Review by Booklist Review
As a former member of the President's Economic Policy Advisory Board and chairman of the President's Council of Economic Advisors, Weidenbaum offers a great deal of insight into economic policy. Stating his belief that the Reagan era is as historic as the New Deal, the author explores the various factors that affect economic decisions, such as budget, inflation, regulation, and spending, presenting some specific ideas for problem-solving (eliminating nonmilitary treatment in VA hospitals, terminating the space shuttle, placing a cap on Social Security, etc.). Murray also presents an impressive array of statistics that explode the commonly held beliefs that new jobs are developing in high-tech industries, that imports are the main cause of lost jobs, or that industry is ignoring research. The closing chapters provide an intriguing list of what lies ahead and a sample agenda for the next presidential administration. Bibliography; to be indexed. GRH.
From Booklist, Copyright (c) American Library Association. Used with permission.
Review by Publisher's Weekly Review
Weidenbaum, former chairman of President Reagan's Council of Economic Advisors, joins the chorus of economists who urgently warn that the twin deficitsbudget and tradeare leading the U.S. toward economic stagnation, if not disaster. Unlike many of his colleagues, however, he argues forcefully that less government, not more, is needed to solve America's economic problems. Weidenbaum starkly outlines the dangers posed by protectionism, over-regulation and so-called ``industrial policy,'' insisting that Congress must restrain itself from funding every politically expedient government program. Although his calls for more voter concern over the deficit seem a bit naive, he concludes that there is still time, if we take firm action, to repair the damage to our economy and prevent a reduction in our living standards. To that end, he outlines a national agenda on how to reduce the trade and budget deficits and how to implement tax, welfare and regulatory reform. A thor ough analysis of the problems confronting the U.S. economy. (September) (c) Copyright PWxyz, LLC. All rights reserved
(c) Copyright PWxyz, LLC. All rights reserved
Review by Library Journal Review
This is not just another book about Reaganomics. Those years are seen as an interregnum. Economic problems will now begin to reassert themselves, contends Weidenbaum, who covers the standard topics but avoids the stereotypical analysis of many chroniclers of the Reagan legacy. This analysis provides innovative discussion of corporate takeovers and bailouts, poverty, deregulation, and tax reform. The discussion of military spending reform is especially relevant today. Whether or not one agrees with Weidenbaum, one will appreciate his thoughtfulness in addressing the issues with clarity and concern and not cant. Highly recommended. Richard C. Schiming, Mankato State Univ., Minn. (c) Copyright 2010. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
(c) Copyright Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
Review by Kirkus Book Review
Former chairman of President Reagan's Council of Economic Advisors, Weidenbaum warns that the federal budget deficit, the trade deficit, and US borrowing overseas are all combining to force Americans to make hard economic decisions soon or face a reduced standard of living. In this lucidly written volume, Weidenbaum comprehensively deals with the problems that will inevitably confront the American economy after the end of the Reagan Presidency. For nearly two decades, Americans have borrowed to finance an unprecedented spree of public and private consumption--everything from increased welfare benefits and defense spending to a flood of imported products. Now the bills are coming due, and the likely result is a reduced standard of living as we struggle to repay our debts. If we act now, however, we can avoid many of the painful consequences of our past economic indulgences. Weidenbaum strongly warns against the perils of overregulation and protectionism--pointing out the real harm caused by government bailouts of corporations, and ridiculing the notion that government bureaucracies could manage an ""industrial policy."" He also demonstrates the negative effects on job opportunities caused by government-mandated employee benefits and the lowered level of investment that results from our current federal tax policies. Agreeing with Reagan when he said in 1967, ""The truth is there are simple answers. There are just not easy ones,"" Weidenbaum closes his analysis with proposals for the future that embrace nine key areas of national policy: the budget deficit, defense spending, welfare reform, education, taxation, ecology, foreign trade, corporate bailouts, and takeovers. The one major flaw with Weidenbaum's analysis is that he fails to devise a really effective set of incentives that would force Congress to keep costs down and to make the tough choices between competing government programs. His analysis and proposals, however, will undoubtedly inform the public debate on economic policy in the run-up to the presidential election this November. Copyright ©Kirkus Reviews, used with permission.
Copyright (c) Kirkus Reviews, used with permission.
Review by Booklist Review
Review by Publisher's Weekly Review
Review by Library Journal Review
Review by Kirkus Book Review
