If you are fed up with Washington boondoggles, and you like the small-government, politically-incorrect thinking of Ron Paul, then you'll love Tom Woods's Meltdown. In clear, no-nonsense terms, Woods explains what led up to this economic crisis, who's really to blame, and why government bailouts won't work. Woods will reveal: Which brave few economists predicted the economic fallout and why nobody listened What really caused the collapse Why the Fed--not taxpayers--should have to answer for the current economic crisis Why bailouts are band aids that will only provide temporary relief and ultimately make things worse What we should do instead, to put our economy on a healthy path to recoveryWith a foreword from Ron Paul, Meltdown is the free-market answer to the Fed-created economic crisis. As the new Obama administration inevitably calls for more regulations, Woods argues that the only way to rebuild our economy is by returning to the fundamentals of capitalism and letting the free market work.
Meltdown
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About the Author
Thomas E. Woods, Jr., Ph.D., is the New York Times bestselling author of The Politically Incorrect Guide to American History and How the Catholic Church Built Western Civilization. A senior fellow at the Ludwig von Mises Institute and a contributing editor of The American Conservative magazine, he and his family live in Alabama.Thomas E. Woods Jr. is a senior fellow at the Ludwig von Mises Institute in Auburn, Alabama. He is the author of nine books, including Who Killed the Constitution?: The Fate of American Liberty from World War I to George W. Bush (with Kevin R. C. Gutzman) and the New York Time bestseller The Politically Incorrect Guide to American History. Woods won the $50,000 first prize in the 2006 Templeton Enterprise Awards for The Church and the Market: A Catholic Defense of the Free Economy. Woods edited and wrote the introduction to four additional books, including Murray N. Rothbard's The Betrayal of the American Right and We Who Dared to Say No to War: American Antiwar Writing from 1812 to Now (with Murray Polner). He is also the author of Beyond Distributism, part of the Acton Institute's Christian Social Thought Series. Woods lives in Auburn, Alabama, with his wife and three daughters, and maintains a website at ThomasEWoods.com.
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24 of 24 people found the following review helpful
5.0 out of 5 stars
A Brief Look at What Austrian Economics Predicts for the U.S. Economy
10 May 2009
Format:Hardcover
If you are an American, send a copy of this book to your congressman, senator, and the president along with a large campaign contribution. It's your only chance for economic revival!
Meltdown is the most useful book I've read about the great economic crisis of 2007-?. Unlike the politicians, the media, and the people who comment on markets, Meltdown points out that the current Obama program of massive bailouts and public spending will make the economic situation worse rather than better. In fact, President Obama runs the risk of becoming a new Herbert Hoover as he energetically follows the failed policies of that unpopular president.
What's the point that Austrian economics makes about our situation? When the economy tanks, the free market will quickly direct scarce resources into productive areas where there is plenty of demand for more. If the Federal Reserve and the Federal Government intervene, lots of money will go to those who make the biggest campaign contributions . . . permitting those who made a lot of bad decisions to make even more. Areas that could become more productive will be starved for capital while areas that are already unproductive will get more . . . wasting the resources.
What's the choice? Let the politicians and the Federal Reserve mess around and prolong the agony for years . . . or let the shoes drop where they may and enjoy a quick rebound (albeit following a more rapid drop in prices in the intermediate term).
Most of the book outlines the foolish mistakes that Democrats, Republicans, and the Federal Reserve made that got us into this mess. Most of that probably won't surprise you.
Meltdown is the most useful book I've read about the great economic crisis of 2007-?. Unlike the politicians, the media, and the people who comment on markets, Meltdown points out that the current Obama program of massive bailouts and public spending will make the economic situation worse rather than better. In fact, President Obama runs the risk of becoming a new Herbert Hoover as he energetically follows the failed policies of that unpopular president.
What's the point that Austrian economics makes about our situation? When the economy tanks, the free market will quickly direct scarce resources into productive areas where there is plenty of demand for more. If the Federal Reserve and the Federal Government intervene, lots of money will go to those who make the biggest campaign contributions . . . permitting those who made a lot of bad decisions to make even more. Areas that could become more productive will be starved for capital while areas that are already unproductive will get more . . . wasting the resources.
