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Meltdown
by Tom Woods · 2009
★★★★★Editor's Pickbeginner
The New York Times bestseller that explained the 2008 financial crisis through the lens of Austrian economics.
★ Why We Recommend It
This is one of the most important works in the liberty tradition — essential for any serious student of free markets and individual rights.
Best For:New to libertyFirst-time readersGift for a friend
★ Key Takeaways
What You'll Learn from Meltdown
- 1The 2008 crisis was caused by the Federal Reserve's artificially low interest rates.
- 2Austrian business cycle theory predicted the crash long before mainstream economists.
- 3Government housing policies — Fannie Mae, Freddie Mac — distorted the market.
- 4Bailouts reward failure and create moral hazard for the next crisis.
- 5The recession was a necessary correction; stimulus prolonged the pain.
★ About the Author
Tom Woods
Tom Woods is a leading thinker in the tradition of economic and political liberty. This work represents a significant contribution to the literature of freedom and free markets, and has influenced generations of students and scholars.
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