Overview

A powerful and persuasive exploration of economic theory, business cycles, history, and politics in light of the ideas of Mainline economists, such as Adam Smith, Milton Friedman, and F.A. Hayek. This book utilizes economic theory and massive historical data to originate a novel approach to the causes and nature of business cycles. It demonstrates how flawed government policies have perpetuated business cycles in the United States and abroad while also providing a basis for sound monetary and fiscal policy going forward. It rejects broad discretion by government actors in favor of rules and restraint. It argues that politics is innately flawed and tends towards failure while demonstrating how markets are neither orderless nor bound to collapse. This book challenges the self-regimentation of economic schools of thought and instead opts to take what is true and discard what is not. It provides a solid theoretical and empirical challenge to the Keynesian consensus by arguing that government is impotent in ending business cycles and almost always worsens the crisis by attempting to fix the situation. The consequence of all this is a new line of inquiry founded on strong theoretical and empirical pillars.

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