our2nd
AnnualLibertyForuminPhiladelphia,April10,2002.Formoreinformationontheprogram,
visittheAtlasWebsite,orcontactouroffice.
Staff News
ChrisMartinjoinedAtlasthisfallasAcademicProgramsAssociate.AgraduateofYaleandof
CambridgeUniversity,Chrisholdsamaster’sdegreeinEuropeanhistory.Heworkedpreviouslyin
businessandpublishing,andwasaKochFoundationsummerfellowin1997.
AninterviewwithLeonard Liggio,Atlas’sExecutiveVicePresident,appearedintheSeptember3
issue of the nationally-published Serbian magazine economist (www.ekonomist.org.yu). In the
interview,LeonardtalksaboutSerbia’sroadtorecoveryandofferssomethoughtsabouttheprospectsfor
liberalisminthecountry.HealsodiscussestheInternationalFreedomProjectgrant-winningcourse,
FreedomandDevelopment,whichisbeingofferedthroughBelgradeUniversitywiththesupportofthe
CenterforLiberal-DemocraticStudies(Yugoslavia).
Upcoming Atlas Events
April 10-11, 2002 – 2nd
AnnualAtlas Liberty Forum, Philadelphia
October 11-13, 2002 –Atlas InternationalWorkshop, Spain
Intellectual Property Rights Seminar: Atlas President and CEO Alex Chafuen, left, traveled to Brazil in August to
participate in Instituto Liberal do Rio de Janeiro’s international seminar on intellectual property rights, co-sponsored by Atlas.
Also pictured (from left): Luiz Felipe Lampreia, former Secretary of Foreign Affairs, Brazil; Carlos Fernando Gross, a Brazilian
entrepreneur; José Graça Aranha, president of the National Industrial Property Institute (Brazil); and Paulo de Barros Stewart,
president of the Instituto Liberal do Rio de Janeiro.
To keep up with the latest Atlas news, visit the Atlas Web site at www.atlasUSA.org
2 | Atlas Investor Report
Of Note
I At the Acton Institute for the
Study of Religion and Liberty
(Michigan) anniversary dinner in
October, Rev. Robert Sirico offered
reflections on the interaction of faith
and freedom as the source of the
United States’s strength, and keynote
speaker Tony Snow discussed the moral
foundation of the country. To order an
audio copy of the dinner program, visit
the Acton Web site at
www.acton.org
I The Center for Restructuring Gov-
ernment at Pioneer Institute (Mas-
sachusetts) has been renamed in
honor of the late Ray Shamie. In his
work as a humanitarian, philanthro-
pist, entrepreneur, and political activ-
ist, Shamie personified the values of
freedom, personal responsibility, and
competition that are the foundation of
the center’s work.
I Galen Institute (Virginia)
trustee, John Hogg, has been named
U.S. Deputy Assistant Secretary for
Planning and Evaluation at the Depart-
ment of Health and Human Services,
in charge of the Office of Disability,
Aging, and Long-Term Care Policy.
I M e d i c a r e ’ s
Midlife Crisis, by In-
stitute for Health
Freedom president
Sue Blevins, has
been published by the
Cato Institute
(Washington, D.C.).
In it, Blevins looks at
the history of Medicare, from the po-
litical maneuvering and misleading as-
sertions that got the original program
enacted, and then examines the fund-
ing crisis, coverage gaps, and bureau-
cratic problems Medicare faces today.
I The Heritage Foundation
(Washington, D.C.) has released its
2002 edition of The Index of
Economic Freedom. Published jointly
with the Wall Street Journal, it is a
practical reference guide to the
economies of 161 countries. For more
information on the Index, visit
www.heritage.org
In Pursuit of Liberty:
Think Tanks Around the World
Jo Kwong
Though there have been many changes since the
terrorist attacks on the U.S. in September, the
essentialactivitiesofAtlashavenotwavered. Infact,it
seems that there’s a newfound interest at all levels of
societyinwhathasseemedofcrystal-clearimportance
toAtlas and its supporters for a long time:advancing
andprotectingthebasicprinciplesofafreesociety.
Theruleoflawunderlimitedgovernment,freeand
openmarkets,individualresponsibilityandcivilsociety
– these are the tenets that allow the human condition
to flourish to its greatest capacity,by enabling people
ofdifferingbeliefstolivetogether,worktogether,and
co-existpeacefully.Truemarketsdonotdiscriminate,
butinstead,enableexchangetooccurevenamongthe
mostdiverseactors.Theruleoflawdoesnotholdsome
people to be more important than others, based on
skin color, gender, societal-position or otherwise.
Limitedgovernmentenablesgovernmenttofocuson
whatitdoesbest–protectthelivesandpropertyofits
citizens. Other activities, which are best handled by
freeandresponsibleindividuals,detractfromthisvital
task.
Atlas promotes these ideas through each of its
programsbydiscovering,developingandmobilizinga
disparatenetworkofindividualsandorganizationsthat
shareourbeliefsandcommitment.Whentheterrorist
attacksstruck,IwasinBratislava,Slovakia,foranAtlas
policy forum which proved to be a wonderful
opportunitytodiscovernewallies.
TheBrastislavameeting,Corruption:StrategicResponses
for Public PolicyThinkTanks, was held just prior to the
MontPèlerinSociety’sregionalmeetinginthatsamecity.
Inplanningthatprogram,wewereremindedthatthere
aremanypotentialpartnersanduntappedresourcesthat
can work alongside Atlas in its worldwide efforts to
promotefreedom’smessage.
Over and over at the event, we heard people
expressingsurpriseathowmanyotherindividualsand
institutes in Central and Eastern Europe share their
goals and ideals. Too often, these freedom advocates
have been working in isolation from one another. It
was exciting to see the connections being made and
the synergies already developing during the event.
Thereissomuchtheycanlearnfromoneanotherand
greatpotentialforcollaboration–theyjustneededan
opportunity like this to bring them together.
Throughout the program,we heard the comment,
“Someoneneedstosharethisgoodinformation!”And
so,Atlas rose to the initial challenge. We asked the
programparticipantstosendusinformationabouttheir
activities and agreed that Atlas would compile the
informationintheformofanelectronicnewsletter.To
date, we have sent out two editions of the electronic
Central and Eastern Europe Newsletter. The October
2001 edition featured news from two independent
institutesinRomaniathatworktopromotefreedomideals:
LudwigvonMisesInstituteandtheRomanian
AcademicSociety,bothinBucharest.Thesearejust
twoofthehandfulofbuddinginstitutesthatareworking
inRomania.Long-timeAtlascolleague,PaulFudulu,for
example,recentlyrelocatedhisRomanianInstitute
forStudyofPublicChoicetoBucharest,aswell.
