Economics: Why Not Learn About the Business Cycle and Policy Making Manipulation?

The majority of people do not comprehend the economics, business cycles, how the Federal Reserve operates, or how on earth this horrific situation arose, bringing about the current global crisis. But if you are one of them and you are interested in learning, allow me to offer a really nice book to you.

“Meltdown: A Free Market Analysis of Why the Stock Market Crashed, the Economy Tanked, and Government Bailouts Will Make Matters Worse” by Thomas Woods; Regnery Publishing (2009)

Woods is quite critical of politicians who assert that the “Free Market failed,” as he argues; this is simply not true. Consider the Community Reinvestment Act, Freddie Mac, Fannie Mae, and the Federal Reserve System, as well as their market manipulations and interventions to accomplish the intended effects, to determine the government’s role.

This book claims to answer the following very important questions: (1) Which brave few economists predicted the economic fallout—and why nobody listened; (2) What really caused the collapse; (3) Why the Fed—not taxpayers—should be held accountable for the current economic crisis; (3) Why bailouts are band-aids that will only provide temporary relief and ultimately make things worse; and (4) What we should do instead to put our economy on a healthy path to recovery.

And I would argue that he has done an excellent job demonstrating how our management of business cycles is sometimes little more than a hoax. According to the author, those who believe in freedom are the most intelligent individuals in the world. He also authored the best-selling book “The Politically Incorrect Guide to American History.”

He is a free-market advocate, and rightly so; moreover, he writes with conviction in a way that even a beginner can appreciate. I highly recommend you read this book. Consider This.