Recommended Reading for the New President
My goodness... the Obama victory last night seemed to have turned Times Square into New Year's Eve. Either they were celebrating the end of one of the worst presidencies in the history of the United States (Dubya), or the beginning of some new "era" ... or just the very real symbolism of the election. I have argued that nothing is going to change fundamentally under an Obama administration, but I'm sure many of those Times Square revelers believe, sincerely, that change is a comin'.
In the meanwhile, over at Inside Higher Ed, Scott McLemee conducted "an utterly unscientific survey of academics, editors, and public intellectuals to find out how — if given a chance — they might try to influence the incoming occupant of the White House." He asked, if we could recommend one book to the new President, what would it be?
Given my own views of the corporatist state-generated roots of the financial crisis, I’d probably recommend The Theory of Money and Credit by Ludwig von Mises, so that he could get a quick education on how the credit policies of a central bank set the boom-bust cycle into motion. Perhaps this might shake the new President into a truly new course for US political economy.
Go read the whole article... it's got a lot of fascinating recommended reading!