The intent of this economic policy book is to promote the formation of great public policy through a Renaissance in modern economic thought. The work supports the historically successful key elements of free trade, stable currency and private property rights. These philosophies have been espoused by philosophers  such as Plato, Aristotle, Adam Smith, David Ricardo, Ludwig von Mises, Fredrich Hayek and Milton Friedman. Unfortunately, this wisdom has been replaced by econometric modeling and ignorance.

New research in this book on free trade illustrates a  direct relationship between the stock market’s performance and America’s trade policies. The under performance of the US equity markets from 2002 to 2004 was actually due to America’s poor trade policies with its neighbors,  not the dot com bust, as most people have been led to believe.

Many of the nation’s problems are self-imposed by the government doing both  too much and too little at the same time.  The government should provide for common defense, keep the currency stable and promote domestic tranquility.   It should not favor one industry over another. Why subsidize farming while manufacturing fails?  Government cannot pick winners and losers in the economy. It is too far removed from critical  information to make an informed decision.