The Great Money Binge: Spending Our Way To Socialism
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Prestigious newspaper editor George Melloan, who worked for the Wall Street Journal for more than half a century, is no stranger to the wild ups and downs of the American and world economies. Using detailed examples from the Crash of 1929 and from the Carter era, this brilliantly argued book explains how government intervention actually prevents the economy from recovering its natural balance. Unless lawmakers realize the true importance of using supply-side economics in our current crisis, warns Melloan, nothing will save us from a new era of disastrous inflation and widespread global depression. Citing the importance of historical example, Melloan explains how the world of economics was completely changed in the 1930s under the influence of English economist John Maynard Keynes. His theories advocating government interventionist policies were wholeheartedly adopted as a response to the Great Depression and remained unquestioned until the supply-side revolution of 1980, after the stagflation of the 1970s showed the inherent weaknesses of neo-Keynesian economics. By employing what is sometimes called Reaganomics, President Ronald Reagan and his economic advisers sparked a quarter century of unparalleled prosperity. Unfortunately, as Melloan demonstrates, government policy soon began to revert to Read More chevron_right
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