TheNovembereditiondescribednewactivitiesfrom
the Institute of Municipal Democracy and
HumanRights(Ukraine);IndependentInstitute
of Socio-Economic and Political Studies
(Belarus), and Centre for the New Europe
(Belgium). As long as our European partners send us
theirinformation,wewillcontinuetosharethenews.Of
course, our hope is that someone in the region will
eventuallytakeupthejobanddoitinamuchmoredetailed
andleveragedway. Butuntilthattime,Atlasishappyto
stepuptotheplate. Ifyouwouldliketobeaddedtothis
mailinglist,pleaseletmeknow. Iwouldbedelightedto
seeourEuropeancontactlistgrowtenfold…ormore!
Atlas Network Expanding
in Eastern and Central Europe
Christian Comanescu, president of the Ludwig von Mises
Institute, left, and Sorin Ionita from the Romanian Academic
Society mingle in Bratislava.
Atlas Investor Report | 7

3. Businessman Norberto Priú, a trustee of ESEADE,BuenosAires,
Argentina’spioneerMBAschool,hasmadea$5milliondonationto
thefounderofESEADE,AlbertoBenegasLynch,Jr.tohelphimstarta
newindependentresearchcenterwhichwillfocusonthestudyofthe
philosophicalfoundationsofthefreesociety.Theinstitutewillbenamed
afterF.A.Hayek,whowasalongtimeallyof,andinspirationfor,Benegas
Lynchandhisschool.
Benegas Lynch has an unparalleled record inArgentina and Latin
Americaasanunflinchingchampionoffree-marketthinking. Author
of many best-selling books, a member of theArgentineAcademy of
Economic Sciences, and a member of the board of the Mont Pèlerin
Society,BenegasLynchwillbeabletocapitalizeondecadesofintellectual
investments inArgentina.He will also provide a place for long-term
path-breakingmarketorientedresearchbysomeofthemanyscholars
hehelpedduringhiscareer.
“It is difficult to know who should receive more congratulations,
BenegasLynchorhisgenerouspatron,”AtlaspresidentandCEOAlex
Chafuensaid.“Botharewellworthyofemulationaroundtheworld.”
Martín Krause, a long time friend of Atlas and winner of several
TempletonFreedomProjectawards,willreplaceBenegasLynchasthe
new dean of ESEADE, which will continue its tradition of providing
mastersdegreeswithsoundeconomicfoundations.
ThisdonationtopsthepreviouslargestgifttoanArgentineanmarket-
orientedinstitution. In1999,JuanCarlosBachiochi,provideda10-year
lease of a “Cato Institute- type” building for Fundación Libertad, in
Rosario,intheprovinceofSantaFé. Bachiochialsodonatedfundsfor
Argentine Benefactors Reward
Free-Market Leaders and Institutions
Alberto Benegas Lynch, Jr., pictured here with F.A. Hayek in the late 1970s, will act as
director of the new research center being funded by Norberto Priú.
refurbishingthebuilding,whichbroughtthemarketvalueofthegiftto
$1million. (Foratourofthebuildinggotowww.libertad.org.ar/
fundacion/tour.htm)
TheseriousandprincipledworkofBenegasLynchandESEADE,as
well as Fundación Libertad, headed by our colleague Gerardo
Bongiovanni, is rekindling the philanthropic traditions of this South
Americancountry.
The development of donor-advised funds represents an
important innovation in U.S. philanthropy. Through various
community foundations, as well as larger organizations such as
Fidelity Charitable Trusts, American donors are able to
immediately receive the tax benefits of allocating funds for
charitable giving that may ultimately be distributed over a longer
term.While the funds have been legally released by the donor,
such organizations honor donor requests about how to later
distribute the funds,as long as the recipients are legally recognized
as charities in the United States.
In 1999, Atlas aided in the development of Donors Trust, an
independent 501(c)(3) organization that offers donor-advised
funds, among other philanthropic services, to those who wish to
support U.S. organizations that “preserve America’s greatest
assets:our founding principles of limited government,individual
freedom,and free enterprise.” See www.donorstrust.org for
more information.
Atlas itself can serve in a similar capacity to a donor-advised
fund in our specific area of supporting the work of market-
oriented think tanks in foreign countries as well as in the U.S.
After all, the essential component of Atlas’s mission involves
helping – through funding and advisory services – new and young
institutes get off the ground.
Raising Funds for Foreign Institutes
Atlasisalwayssearchingforwaystoextendourworkbygenerating
supportforthinktankshereandabroad. Accordingly,weencourage
inquiries from U.S.donors who also wish to support the work of
foreign think tanks. Atlas will make every effort to help support
foreign efforts as long as they are consistent with our mission and
the laws governing 501 (c) (3) organizations.
In light of the events of September 11,
Atlas is working to expand and enhance
think tank efforts to promote under-
standing and cooperation between the
West and the Islamic world. To receive
an outline of the projects and programs
Atlas is developing, please contact our
office, or visit the Atlas Web site.
Building Bridges to the Islamic World
Atlas Investor Report | 3
The Association for LiberalThinking (ALT)
beganin1992asaninformalgatheringofa
handfulofTurkishintellectualswhorejectedthe
socialistandcollectivistideologywhichdominated
theircountry.
“There were five of us, united in our shared
commitment to private property, free market
economics,andlimitedgovernment,whilethe
rest of the intellectual community believed the
opposite.Wehadallfeltisolated,butincoming
togetherwefoundthestrengthtobelievewecould
makeadifference,”remembersALT’sfounderand
directorAtillaYayla.“Thatwasthebeginningofthe
AssociationforLiberalThinking.Wehadnomoney,
nooffice,nocommunicationfacilities,nostaff–butplentyofhopeanda
noblegoal:Toestablishachainofacademicsandintellectualswhowould
defendandpromoteclassicalliberalideas.”
From that modest beginning,ALT has grown into one ofAtlas’s most
successfulthinktankpartners.Despitelocalhostilitytoindividualrightsand
the free market, which has occasionally translated into harassment and
interferenceintheorganization’sactivities,Yaylaandhisteamofdedicated
youngpeoplehavepersevered,helping introducetheclassicalliberaltradition
toTurkeyandmakingvaluablecontributionstointernationalscholarshipon
thefreesociety.
