Steve Parkhurst reviews Who Needs The Fed? by John Tamny at Big Jolly Politics:
Tamny begins his concluding thoughts this way, “The point here is that the federal government is the biggest credit destroyer of all. It’s not just the initial spending on wasteful programs that is so economy crushing; it’s the fact that government programs never die, no matter their worth.” Ever hopeful, Tamny continues later, “There’s so much to be optimistic about precisely because the answers to our prosperity are easy. Reduce the weight on freedom and credit creation that is government, and the quick result of doing so will be immense prosperity.”
Who Needs The Fed? is not a dense economics book like the macro or micro economics of our youth. This book is written much more clearly than those old textbooks, and is actually interesting. The many rather short chapters make their case and then move along to the next. Tamny’s utter disdain for the Fed is both evident, and humorous along the way. But his book is not an angry diatribe, instead it is a fact-filled, example-laden approach to understanding a complex entity.
John Tamny’s credit has skyrocketed upward with this book. Read the book, you will know what that means, and you will learn a lot more along the way.