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Customer Review

3 of 24 people found the following review helpful
1.0 out of 5 stars My review is a protest against the "book description"., 6 Aug. 2013
This review is from: Great Persuasion: Reinventing Free Markets since the Depression (Hardcover)
In the "book description" the writer (who is, most likely, not the author of the book) claims that modern writers "struggle" to defend the free market in the face of the current economic crises - as the present economic system is NOT a free market (it is government dominated mess) this claim is absurd.

Also the writer of the "book description" claims that the leading free market writers of the 1930s (Ludwig Von Mises, Hayek and so on) were alert to the "problems of capitalism" (implying that "capitalism" was responsible for the Great Depression - whereas it was actually the case of these writers that government interventionism, specifically the expansion of the money supply in the late 192s and the radically statist response to the bust of 1929, was responsible for the Great Depression).

Then the writer of the "book description" claims that Milton Friedman and others developed a "more strident" defence of the free market than had the Austrian School. This is the exact opposite of the truth - as Milton Friedman actually accepted the state interventions (specifically the Irving Fisher backed government increase of the money supply to keep the "price level" stable).

In short - the "book description" is nonsense from start-to-finish. If the book is anything like the "book description" it is worthless.
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Showing 1-3 of 3 posts in this discussion
Initial post: 7 Aug 2013 09:19:46 BDT
Are you serious?

In reply to an earlier post on 7 Aug 2013 11:47:52 BDT
Paul Marks says:
Mr Fitzgerald there ate two things that need to be kept separate here. You can disagree with Mises Hayek and the rest as much as you like (that is fine), but is wrong to fundamentally misrepresent their opinions (as the "book description" does. It (the "book description") implies that they held that "problems with capitalism" caused the Great Depression, whereas (in fact) they held that it was GOVERNMENT INTERVENTION that caused it. The "book description" then goes on to say that Milton Friedman pushed a "more strident" defence of the free market - which is the EXACT OPPOSITE of what he (and the rest of the new Chicago School) did - unlike the Austrian School, Milton Friedman and co pushed the idea that government intervention (to keep up the "price level" by increasing the money supply) was a good thing - this was exactly what the Austrian School opposed (and still does oppose).

In reply to an earlier post on 3 Jan 2014 19:40:07 GMT
Anthony says:
Too right. I can't see why your review got so few "Helpful" markers, as these are good points, which only act to sow confusion in straightening out the role of the government in causing crises.
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