Since its founding, the ALT has maintained an impressive publishing
schedule,producingbothtranslationsofimportantfreemarketandclassical
liberaltexts,andoriginalscholarshipbyTurkishauthors.Theorganization’s
quarterly journal,LiberalThought,draws contributions from leading free
marketthinkersfromaroundtheworld.
LikealloftheinstitutesintheAtlasnetwork,ALTrecognizedfromthe
beginningtheimportanceofnotsimplyofferingupfreemarketandclassical
liberalideasforpublicconsumption,butalsotakingtheextrasteptoprovide
theintellectualgroundingandcontextforthoseideaswithintheirownsociety.
InTurkey,apredominantlyMuslimcountry,this
hasmeantactivelyengagingwiththeissueofIslam.
TheALThasproducedgroundbreakingworkon
therelationshipbetweenIslamandcivilsociety
and on the relationship between Islam and the
freemarket.
In 2000, the ALT’s Islam, Civil Society, and
MarketEconomywasawardedAtlas’sSirAntony
FisherInternationalMemorialAward.Thebook,
editedbyYayla,containsacollectionofarticlesby
British, Australian and Turkish scholars that
examine the relationship between Islam,
democracyandfreedom.Inconjunctionwiththe
publicationofthebook,ALTorganizedaseriesof
half-daypaneldiscussionsontheissue,whichtheyhostedincitiesaround
Turkey,takingdirectlytothepeopletheideathatIslamiscompatiblewiththe
market economy and liberal democracy.In addition to the public panel
discussions,ALTspeakersspentextradaysineachtownmeetingwithopinion
leaders,doingmediainterviewsandvisitingothercivicorganizations.
IntheiroutreacheffortsALThasalwaysfocusedconsiderableattentionon
reaching young people.Each year the institute hosts two ten-week-long
“Introduction to Liberalism” seminars, which introduce undergraduate
studentstotheideasandtraditionsofclassicalliberalismandfreemarket
economics.Toreachstudentsoutsidethecountry’scapital,theALThasalso
developedintensiveweekendseminarswhichbringtalentedundergraduates
fromthroughoutTurkeytoAnkara,wheretheyhavetheopportunitytohear
thecountry’sleadingintellectualsdiscussthephilosophicalfoundationof
liberty,themarketeconomyandliberaldemocracy.
With the popularity of the seminars,ALT has recently expanded the
program, organizing special programs for political parties, civil society
organizations,andotherassociations.Seminartopicshaveincluded:classical
liberalism,theruleoflaw,andliberaldemocraticconstitutions.
Promoting Liberty in Turkey
Atlas’s Alex Chafuen looks over the Turkish translation of Facts Not Fear: A Parents’
Guide to Teaching Children About the Environment with ALT’s Gozde Ergozen Unlu,
who spent time in the U.S. as an Atlas Fellow.
Atilla Yayla, founder and director of the Association for Liberal Thinking lectures to a
group of students. Yayla’s course was a Freedom Project grant recipient in 2000.
Institute Profile
Association for Liberal Thinking
GMK Bulvari, 108/17 Maltepe
Ankara 06570
TURKEY
liberal@ada.net.tr
www.liberal-dt.org.tr
6 | Atlas Investor Report

4. Atlas Family Gathers for 20th Anniversary Celebration
Event with Sir John Templeton Draws Friends and Supporters from Around the World
20th
Anniversary
Host Committee
Acton Institute for the Study
of Religion & Liberty
Mrs. Dorian Adams
Aequus Institute
Fausto Alzati
Americans for Technology
Leadership
America’s Home Place, Inc.
Bruce and Giovanna Ames
Derwood & Johanna Chase
Chase Investment
Counsel Corp
William Clement
The Fund for American
Studies
The Heritage Foundation
Aseguradora
Hildalgo, S. A.
J.P. Humphreys Foundation
Jeld-Wen Foundation
JM Foundation
Jordan Vineyard & Winery
Charles G. Koch Charitable
Foundation
Ruth & Lovett Peters
Foundation
Philip Morris Companies
John William Pope
Foundation
Roger R. Ream
Thomas A. Roe Foundation
Menlo F. Smith
Stephanie Smith Lee
William Sumner
Sunmark Foundation
Wente Vineyards Helen Blackwell, Morton Blackwell, Paul
Edwards, Stephanie Lee, Gen Lee, Judy Scanlon,
Terry Scanlon, and Reed Larson applaud Sir John
Templeton’s keynote address.
Sir John Templeton delivers the evening’s keynote
address. Following his remarks, Sir John participated
in a discussion with Hernando de Soto, right.
Sir John Templeton, the guest of honor, center,
with Reed Larson and Sarah Atkins.
Atlas’s Alex Chafuen with Gonzalo Castro,Michael
Novak,Hernando de Soto,and Charles Harper.
Atlas’s Leonard Liggio with Margo Edwards,
Paul Edwards and Fran Griffin.
Charles Harper, Executive Director of The John
Templeton Foundation, left, with Arrington
Dixon and his guest.
Atlas Board Chairman Bill Sumner, left, with
John Von Kannon and Sir John Templeton.
David Keyston,left,greets Linda and Ed Feulner.
Excerpts from Sir John
Templeton’s keynote address,
“Can Free Competition Enrich the
Poor and Also Teach Ethics?”:
“The great struggle between
mental control from the top and
freedom has been won by
freedom, and the reason it has
been won in most of the areas
of the world is the good work
of people in the organizations
represented here tonight.”
“Over twenty years ago, my
friend Antony Fisher, the
founder of Atlas, helped me
understand better the benefits
accrued by all people world-
wide, from keeping government
small and by continually open-
ing wider the incentives for
innovation, efficiency and
discovery which result from
more free competition.”
“I donate to the Atlas Founda-
tion as a way to help over 100
other think tanks that are
working to help people under-
stand the benefits of free compe-
tition. Invention is one of those
benefits. Creativity is another.
These are stimulated and
rewarded under free competi-
tion, which is a major reason
why free competition enriches
the poor.”
Video recordings of Sir John’s
speech, as well as his conversation
with Hernando de Soto, are avail-
able. For more information please
contact Atlas.
Atlas Senior Fellow Deroy Murdock, right, with
David Nott, Alex Beehler, Paul Beckner, and
David Boaz.
Rev. Robert Sirico, president of Acton Institute for the
Study of Religion and Liberty, delivers the invocation.
Bob Mottice,LynnTaylor,JohnTaylor,Richard Kerr,
Amy Buick, Bill Erickson, Kristina Crane, and Ed
Crane gather prior to the dinner program.
