"Advocates of the free market must confront the fact that both the Great Depression and the current financial chaos were preceded by years of laissez-faire economic policies," write Katrina van den Heuvel, editor of The Nation, and author Eric Schlossel.Knowing full well that inanities like this would become the received version of events, I wrote a book for the layman explaining what really happened to the economy, who the true culprits are, and why the free market is the only approach that hasn't been tried. It's called Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse, and it was released yesterday. My publisher has made a free chapter available for download.
I wrote Meltdown in order to give the free-market point of view the advantage of being one of the first, if not the first, of the inevitable avalanche of books on the crisis. (Paul Krugman, as well as the editors of The Nation, have published books of rehashed columns, but those don't count.) I also wanted the free-market point of view to have the advantage of a book-length defense in the first place.
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I've heard Tom Woods interviewed on a number of radio programs. I believe his views are right-on! My question: When 60% to 90% of the public oppose the 'bailout' and 'stimulus' plans, depending on the subject matter, why won't our 'represenatives' listen to us? Surely, there must be some way to get the representation we deserve, short of a revolution.... or perhaps THAT IS the answer!
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