Ray's Reviews > Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse

Meltdown by Thomas E. Woods Jr.
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Dec 27, 2009

really liked it
Read in December, 2009

"Meltdown" talks about the economic downturn, market collapse, and housing bubble which burst at the end of Bush's last term. However, Woods doesn't believe that Obama will be a better steward of the economy - quite the contrary. He faults both the Republican as well as Democratic party leaders and the mainstream economic thinkers in power during both the Bush and Obama Administrations. He makes the case that bailouts and increased government spending is not the answer to our problems. Woods subscribes to the Austrian School of Economic theory, the one school of thought which claims to NOT have been caught by surprise by the economic problems starting in 2007 and peaking in early 2009. Followers of the Austrian school claim to have predicted the current crisis, and to be able to explain the on-going boom and bust cycles of our economy. Woods discusses in laymans terms the causes of the economic downturn and and what needs to be done about it. The book also points the reader to other sources of further reading to supplement your economic "enlightenment". Since the intro was written by Ron Paul, I will assume that if you liked Paul's "End the Fed", you'll enjoy this book as well.

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