Guests watch the new Atlas promotional video,which
was shown during dinner.
4 | Atlas Investor Report Atlas Investor Report | 5

5. Atlas Family Gathers for 20th Anniversary Celebration
Event with Sir John Templeton Draws Friends and Supporters from Around the World
20th
Anniversary
Host Committee
Acton Institute for the Study
of Religion & Liberty
Mrs. Dorian Adams
Aequus Institute
Fausto Alzati
Americans for Technology
Leadership
America’s Home Place, Inc.
Bruce and Giovanna Ames
Derwood & Johanna Chase
Chase Investment
Counsel Corp
William Clement
The Fund for American
Studies
The Heritage Foundation
Aseguradora
Hildalgo, S. A.
J.P. Humphreys Foundation
Jeld-Wen Foundation
JM Foundation
Jordan Vineyard & Winery
Charles G. Koch Charitable
Foundation
Ruth & Lovett Peters
Foundation
Philip Morris Companies
John William Pope
Foundation
Roger R. Ream
Thomas A. Roe Foundation
Menlo F. Smith
Stephanie Smith Lee
William Sumner
Sunmark Foundation
Wente Vineyards Helen Blackwell, Morton Blackwell, Paul
Edwards, Stephanie Lee, Gen Lee, Judy Scanlon,
Terry Scanlon, and Reed Larson applaud Sir John
Templeton’s keynote address.
Sir John Templeton delivers the evening’s keynote
address. Following his remarks, Sir John participated
in a discussion with Hernando de Soto, right.
Sir John Templeton, the guest of honor, center,
with Reed Larson and Sarah Atkins.
Atlas’s Alex Chafuen with Gonzalo Castro,Michael
Novak,Hernando de Soto,and Charles Harper.
Atlas’s Leonard Liggio with Margo Edwards,
Paul Edwards and Fran Griffin.
Charles Harper, Executive Director of The John
Templeton Foundation, left, with Arrington
Dixon and his guest.
Atlas Board Chairman Bill Sumner, left, with
John Von Kannon and Sir John Templeton.
David Keyston,left,greets Linda and Ed Feulner.
Excerpts from Sir John
Templeton’s keynote address,
“Can Free Competition Enrich the
Poor and Also Teach Ethics?”:
“The great struggle between
mental control from the top and
freedom has been won by
freedom, and the reason it has
been won in most of the areas
of the world is the good work
of people in the organizations
represented here tonight.”
“Over twenty years ago, my
friend Antony Fisher, the
founder of Atlas, helped me
understand better the benefits
accrued by all people world-
wide, from keeping government
small and by continually open-
ing wider the incentives for
innovation, efficiency and
discovery which result from
more free competition.”
“I donate to the Atlas Founda-
tion as a way to help over 100
other think tanks that are
working to help people under-
stand the benefits of free compe-
tition. Invention is one of those
benefits. Creativity is another.
These are stimulated and
rewarded under free competi-
tion, which is a major reason
why free competition enriches
the poor.”
Video recordings of Sir John’s
speech, as well as his conversation
with Hernando de Soto, are avail-
able. For more information please
contact Atlas.
Atlas Senior Fellow Deroy Murdock, right, with
David Nott, Alex Beehler, Paul Beckner, and
David Boaz.
Rev. Robert Sirico, president of Acton Institute for the
Study of Religion and Liberty, delivers the invocation.
Bob Mottice,LynnTaylor,JohnTaylor,Richard Kerr,
Amy Buick, Bill Erickson, Kristina Crane, and Ed
Crane gather prior to the dinner program.
Guests watch the new Atlas promotional video,which
was shown during dinner.
4 | Atlas Investor Report Atlas Investor Report | 5

6. Businessman Norberto Priú, a trustee of ESEADE,BuenosAires,
Argentina’spioneerMBAschool,hasmadea$5milliondonationto
thefounderofESEADE,AlbertoBenegasLynch,Jr.tohelphimstarta
newindependentresearchcenterwhichwillfocusonthestudyofthe
philosophicalfoundationsofthefreesociety.Theinstitutewillbenamed
afterF.A.Hayek,whowasalongtimeallyof,andinspirationfor,Benegas
Lynchandhisschool.
Benegas Lynch has an unparalleled record inArgentina and Latin
Americaasanunflinchingchampionoffree-marketthinking. Author
of many best-selling books, a member of theArgentineAcademy of
Economic Sciences, and a member of the board of the Mont Pèlerin
Society,BenegasLynchwillbeabletocapitalizeondecadesofintellectual
investments inArgentina.He will also provide a place for long-term
path-breakingmarketorientedresearchbysomeofthemanyscholars
hehelpedduringhiscareer.
“It is difficult to know who should receive more congratulations,
BenegasLynchorhisgenerouspatron,”AtlaspresidentandCEOAlex
Chafuensaid.“Botharewellworthyofemulationaroundtheworld.”
Martín Krause, a long time friend of Atlas and winner of several
TempletonFreedomProjectawards,willreplaceBenegasLynchasthe
new dean of ESEADE, which will continue its tradition of providing
mastersdegreeswithsoundeconomicfoundations.
ThisdonationtopsthepreviouslargestgifttoanArgentineanmarket-
orientedinstitution. In1999,JuanCarlosBachiochi,provideda10-year
lease of a “Cato Institute- type” building for Fundación Libertad, in
Rosario,intheprovinceofSantaFé. Bachiochialsodonatedfundsfor
Argentine Benefactors Reward
Free-Market Leaders and Institutions
Alberto Benegas Lynch, Jr., pictured here with F.A. Hayek in the late 1970s, will act as
director of the new research center being funded by Norberto Priú.
refurbishingthebuilding,whichbroughtthemarketvalueofthegiftto
$1million. (Foratourofthebuildinggotowww.libertad.org.ar/
fundacion/tour.htm)
TheseriousandprincipledworkofBenegasLynchandESEADE,as
well as Fundación Libertad, headed by our colleague Gerardo
Bongiovanni, is rekindling the philanthropic traditions of this South
Americancountry.
The development of donor-advised funds represents an
important innovation in U.S. philanthropy. Through various
community foundations, as well as larger organizations such as
Fidelity Charitable Trusts, American donors are able to
immediately receive the tax benefits of allocating funds for
charitable giving that may ultimately be distributed over a longer
term.While the funds have been legally released by the donor,
such organizations honor donor requests about how to later
distribute the funds,as long as the recipients are legally recognized
as charities in the United States.
