Writes Chris Byrnes:

I am a long-time reader of LRC and a graduate of the 2005 Mises University. I just finished reading my advance copy Prof. Woods' excellent new book on the economic collapse. I am happy with how my (short) Amazon review came out, and wanted share [sic] it:

Common Sense From an Uncommon Economist.

As the mainstream media pundits struggle through their shallow and predictable attempts to blame the free market for the economic collapse, Tom Woods rides in on a metaphorical white horse to put these myths in their final resting place. Their are innumerable reasons why everyone needs to read this book, but I'll mention just a few, in no particular order:

1. It gives a broad and deep overview of America's current economic situation, and who got us here. For example, Chapter 2 is organized as a series of short yet powerful jabs at whom Prof. Woods has identified as the "culprits" who caused the housing bubble, ranging from #1 - Fannie Mae and Freddie Mac, to #2 The Community Reinvestment Act, to #5, The Federal Reserve, and so on.

2. It is one of the most readable books on economics ever written. Cover to cover, this book takes maybe 4 hours to read and digest.3. Prof. Woods fully utilizes his mastery of both economics and history to dispel myths about the Great Depression, the creation of the Federal Reserve, and the causes of economic panics prior to the existence of a central bank in America.

4. It explains what inflation is, and why it is bad.

5. It explains the absolute lunacy behind these massive bailouts being passed out to Fortune 500 companies like candy on Halloween. Throughout the book, Prof. Woods points out the serious flaws in the reasoning of various officials who supported these bailouts. For example, he writes: "According to [Henry] Paulson, "millions of Americans" were facing rising credit card rates or reduced access to credit, thus "making it more expensive for families to finance everyday purchases." That made even less sense than the usual Paulson rationalization. Think about it: is it sustainable in the long run for families to make everyday purchases on Credit? How can that go on?"

6. Perhaps most importantly, anyone who reads this book will have a whole arsenal of ideas to bring to the table when popular politics and current events are being discussed around the water cooler. After all, everyone wants to sound informed, right?
---------------------------

Your site is excellent, and the podcasts are a great new addition. Good luck in the future!