Thomas Sowell
Jewish World Review Dec. 16, 2008 19 Kislev 5769
This holiday season, give the gift of wisdom
By Thomas Sowell
http://www.JewishWorldReview.com | Good books are especially good to give as
gifts to the proverbial "man who has everything" because he (or she) may not
have heard of a new book that fits their interests.
Good new books are one of the few good things about this past year. Here are
some books that could make fine gifts, obtainable painlessly without battling
crowds at the mall— or even in the bookstores, if you order on-line.
The most outstanding political book of 2008 has been by Jonah Goldberg. It
shoots to pieces the prevailing ideas of who is on "the left" and who is on "the
right."
It can become especially relevant in the coming year, if the new administration
goes further with the government interventions in the economy begun by the
outgoing administration— the kind of economic policies that were at the heart of
fascism.
Fans of economist and JWR columnist Walter Williams will welcome a new
collection of his columns in a book titled "Liberty versus the Tyranny of
Socialism." Spiced with imaginative examples of economic principles in everyday
life, it is vintage Williams.
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It's not all economics, either. Professor Williams' columns are also on
education, law, politics and other subjects, all done in his own inimitable
style.
Another economist and columnist, Robert J. Samuelson of Newsweek, also published
a new book this year— one focused on a topic that is likely to be of growing
interest and growing concern in the years ahead. Its title is "The Great
Inflation and Its Aftermath."
It is an account of how the American economy went from price stability in the
1950s to the beginning of inflation in the 1960s, reaching dangerous levels of
inflation in the 1970s, with inflation then being brought under control with a
lot of tough decisions and painful consequences in the 1980s.
This is the kind of book that may be more fully appreciated by an economist but
it is written in plain English, with no graphs or jargon, so it should be
interesting to a lot of people who are not economists.
"The Great Inflation and Its Aftermath" also has that most uncommon
characteristic, common sense.
Not all the books recommended this year were published this year. "Greatness" by
Steven F. Hayward is an unusual book published in 2005. In its 170 pages of
text, it deftly compares Winston Churchill and Ronald Reagan as leaders,
revealing a truly remarkable range of similarities between these two men from
radically different social backgrounds.
Written at a popular level in an engaging style, "Greatness" is also a book from
which scholars can learn— except for those who think they already know it all.
A very different book is a little book of whimsical cartoons titled "Furry
Logic" by Jane Seabrook. It is good for a few moments of real pleasure and cheer
during the holiday season, perhaps especially good for people recovering in
hospitals or at home, but enjoyable by people of all ages and circumstances.
Books about the past can be relevant to the future, especially when the same
kinds of policies reappear under new names. It is good to have an understanding
of why these policies did not work when they were tried before, as a sneak
preview of what to expect from such policies the second time around.
Since so many of the approaches that Barack Obama has advocated under the mantra
of "change" are things already tried out during the 1930s by Franklin D.
Roosevelt, a devastating and very readable book titled "FDR's Folly" by Jim
Powell spells out just exactly what happened in the American economy when such
policies were put into effect.
My own new book this year is "Economic Facts and Fallacies." While I cannot
pretend to give an unbiased evaluation of it, I can point out that it received a
prize at an international gathering in Zurich and has already been translated in
Spain.
Since fallacies flourish during election years, you may already have heard quite
a few of these fallacies this year. "Economic Facts and Fallacies" can help
prepare you for what is likely to happen when those fallacies are turned into
policies in the new administration next year.