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Return to Prosperity: How America Can Regain Its Economic Superpower Status Paperback – Bargain Price, February 1, 2011

4 out of 5 stars 27 customer reviews

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Product Details

  • Paperback: 336 pages
  • Publisher: Threshold Editions; Reprint edition (February 1, 2011)
  • Language: English
  • ISBN-10: 1439160279
  • ASIN: B005EP2EUK
  • Product Dimensions: 9.3 x 6.2 x 0.8 inches
  • Shipping Weight: 12.8 ounces
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (27 customer reviews)
  • Amazon Best Sellers Rank: #1,338,195 in Books (See Top 100 in Books)

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By Fritz R. Ward VINE VOICE on March 2, 2010
Format: Hardcover Verified Purchase
Arthur Laffer is one of those pragmatic economists who seeks the most efficient way to accomplish a goal. He is the founder of Supply Side theory which is often conflated with Monetarist or Austrian economic thought, but which differs from the others in viewing taxes as central to understanding how an economy does (or does not) function. Writing again with co-author Stephen Moore, this book follows up their immensely popular "End of Prosperity" with a series of suggestions for how the United States can escape what is turning into a long term recession.

Good economics, Laffer argues, is not a "liberal" or "conservative" philosophy; it is simply the application of relatively easy to understand principles to solve problems in political economy. Those who assume that supply side writers have a natural affinity for the political right will be moderately surprised by the praise Laffer gives to the presidency of Bill Clinton and the ideas of Al Gore. But good economics does require a reasoned, thoughtful approach to policy issues. Reactive policies based on panic and fear are generally poor substitutes and Laffer is very critical of both the current administration and the previous one for their responses to the current economic crisis. President Obama, Laffer notes, is a very smart man, but his policies are counter productive to his own stated agenda.

Laffer offers numerous examples of how Obama's policies in fact frustrate economic recovery. His goal of "energy independence" for example ignores the benefits of trade and the comparative advantages that come from it. Generally speaking, if some parts of the world are oil rich but consumer poor, it is in the interest of both the US and these other countries to trade.
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Format: Hardcover
So many views on economics; so many theories.
Supply-siders will like this book, Non Supply-siders will not. Disclaimer: I am a Reagan/Laffer Supply-sider and I like this book. I did not read this book to bolster my own views but rather to see some way out of our current national economic/fiscal mess. As a fiscal conservative I have been appalled at both the Republican and Democrat out-of-control spending, and, Debit and Deficit economic sophistry. Instead of Gordon Gekko's "Greed is Good", the new mantra seems to be "Debt and Deficit Spending are Good ": Maybe they all are one in the same!?
Dr. Art Laffer, Ph.D, and co-author Stephen Moore, of the WSJ, write in a non-convoluted, layman's less dense, engaging and informative style, but it still requires the reader to pay attention to the mind numbing subject matter. The many graphs and charts help but still we're talking economics here not Lego building. The authors try to keep the theories and economic principles at the Econ 101 level, and they do a great job, but still you've got to be engaged to follow the Laffer and Moore logic.
Bottom line is they have a plan to get us out of our current bipartisan economic mess. Will it work? Logically yes, but politics trumps all in our emotionally charged world of political "New Speak." Rather than read, ponder, cogitate, digest, and say, "Mmmmmmm, they have some valid points," most non supply-siders will immediately go into the political attack mode. Changes to our current economic way of thinking and doing things is an absolute must, for we cannot survive going down the current national economic road: For that way lies financial ruin and economic madness. Somehow we much disengage from the current ideologies and reengage with the world of economic reality.
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Format: Kindle Edition Verified Purchase
I heard of Arthur Laffer through Dave Ramsey's radio program. After reading his book, I can see now why Dave is so enthusiastic about him -- his economic policies are filled with common sense. He describes in great detail how the federal government can actually receive more money by reducing taxes, a concept obviously not shared by leaders in power today. Even though Laffer has his political ties, he is non-partisan in his comments and observations. He praises Reagan and Clinton alike for their reduction in taxes and stimulation of the economy. He looks back to JFK, applauding him for departing from the policies of Eisenhower and slashing taxes. If you are open to a different perspective than the current one of wealth distribution through excessive taxation, then you are likely to enjoy reading this book. Laffer is brilliant -- it would be fantastic if our national leaders learned from his wisdom!
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Format: Kindle Edition Verified Purchase
Although the author is an admitted liberal leaning sort, he does a great job of actual on site background work to support this book. Hydraulic Fracturing has been around for decades and although not the environmental bogeyman the Sierras would have you believe via the now disputed Gaslands, et al, there are pauses for concern. There is too much money involved here though, to see the Fracking boom wither. Most of the major energy companies are pouring billions into equipment, processes, chemical reformulations, and partnerships with the state and federal environmental folks to see this fail. Where he diverges from the free marketers is at the export discussion. Let's keep it here, says he, where the companies want this golden find to be open to the voracious world markets. What is not discussed in this arena is that many other international states are looking at their own supplies, and the fracking boom most likely will go world wide, bringing on more supply. If handled correctly, and I agree, this can be the cornerstone of a rebirth of the American economy. Most people today still are not aware of how big this is going to be for tat least the next 20-30 years.
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