In 1999, Atlas aided in the development of Donors Trust, an
independent 501(c)(3) organization that offers donor-advised
funds, among other philanthropic services, to those who wish to
support U.S. organizations that “preserve America’s greatest
assets:our founding principles of limited government,individual
freedom,and free enterprise.” See www.donorstrust.org for
more information.
Atlas itself can serve in a similar capacity to a donor-advised
fund in our specific area of supporting the work of market-
oriented think tanks in foreign countries as well as in the U.S.
After all, the essential component of Atlas’s mission involves
helping – through funding and advisory services – new and young
institutes get off the ground.
Raising Funds for Foreign Institutes
Atlasisalwayssearchingforwaystoextendourworkbygenerating
supportforthinktankshereandabroad. Accordingly,weencourage
inquiries from U.S.donors who also wish to support the work of
foreign think tanks. Atlas will make every effort to help support
foreign efforts as long as they are consistent with our mission and
the laws governing 501 (c) (3) organizations.
In light of the events of September 11,
Atlas is working to expand and enhance
think tank efforts to promote under-
standing and cooperation between the
West and the Islamic world. To receive
an outline of the projects and programs
Atlas is developing, please contact our
office, or visit the Atlas Web site.
Building Bridges to the Islamic World
Atlas Investor Report | 3
The Association for LiberalThinking (ALT)
beganin1992asaninformalgatheringofa
handfulofTurkishintellectualswhorejectedthe
socialistandcollectivistideologywhichdominated
theircountry.
“There were five of us, united in our shared
commitment to private property, free market
economics,andlimitedgovernment,whilethe
rest of the intellectual community believed the
opposite.Wehadallfeltisolated,butincoming
togetherwefoundthestrengthtobelievewecould
makeadifference,”remembersALT’sfounderand
directorAtillaYayla.“Thatwasthebeginningofthe
AssociationforLiberalThinking.Wehadnomoney,
nooffice,nocommunicationfacilities,nostaff–butplentyofhopeanda
noblegoal:Toestablishachainofacademicsandintellectualswhowould
defendandpromoteclassicalliberalideas.”
From that modest beginning,ALT has grown into one ofAtlas’s most
successfulthinktankpartners.Despitelocalhostilitytoindividualrightsand
the free market, which has occasionally translated into harassment and
interferenceintheorganization’sactivities,Yaylaandhisteamofdedicated
youngpeoplehavepersevered,helping introducetheclassicalliberaltradition
toTurkeyandmakingvaluablecontributionstointernationalscholarshipon
thefreesociety.
Since its founding, the ALT has maintained an impressive publishing
schedule,producingbothtranslationsofimportantfreemarketandclassical
liberaltexts,andoriginalscholarshipbyTurkishauthors.Theorganization’s
quarterly journal,LiberalThought,draws contributions from leading free
marketthinkersfromaroundtheworld.
LikealloftheinstitutesintheAtlasnetwork,ALTrecognizedfromthe
beginningtheimportanceofnotsimplyofferingupfreemarketandclassical
liberalideasforpublicconsumption,butalsotakingtheextrasteptoprovide
theintellectualgroundingandcontextforthoseideaswithintheirownsociety.
InTurkey,apredominantlyMuslimcountry,this
hasmeantactivelyengagingwiththeissueofIslam.
TheALThasproducedgroundbreakingworkon
therelationshipbetweenIslamandcivilsociety
and on the relationship between Islam and the
freemarket.
In 2000, the ALT’s Islam, Civil Society, and
MarketEconomywasawardedAtlas’sSirAntony
FisherInternationalMemorialAward.Thebook,
editedbyYayla,containsacollectionofarticlesby
British, Australian and Turkish scholars that
examine the relationship between Islam,
democracyandfreedom.Inconjunctionwiththe
publicationofthebook,ALTorganizedaseriesof
half-daypaneldiscussionsontheissue,whichtheyhostedincitiesaround
Turkey,takingdirectlytothepeopletheideathatIslamiscompatiblewiththe
market economy and liberal democracy.In addition to the public panel
discussions,ALTspeakersspentextradaysineachtownmeetingwithopinion
leaders,doingmediainterviewsandvisitingothercivicorganizations.
IntheiroutreacheffortsALThasalwaysfocusedconsiderableattentionon
reaching young people.Each year the institute hosts two ten-week-long
“Introduction to Liberalism” seminars, which introduce undergraduate
studentstotheideasandtraditionsofclassicalliberalismandfreemarket
economics.Toreachstudentsoutsidethecountry’scapital,theALThasalso
developedintensiveweekendseminarswhichbringtalentedundergraduates
fromthroughoutTurkeytoAnkara,wheretheyhavetheopportunitytohear
thecountry’sleadingintellectualsdiscussthephilosophicalfoundationof
liberty,themarketeconomyandliberaldemocracy.
With the popularity of the seminars,ALT has recently expanded the
program, organizing special programs for political parties, civil society
organizations,andotherassociations.Seminartopicshaveincluded:classical
liberalism,theruleoflaw,andliberaldemocraticconstitutions.
Promoting Liberty in Turkey
Atlas’s Alex Chafuen looks over the Turkish translation of Facts Not Fear: A Parents’
Guide to Teaching Children About the Environment with ALT’s Gozde Ergozen Unlu,
who spent time in the U.S. as an Atlas Fellow.
Atilla Yayla, founder and director of the Association for Liberal Thinking lectures to a
group of students. Yayla’s course was a Freedom Project grant recipient in 2000.
Institute Profile
Association for Liberal Thinking
GMK Bulvari, 108/17 Maltepe
Ankara 06570
TURKEY
liberal@ada.net.tr
www.liberal-dt.org.tr
6 | Atlas Investor Report

7. Atlas Economic
Research Foundation
The Atlas Economic Research
Foundation works with think tanks and
individuals around the world to advance a
vision of a society of free and responsible
individuals, based upon private property
rights, limited government under the rule
of law and the market order.Atlas is a
nonprofit 501(c)(3) organization that is
supported solely by donations from
individuals, foundations and corporations.
