By Rama Gaind
PS News Books
Bad Economics: Pestilent Economists, Profligate Governments, Debt, Dependency & Despair
By Peter Smith (Connor Court Publishing, $29.95, softcover, 233 pages)
The message here is quite clear: revive the good by exposing the bad.
You don’t need knowledge of money matters to understand Bad Economics, but having common sense and an open mind assists when understanding how good economics is being pushed aside while the bad is ruining western societies.
Bad Economics lets you understand why things have gone wrong and takes on the illusions and delusions which regularly shape economic policy.
Peter Smith makes it all sound legible. One track leads to hope with good economics laying out how individual efforts and talents make societies prosper.
The path of despair needs to change.
Endemic unemployment and suffocating government debt contribute to gloom in western societies. Even “…debilitating dependency on the nanny state is the product of embracing another credo that masquerades as economics. In fact, it is socialism to varying extents and in various guises”.
The time to start undoing the harm is now—before “economic malaise turns into social unrest of convulsive proportions and the potential loss of our freedoms”. Question the mainstream version of events; not be submissive and accept them.
Smith does not prevaricate: “Free market capitalism is not the problem. It is not even a miniscule part of the problem. Bad economics and government is the problem. It is the only problem”.
He shrewdly lays the blame, then paints a clear way out: “the disingenuous is dumped and a clear path is hewn through some big picture economics—without complexity, diagrams or formulas—and through a number of left/progressive myths and pipedreams. It is polemical in style. No economics is required”.
While free market capitalism explains prosperity, economics leaves it unadorned.
Edition 337, 30 October 2012
To find out more about Rama Gaind click here.