The biggest problem with the economic crisis today isn’t that stocks have lost 50% of their value or that unemployment and foreclosures are skyrocketing, it’s that many people–some supposedly educated people–claim that the unregulated free market is to blame. While, the unregulated free market could possibly do this much damage, that remains to be seen because we don’t have an unregulated free market and no one that’s alive has ever seen one. This is the case because government, with all its good intentions, has consistently intervened in the market and taken the free part out for the most part.
This is what I touch on in my book Surviving the Second Great Depression and it’s what Thomas Woods elaborates on in a thesis designed to wake up the American populace to the dangers of the Federal Reserve. With witty gems and pointed commentary throughout, the Austrian-school economist Woods delves into the structures at the root of the economic collapse: a fiat currency controlled by a government-sponsored (though not approved by Congress) Federal Reserve pushing an unsustainable inflation.
Woods is thorough (though of course his ideas could be expounded on) as he attacks the government’s “war on reality” and points out the ineptness of supporting solutions to problems that are precisely what got us into the mess in the first place!
Along with the books Woods mentions in the appendix, “Meltdown” is a must-read for people who are interested in returning to the original intent of government–that being the preservation of rights to life, liberty, and the pursuit of happiness. I’m so convinced that “Meltdown” will shock you, that after you read the book, if you still think we live in a free market economy, I will buy your book and pay for shipping.