Board of Directors
William Sumner (Chairman)
John Blundell
Timothy Browne
Alejandro Garza Lagüera
George Pearson
Hon. James Arthur Pope
René Scull
Linda Whetstone
Staff
Alejandro A. Chafuen
President &
Chief Executive Officer
Leonard P. Liggio
Executive Vice President
Executive Director,
Freedom Project
Bradley A. Lips
Vice President &
Chief Operating Officer
Jo Kwong
Director of Institute Relations
Nikolai Wenzel
Director of Academic Programs
Teresa Brown
Director of Public Affairs
Colleen Dyble
Institute Relations Associate
Chris Martin
Academic Programs Associate
Tara Karpinski
Assistant to the President
Joyce Schroeder
Office Manager
Carol Coulter Davis
Financial Assistant
Atlas Senior Fellows
William Dennis
Paul K. Driessen
Becky Norton Dunlop
Julieta Moreno
Deroy Murdock
4084 University Drive, Suite 103
Fairfax,Virginia 22030-6812
703-934-6969 - Phone
703-352-7530 - Fax
www. atlasUSA.org
atlas@atlasUSA.org
Westholm Joins Fisher Award Panel of Judges
Dr. Carl-Johan Westholm has agreed to join the panel of judges for Atlas’s Sir Antony Fisher
International MemorialAwards for Public Policy Institutes.Westholm, who serves on the board of
Timbro(theSwedishFreeMarketFoundation),isthelong-timesecretaryoftheMontPèlerinSociety.
TheFisherAwards,namedforAtlas’sfounder,honorinstitutesthatproduceoutstandingpublications
overtheprevioustwoyearsandisawardedintwocategories:NewInstitutes,forthosefiveorlessyears
old,andEstablishedInstitutes,forthoseoverfiveyearsold.
Atlasiscurrentlyacceptingnominationsforthe13th
annualFisherAwards,whichwillbepresentedat
our2nd
AnnualLibertyForuminPhiladelphia,April10,2002.Formoreinformationontheprogram,
visittheAtlasWebsite,orcontactouroffice.
Staff News
ChrisMartinjoinedAtlasthisfallasAcademicProgramsAssociate.AgraduateofYaleandof
CambridgeUniversity,Chrisholdsamaster’sdegreeinEuropeanhistory.Heworkedpreviouslyin
businessandpublishing,andwasaKochFoundationsummerfellowin1997.
AninterviewwithLeonard Liggio,Atlas’sExecutiveVicePresident,appearedintheSeptember3
issue of the nationally-published Serbian magazine economist (www.ekonomist.org.yu). In the
interview,LeonardtalksaboutSerbia’sroadtorecoveryandofferssomethoughtsabouttheprospectsfor
liberalisminthecountry.HealsodiscussestheInternationalFreedomProjectgrant-winningcourse,
FreedomandDevelopment,whichisbeingofferedthroughBelgradeUniversitywiththesupportofthe
CenterforLiberal-DemocraticStudies(Yugoslavia).
Upcoming Atlas Events
April 10-11, 2002 – 2nd
AnnualAtlas Liberty Forum, Philadelphia
October 11-13, 2002 –Atlas InternationalWorkshop, Spain
Intellectual Property Rights Seminar: Atlas President and CEO Alex Chafuen, left, traveled to Brazil in August to
participate in Instituto Liberal do Rio de Janeiro’s international seminar on intellectual property rights, co-sponsored by Atlas.
Also pictured (from left): Luiz Felipe Lampreia, former Secretary of Foreign Affairs, Brazil; Carlos Fernando Gross, a Brazilian
entrepreneur; José Graça Aranha, president of the National Industrial Property Institute (Brazil); and Paulo de Barros Stewart,
president of the Instituto Liberal do Rio de Janeiro.
To keep up with the latest Atlas news, visit the Atlas Web site at www.atlasUSA.org
2 | Atlas Investor Report
Of Note
I At the Acton Institute for the
Study of Religion and Liberty
(Michigan) anniversary dinner in
October, Rev. Robert Sirico offered
reflections on the interaction of faith
and freedom as the source of the
United States’s strength, and keynote
speaker Tony Snow discussed the moral
foundation of the country. To order an
audio copy of the dinner program, visit
the Acton Web site at
www.acton.org
I The Center for Restructuring Gov-
ernment at Pioneer Institute (Mas-
sachusetts) has been renamed in
honor of the late Ray Shamie. In his
work as a humanitarian, philanthro-
pist, entrepreneur, and political activ-
ist, Shamie personified the values of
freedom, personal responsibility, and
competition that are the foundation of
the center’s work.
I Galen Institute (Virginia)
trustee, John Hogg, has been named
U.S. Deputy Assistant Secretary for
Planning and Evaluation at the Depart-
ment of Health and Human Services,
in charge of the Office of Disability,
Aging, and Long-Term Care Policy.
I M e d i c a r e ’ s
Midlife Crisis, by In-
stitute for Health
Freedom president
Sue Blevins, has
been published by the
Cato Institute
(Washington, D.C.).
In it, Blevins looks at
the history of Medicare, from the po-
litical maneuvering and misleading as-
sertions that got the original program
enacted, and then examines the fund-
ing crisis, coverage gaps, and bureau-
cratic problems Medicare faces today.
I The Heritage Foundation
(Washington, D.C.) has released its
2002 edition of The Index of
Economic Freedom. Published jointly
with the Wall Street Journal, it is a
practical reference guide to the
economies of 161 countries. For more
information on the Index, visit
www.heritage.org
In Pursuit of Liberty:
Think Tanks Around the World
Jo Kwong
Though there have been many changes since the
terrorist attacks on the U.S. in September, the
essentialactivitiesofAtlashavenotwavered. Infact,it
seems that there’s a newfound interest at all levels of
societyinwhathasseemedofcrystal-clearimportance
toAtlas and its supporters for a long time:advancing
andprotectingthebasicprinciplesofafreesociety.
Theruleoflawunderlimitedgovernment,freeand
openmarkets,individualresponsibilityandcivilsociety
– these are the tenets that allow the human condition
to flourish to its greatest capacity,by enabling people
ofdifferingbeliefstolivetogether,worktogether,and
co-existpeacefully.Truemarketsdonotdiscriminate,
butinstead,enableexchangetooccurevenamongthe
mostdiverseactors.Theruleoflawdoesnotholdsome
people to be more important than others, based on
skin color, gender, societal-position or otherwise.
Limitedgovernmentenablesgovernmenttofocuson
whatitdoesbest–protectthelivesandpropertyofits
citizens. Other activities, which are best handled by
freeandresponsibleindividuals,detractfromthisvital
task.
Atlas promotes these ideas through each of its
programsbydiscovering,developingandmobilizinga
disparatenetworkofindividualsandorganizationsthat
shareourbeliefsandcommitment.Whentheterrorist
attacksstruck,IwasinBratislava,Slovakia,foranAtlas
policy forum which proved to be a wonderful
opportunitytodiscovernewallies.
