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Rollback: Repealing Big Government Before the Coming Fiscal Collapse Hardcover – February 7, 2011
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From the Back Cover
If Congress and the Administration really wanted to learn how to eliminate the deficit, limit government, and protect liberty they would stop wasting taxpayers’ money on debt commissions’ and instead read Rollback.”
The Honorable Ron Paul, Member of Congress
In Rollback,, Tom Woods provides a provocative assessment of President Obama’s first two years of economic policymaking, challenging virtually every aspect of the administration’s narrative. While some readers may not be persuaded, all will find Woods’ analysis both interesting and worthy of serious debate.”
Dr. Jeffrey Miron, Economist, Harvard University, and Senior Fellow at the Cato Institute
Tom Woods takes an honest (and methodically cited) look at the record of big government: skyrocketing healthcare costs, an out-of-control military, moral hazard in the markets, and a collapsing dollar. Even better, he offers clever, turnkey solutions that could restore the United States to being the breeding ground of wealth and ingenuity that our immigrant ancestors sought and cherished. Rollback debunks the popular rhetoric of politicians, the media, and academia. Without a hint of partisanshiptaking on Republicans and Democrats alikeWoods has shown how misguided policies have set us up to be the first generation in memory to pass along lower standards of health, wealth, and opportunity to our children. If you are confused about how our once-mighty country has fallen so far, so fast, then Rollback is a good place to find your answer.”
Peter Schiff, president of Euro Pacific Capital and host of The Peter Schiff Show
In Rollback, economic historian Tom Woods proves that the true culprit for our financial woes is a government that thinks it can right any wrong, regulate any activity, and tax any event; and a public that continues to accept the assault on its natural liberties in the name of safety. Woods demonstrates with brutal clarity the critical and immediate need to reject the myth that the government can protect us and to repeal the institutions it has created to do so.”
Judge Andrew P. Napolitano, Senior Judicial Analyst, FOX News
About the Author
Top Customer Reviews
In Rollback, Woods takes another clear and concise look at our complex modern times with one simple underlying theme: government is not the answer to our problems. This theme has resonated throughout the American conscience since the country's founding and has only grown more compelling in the late 20th century when the overwhelming cry has been for more government intervention and state regulation. Drawing from years of scholarship in the free-market, Austrian School of economics, Woods lays out the case that the kind of government intervention we have slowly inched toward is based in a "suicidal business model" and will inevitably come crashing down in a calamity far worse than the crisis of 2007-08.
The book is short and to-the-point. It focuses on theory and the "big picture," which is reasonable considering Woods' belief that the first step in solving the problems is simply revealing the flaws of the pro-government mentality and dispelling the myth of "good government."
In short, Woods makes an excellent case for rolling back the size of government. The only concern I would have is whether this book will speak to those who consider themselves liberal or centrist.Read more ›
Some interesting things I learned from this book:
Certainly the most eye-opening thing for me was the analysis of the military-industrial complex and how it diverts American engineers from working on useful projects. Even a "small" military budget of 4% of GDP can have a huge effect on the price of engineers. The "mere" 4% figure actually hides an enormous cost to the economy because of the number of engineers drawn away from useful work. The argument that so much innovation in industry comes ultimately out of the military seems a lot less convincing when you realize that American industry might have twice the number of engineers available if it were not for the military in the first place!
Woods argues persuasively that repealing the Glass-Stegal act was such a minor change that it had nothing to do with the 2008 crash. I had previously accepted the argument that this change worsened the crash because it "deregulated" banks while still guaranteeing them under FDIC. However, the US was the only country ever to separate investment and commercial banking as Glass-Stegal did, so there is no particular reason to think that this change could be the cause of the housing bubble.
Although the book is clearly marketed towards conservatives, you certainly aren't going to become more conservative when you read it. Rather, you will become more radically anti government.Read more ›
Second, Woods does a good job of conveying the idea that many of the costs of government are hidden. This is important to his thesis, as hidden costs are important to understanding why people are fooled into thinking that government is the answer to market failures.
Third, there are many good examples in this book. Personally, I have used the Swedish example for years. Wood's discussion of The Industrial Revolution and Global Poverty are important too. I think the most important examples are the recent one's: Fannie/Freddie, Fiscal stimulus... However, I would have liked to have seen even greater discussion of the Subprime Boom and Bust. There is new mythology emerging that free market Capitalism caused our recent debacle. Conventional thinking on this issue, especially in the media, is simply wrong and needs to be debunked.
Generally speaking, 240 pages is too little room to really flesh out all of these issues. This is a minor criticism, as greater length and sophistication would make Rollback less readable and less timely. You should buy and read Rollback, even if you are predisposed against its thesis.
Most Recent Customer Reviews
It's almost like libertarians are mind readers. This book is no exception to that statement. Dr. Thomas woods brilliantly and eloquently makes the case for liberty, justice, and... Read morePublished 10 months ago by Aaron Arch
Read other detailed 5 star reviews. This is scholarly, interesting and challenging to my world view. Thanks Mr. Woods!Published 14 months ago by JamesD
A must read, especially for anyone who thinks we need more government to solve our problems, and for those who don't realize hat most of our problems were created by government... Read morePublished 15 months ago by Amazon Customer
I got this book some time ago. This is a book that everyone should read. I couldn't have been more pleased with the book, the price and the prompt delivery.Published 22 months ago by Kenneth Schroff
The good doctor, Thomas E. Woods Jr., shows you what's wrong with State privilege granted to corporations. Read morePublished on June 23, 2014 by Enoch Elijah