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Mises Institute
Author : Ron Paul Publisher : Mises Institute Manufacturer : Mises Institute
Description
This economic manifesto by Ron Paul (484 pages!) collects his greatest speeches and debates over the last 30 years, and provides documentary evidence that he is not only a master of the topic; he has provided a coherent explanation of nearly everything the government has done wrong in this area since he first entered public office. He also provides a way out, as implied by the subtitle: free market, honest money, and private property.
Dr. Paul has consistently battled for all three.
Economics is topic about which most politicians are abysmally ignorant. As this books shows, Ron Paul is a master of the topic and the nation's teacher on a vast range of economic issues. He addresses monetary policy during critical times such as the late 1970s inflation mania, and was a lone voice pointing to the real cause of Federal Reserve monetary policy.
Whereas most members of Congress are intimidated by Fed officials, Paul's confrontations with Greenspan are documented here word for word. In addition, he reveals the social and economic effects of loose credit, and shows the ill-effects of bailouts. He addresses high taxes, regulation, trade restrictions, and bravely denounces sanctions against foreign countries for fueling international tensions.
He also explains his view of free trade, for the real thing but against misnamed treaties that embroil international traders in bureaucracy.
He covers welfare, bureaucracy, war, and a a host of other economic topics in what is surely the most comprehensive, intelligent, and revealing book on economics ever written by a U.S. political figure -- all informed by the Austrian tradition of thought that has so influenced his thinking.
Customer reviews for 'Pillars of Prosperity'
«Pillar of Salt? »
I read this book as a participant of [...]
The message that resounds throughout this collection of speeches is that the federal government of the United States ought not to intervene in true free market capitalism. It was a very consistent book. A key theme of this book is how the Federal Reserve supports the federal government's deficit spending by printing more and more money (backed by nothing but the threat of nuclear annihilation [that's what I say, not Ron Paul]), which is, by definition, INFLATION. This has been the way out of many a financial crisis, as is cited in the book. When more and more "dollars" are chasing the same amount of consumer goods (like bread, gasoline, or any number of commodities) PRICE inflation occurs. Inflation is a hidden tax, which hurts mostly the middle class, and decimates those already having trouble making ends meet.
There were a few words that sent me to the dictionary to gain a clearer understanding. Words like fungibilty (p. 425), profligate, and sop (p. 443). So not only did it underscore my understanding of the way a free market (if allowed to) will operate, it illustrated the unintended consequences of government intervention in the marketplace.
In general I found this book easy to understand, except for in Part 7: International Affairs, in a speech entitled "Reaffirming Committment of United States to Principles of the Marshall Plan." That left me scratching my head. But maybe I shouldn't read this stuff so late at night.
In summation: A bit long, excellent content, big words make you smart.
[Wednesday, October 15, 2008]
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«Long, good read»
Ron Paul has some great ideas on economics. It's a long read but worth it.
[Tuesday, July 08, 2008]
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«Ron Paul is a brilliant man. I wish more US citizens "got it" and would vote a brilliant man like him to be president.»
I absolutely love this book. His views of the economy are dead on but unfortunately I don't see a scenario where his policies and views will ever be taken completely seriously. The current economic policy of the US will eventually cause an economic collapse. The people who benefit most from currency debasement know this and are positioning their assets accordingly while still hyping the US dollar which is destined to fail under current policy. I just hope the publisher doesn't print too many copies of the book out of thin air and debase my book!
[Saturday, May 10, 2008]
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