TheBrastislavameeting,Corruption:StrategicResponses
for Public PolicyThinkTanks, was held just prior to the
MontPèlerinSociety’sregionalmeetinginthatsamecity.
Inplanningthatprogram,wewereremindedthatthere
aremanypotentialpartnersanduntappedresourcesthat
can work alongside Atlas in its worldwide efforts to
promotefreedom’smessage.
Over and over at the event, we heard people
expressingsurpriseathowmanyotherindividualsand
institutes in Central and Eastern Europe share their
goals and ideals. Too often, these freedom advocates
have been working in isolation from one another. It
was exciting to see the connections being made and
the synergies already developing during the event.
Thereissomuchtheycanlearnfromoneanotherand
greatpotentialforcollaboration–theyjustneededan
opportunity like this to bring them together.
Throughout the program,we heard the comment,
“Someoneneedstosharethisgoodinformation!”And
so,Atlas rose to the initial challenge. We asked the
programparticipantstosendusinformationabouttheir
activities and agreed that Atlas would compile the
informationintheformofanelectronicnewsletter.To
date, we have sent out two editions of the electronic
Central and Eastern Europe Newsletter. The October
2001 edition featured news from two independent
institutesinRomaniathatworktopromotefreedomideals:
LudwigvonMisesInstituteandtheRomanian
AcademicSociety,bothinBucharest.Thesearejust
twoofthehandfulofbuddinginstitutesthatareworking
inRomania.Long-timeAtlascolleague,PaulFudulu,for
example,recentlyrelocatedhisRomanianInstitute
forStudyofPublicChoicetoBucharest,aswell.
TheNovembereditiondescribednewactivitiesfrom
the Institute of Municipal Democracy and
HumanRights(Ukraine);IndependentInstitute
of Socio-Economic and Political Studies
(Belarus), and Centre for the New Europe
(Belgium). As long as our European partners send us
theirinformation,wewillcontinuetosharethenews.Of
course, our hope is that someone in the region will
eventuallytakeupthejobanddoitinamuchmoredetailed
andleveragedway. Butuntilthattime,Atlasishappyto
stepuptotheplate. Ifyouwouldliketobeaddedtothis
mailinglist,pleaseletmeknow. Iwouldbedelightedto
seeourEuropeancontactlistgrowtenfold…ormore!
Atlas Network Expanding
in Eastern and Central Europe
Christian Comanescu, president of the Ludwig von Mises
Institute, left, and Sorin Ionita from the Romanian Academic
Society mingle in Bratislava.
Atlas Investor Report | 7

8. A Quarterly Insider Update WINTER 2001
Atlas Economic
Research Foundation
Inside
Atlas Anniversary
Celebration.......4-5
Promoting Liberty
in Turkey .............6
New Contacts in
Eastern and
Central Europe...7
Building Bridges: In 1996, the Association for Liberal Thinking (Turkey) was the host for Atlas’s 28th
International Workshop in Istanbul. The program included a panel on “Islam and a Free Society” featuring,
from left: Antony Sullivan (Earhart Foundation), Mehmet Aydm (Ege University, Turkey), and Imad
Ahmad (Minaret of Freedom). For more on the Association for Liberal Thinking, see p. 6.
Intotaldarknessacandlecreates
a lot of light.
S
ince September 11, I have thought
oftenoftheadageabove,whichmany
ofuslearnedfromLeonardRead,the
founder of the Foundation for Economic
Education.Insteadoffearingthedarkness,
we must conquer it and be on the look
out for the many new lights that will
inevitably arise from the rubble.There is
something in tragedy that obliges us to
focusonthemysteryoflifeandthepower
of freedom, and the result can be truly
inspiring.
As a forthcoming biography onAntony
Fisher recounts, it was tragedy that
motivatedhisdedicationtothefreesociety
andultimatelyledtothefoundingofAtlas.
When Antony was only two, his father
was killed while patrolling in Gaza.Then,
during World War II, he witnessed the
deathofhisonlybrother incombat.These
losses permanently alteredAntony’s view
of the world.
I was never touched by violent death so
directly, but I was inspired to devote my
life to the free society after witnessing
first-hand the terrorist campaign to take
over Argentina in the seventies. Before
that,my dream was to join a corporation
andlivea“normal”life,butterrorchanged
myperspective.Irealizedthatnormallives
require institutions of freedom to create
stabilityandopportunity. Forthisreason,
combating terrorism was the topic of the
very first article I ever published in the
United States, with the encouragement
andhelpofmymentorDr.HansSennholz
of Grove City College (“War Without
End,”TheFreeman,January1979).
I narrate the above because I have faith
the events of September 11 will
encourage new “Antony Fishers” to
commit their life and resources to
promoting the values of the free society.
Manyofourfriends,atinstitutesallover
the world, are already playing positive
roles in promoting policies against terror
and in the long term, the work of all the
institutes and scholars we support will be
essential. Some of the most potent
weapons against terrorism,such as a rule
of law respectful of property and liberty,
takedecadestodevelop. Afteraperiodof
abuses of power and politicization of the
instruments of justice in the U.S.,efforts
to restore the rule of law must begin at
home,butglobaleffortsalsoarebecoming
more urgent. In Atlas’s international
operations, we support independent
groups that have earned their credibility
on their own turf; it is they who are best
able to positively influence the climate of
ideas in their home countries.
• • • •
We are very sympathetic to the view of
Adam Meyerson, President of
Philanthropy Roundtable, that more
resources must be devoted to nurturing
pro-freedomgroupsintheIslamicworld.
Over the last decade, Atlas has been
conducting programs that build common
ground with Islam around shared values
on market economics (see p. 8). In the
wake of September 11, we have been
actively canvassing our databases and
contacting friends to gain new leads on
people and organizations that can help us
enhance these efforts.
Our past work provides us with a good
guide for investing resources in Muslim
outreach, including: providing grants to
institutes both here and abroad;
supporting policy fellowships and
scholarships; funding university courses
that bring a free society perspective to
Islamic teachings; and developing and
promoting Muslim publications and web
pages that highlight groups and ideas that
seekcollaborationandtolerationwiththe
West.
Atlas is about bringing freedom to the
world. Times have changed, our
commitmenthasnot.