What's the choice? Let the politicians and the Federal Reserve mess around and prolong the agony for years . . . or let the shoes drop where they may and enjoy a quick rebound (albeit following a more rapid drop in prices in the intermediate term).
Most of the book outlines the foolish mistakes that Democrats, Republicans, and the Federal Reserve made that got us into this mess. Most of that probably won't surprise you.
7 of 7 people found the following review helpful
Format:Hardcover
Tom Woods' book Meltdown is a must for anyone wanting to understand the current economic recession as well as economics in general. Woods deals with some very serious topics in a manner that anyone can understand, but he does not omit vital information to do so. As Ron Paul points out in the foreword, a precious few people critically inspect the current economic system; they assume that the system is solid and only in need of a little tweaking. And, unfortunately, they are dead wrong. What they claim will set the economy on the right course will only increase the mess we see today.
This book begins with a chapter entitled "The Elephant in the Living Room." It explains that people foolishly blame the free market for our problems while never even looking at the real culprit - government intervention. The following chapters deal with such topics as these: money and its purpose, the government-created "boom-bust" cycle, myths that have clouded over the real facts of the Great Depression, and what must be done to set things straight. Possibly the greatest truth revealed in this book is that increase in the supply of money does not increase wealth. Wealth is created only with the production of real products; no value can be created without labor. Money was created to simplify the barter process and as a representation of real products. Creating money out of thin air does not create anything of value. All of these principles are clearly stated and elaborated in this book.
Buy this book. It will help you understand how we got into the mess we are in and how we can get out. Highly, highly recommended.
This book begins with a chapter entitled "The Elephant in the Living Room." It explains that people foolishly blame the free market for our problems while never even looking at the real culprit - government intervention. The following chapters deal with such topics as these: money and its purpose, the government-created "boom-bust" cycle, myths that have clouded over the real facts of the Great Depression, and what must be done to set things straight. Possibly the greatest truth revealed in this book is that increase in the supply of money does not increase wealth. Wealth is created only with the production of real products; no value can be created without labor. Money was created to simplify the barter process and as a representation of real products. Creating money out of thin air does not create anything of value. All of these principles are clearly stated and elaborated in this book.
Buy this book. It will help you understand how we got into the mess we are in and how we can get out. Highly, highly recommended.
6 of 6 people found the following review helpful
Format:Hardcover|Amazon Verified Purchase
Tom Woods describes how the federal government not only created the very conditions for a collapse, but is now following the same policies of fiat money creation that will delay any recovery. He does this in a clear, simple and rather amusing way. Fundamentally, this is an indictment of non-commodity based money. He argues that we don't let the government set the price of bread, so why do we let them set the price of money as well as being the biggest counterfeiter in history? It is a compelling book.
For a fictional account of this theory of economics and politics, you may want to try this one Single Acts of Tyranny
For a fictional account of this theory of economics and politics, you may want to try this one Single Acts of Tyranny
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2.0 out of 5 stars
An Answer in Search of a Question
Cards on the table - I'm a bit of an old lefty, looking for something that gives a sober and honest account from the other side to what I usually read. Read more
Published 12 months ago by Trevor
5.0 out of 5 stars
Open your eyes
Contains many points that most people are unlikely to be aware of. Many that appear obvious when you think about it. Read more
Published on 17 Mar 2010 by W. D. Griffiths
5.0 out of 5 stars
A different point of view of why we are in the crisis
I decided to read this book because after reading several other books on this topic, I wanted to hear this author's point of view. Read more
Published on 15 Nov 2009 by Mariusz Skonieczny
2.0 out of 5 stars
Missed Opportunity -- Not Insightfull
I am very disappointed with this book given the hype and reviews. My disappointment stems from two faults with the book -- it is too narrowly fixed on one problem - the housing... Read more
Published on 16 Jun 2009 by Mr. M. Mcnicholas
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