From the
President’s Desk
H
avingtraveledtheglobeandmetpeoplefromwonderfullydiverse
backgrounds,Ihavelongbelievedthereisnopartoftheworldwecan
affordtoignore,orwhichissodifferentfromourownthatwecannot
findcommongrounduponwhichtobuildabetterunderstandingoffreedom.
ThisiscertainlytrueoftheIslamicworld.Aftertheeventsofthepastfew
months,thedifferencesbetweenMoslemsocietiesandtheWestmayseemto
someanunbridgeablegulf,butthehistoryofIslamteachesusthereismuch
withinthephilosophicalandintellectualunderpinningsofthatfaithwhich
makesitverycompatibletothevaluesandideasAtlas,andtheAtlasnetwork
ofinstitutes,seektopromote.
Theruleoflaw,dueprocessandprotectionofprivatepropertyrightshave
animportantplaceinIslamicthought.ThefounderofIslam,Mohammed,
wasamerchantandcaravanowner,andtheprinciplesofcommercewere
centraltohisviewoftheworld.LiketheWest,theIslamicworldsharedinthe
harvestofHellenisminphilosophyandscience,andwasfurtherenrichedby
the Persian literary culture.During the MiddleAges,Islamic cities of the
MiddleEastandCentralAsiawerethemostadvancedinmedicine,production
andexchange,anditisfromIslamicsocietythatEuropeeventuallyadopted
manyinnovationsinmedicine,philosophy,andscience,aswellasmanufacturing
methodsandbusinesspractices.
Sadly,theIslamicworldultimatelysufferedacalamityfromwhichEuropeans
werespared–inclusioninalargepoliticalempire,theOttoman.Inadditionto
repressingmuchoftheeconomicdynamismthathadmarkedtheIslamic
world,theOttomanSultansdecreedtheendofinterpretationofIslamiclaw.
FromthetimeofMohammed’sdeath,therehadbeenmultipleschoolsof
Islamiclawthatcompetedininterpretationtocontinuetoimprovethelawto
answernewquestions.TheevolutionandprogressofIslamiclawhadbeenthe
basis forArab Islam’s GoldenAge,but by closing interpretation,freezing
Islamiclawinthe16th
century,theOttomansbroughtthatenlightenederato
anend.
ThereverberationsofOttomanimperialdominationcontinuetobefelt
throughout the Islamic Middle East today,compounded by the effects of
European colonialism, which left a legacy of bureaucracy, controls and
regulation,andMarxistideologyinitswake.Suchsetbacks,however,havenot
extinguishedtherichpotentialofIslamicsociety.
Middle East Outreach
Overthelastdecade,Atlashasbeenworkingquietly,butconsistently,to
increaseourcontactsintheMiddleEastandtodevelopandnurtureprograms
withIslamicrelevance.Theseeffortshaveincluded:
•Atlas’sfirstprojectintheMiddleEast,thedonationofclassicalliberalbooks
totheSt.George’sLibraryinJerusalemin1992.
• Hostingour28th
InternationalWorkshopinIstanbul,Turkey,inSeptember
of1996,followingthegeneralmeetingoftheMontPèlerinSocietyinVienna,
Austria, with workshops that included: “Islam and the
FreeSociety”and“ReligionandtheMarketEconomy”.
• SponsoringtheShalemCenter(Israel)translationofHayek’s
The Road to Serfdom into Hebrew in 1996.
•WorkingwithTheFundforAmericanStudies(Washington,
D.C.),whichoverthepastfewyearshasexpandeditssummer
seminarsintotheEasternMediterranean.Theseminars,which
havebeenheldinGreece,recruitstudentsfromthroughout
theMiddleEast,aswellasfromTurkeyandtheBalkans.Ihave
hadthepleasureoflecturingattheprogramoneyearandhavebeenvery
impressedbythequalityofboththeprogramanditsparticipants.
• Supporting,through the Freedom Project,two courses which explore
issuesrelatedtoIslamandfreedom.
In addition to these and other formal efforts,we have always sought to
expandourownknowledgeoftheIslamicworld,andtoincreaseourcontacts
intheregion,wheneverpossible:
•InFebruary,1997,IparticipatedintheNationalEndowmentforDemocracy
conference,“Islam,DemocracyandtheChallengeofGlobalization,”atthe
Foundation du RoiAbdulzziz al-Saoud Pour Les Etudes Islamiques et Les
SciencesHumaines,Casablanca,Morocco.Freemarketideasandeconomic
growthwerecentraltothediscussion,whichincludedacademicsandthink
tankleadersfromthroughouttheIslamicworld.
• InNovemberof1997,Atlas’sAlexChafuentraveledtoCairofor“Howto
MarketIdeas:AMiddleEastThinkTankConference.”Theconferencewas
sponsoredbytheCenterforInternationalPrivateEnterprise(CIPE)ofthe
U.S.ChamberofCommerce,incooperationwiththeEconomicDevelopment
InstituteoftheWorldBankandtheEgyptianCenterforEconomicStudiesand
included participants from economic think tanks throughout the Middle
East,alongwiththinktankandbusinessleadersfromEuropeandtheU.S.
• InDecember1997,theBecketFundforReligiousLiberty(Washington,
D.C.)organizedamajorconferenceintheMiddleEastwiththesupportofthe
BradleyFoundation.Participantsincludedreligiousleadersofvariousfaiths,as
wellasmanyAmericanscholars,includingmyself.
ThefirsthalfoftheconferencetookplaceinJerusalemandwasdirectedby
Becket Fund president, Kevin Hasson, Esq.The second half was held in
Amman,Jordan,underthechairmanshipofCrownPrinceHassan.Afollow-
upconferenceisscheduledforWashington,D.C.in2002.
InthewakeofSeptember11,Atlasisworkingtobuildupontheseeffortsto
supporttheworkofourfriendsandalliesintheIslamicworld.Togetherwe
willcontinuetomoveforward,promotingthevaluesandinstitutionsofthe
freesocietythatarethebestdefenseagainstterrorandviolence.
Professor Leonard P. Liggio is ExecutiveVice President of Atlas. For a list of
books and articles relating to the history of Islam and theWest, and the
relationship between Islam and free markets, visit the AtlasWeb site.
Reaching Out to the Islamic World
A World of Ideas
Leonard P. Liggio
Atlas’s Leonard Liggio, second from left, participating in the National Endowment for
Democracy’s conference, “Islam, Democracy and the Challenge of Globalization,” in
Casablanca, Morocco. Also pictured, Mohamed Charfi (Morocco), Fouad Benseddik
(Tunis) and Thomas Friedman (The NewYork Times).
8 | Atlas Investor Report