When the economic history of our times is written, one man will emerge as the prophet of both the financial collapse and the disasters associated with government management: Ron Paul. He alone among the political class sounded the warnings and sees the way out.

This economic manifesto (484 pages!), which is a treasure, collects his greatest speeches and debates over the last 30 years, and provides documentary evidence that he is not only a master of the topic; he has provided a coherent explanation of nearly everything the government has done wrong in this area since he first entered public office. He also provides a way out, as implied by the subtitle: free market, honest money, and private property.

Dr. Paul has consistently battled for all three.

Economics is topic about which most politicians are abysmally ignorant. As this books shows, Ron Paul is a master of the topic and the nation's teacher on a vast range of economic issues. He addresses monetary policy during critical times such as the late 1970s inflation mania, and was a lone voice pointing to the real cause of Federal Reserve monetary policy.

Whereas most members of Congress are intimidated by Fed officials, Paul's confrontations with Greenspan are documented here word for word. In addition, he reveals the social and economic effects of loose credit, and shows the ill-effects of bailouts. He addresses high taxes, regulation, trade restrictions, and bravely denounces sanctions against foreign countries for fueling international tensions.

He also explains his view of free trade, for the real thing but against misnamed treaties that embroil international traders in bureaucracy.

He covers welfare, bureaucracy, war, and a a host of other economic topics in what is surely the most comprehensive, intelligent, and revealing book on economics ever written by a U.S. political figure -- all informed by the Austrian tradition of thought that has so influenced his thinking.

CONTENTS

PREFACE BY ROBERT P. MURPHY

FOREWORD BY LLEWELLYN H. ROCKWELL, JR

PART 1—THE ECONOMICS OF A FREE SOCIETY

• Current Political Philosophies’ Errors to Result in Political and Economic Crisis

• Challenge to America: A Current Assessment of Our Republic

• Has Capitalism Failed?

PART 2—MISES AND AUSTRIAN ECONOMICS: A PERSONAL VIEW

PART 3—REFORMING SOCIAL SECURITY

• Senior Citizens’ Freedom to Work Act of 1999

• Social Security Tax Relief Act

• Social Security Preservation Act

• Social Security for American Citizens Only!

PART 4—GIVING MONEY BACK TO THE TAXPAYERS

• The Agriculture Education Freedom Act

• The Family Health Tax Cut Act

• The Public Safety Tax Cut Act

• End the Income Tax—Pass the Liberty Amendment

• Teacher Tax Cut Act

• The Family Education Freedom Act

• The False Tax Cut Debate

• Police Security Protection Act

PART 5—MONEY AND BANKING: GOLD VERSUS FIAT

• To Provide for Amendment of the Bretton Woods Agreement Act, and for Other Purposes

• Inflation—The Overriding Concern of All Americans

• Curtailing the Discretionary Powers of the Federal Reserve

• Print 3 Million and Take 1 Million for Yourself

• Gold Prices Soar; Dollar Declines

• Government Should Stop Destroying Value of the Dollar

• Increased Money Supply Cause of Inflation

• The Recent Strength of the Dollar and Inflation

• Inflation is Caused by Government

• Debasement

• Congressional Inflation

• Gold versus Paper

• Five Myths of the Gold Standard

• Audit of the Federal Reserve

• High Interest Rates

• At the Brink

• The Folly of Current Monetary Policy

• Back Into the Woods

• Conduct of Monetary Policy

• Federal Reserve has Monopoly over Money and Credit in United States

• Conduct of Monetary Policy

• East Asian Economic Conditions

• Conduct of Monetary Policy

• The Bubble

• International Economic Turmoil

• Revamping the Monetary System

• Congress Ignores its Constitutional Responsibility Regarding Monetary Policy

• Warning about Foreign Policy and Monetary Policy

• Economic Update

• The Economy

• The U.S. Dollar and the World Economy

• The Foolishness of Fiat

• Gold and the Dollar

• Hard Questions for Federal Reserve Chairman Greenspan

• Bring Back Honest Money

• Paper Money and Tyranny

• Reject Taxpayer Bank Bailouts

• The End of Dollar Hegemony

• What the Price of Gold is Telling Us

• Monetary Policy and the State of the Economy

• Chinese Currency

• Financial Services Paulson Hearing

PART 6—FREE TRADE: REAL VERSUS PHONY

• Our Soaring Trade Deficit Cannot Be Ignored

• Ron Paul Amendment to Cut Corporate Welfare

• What is Free Trade?

• The Dollar and Our Current Account Deficit

• International Trade

• PNTR

• The Export-Import Reauthorization Act

• Opposing Unconstitutional “Trade Promotion Authority”

• Steel Protectionism

• Export-Import Bank is Corporate Welfare

• Don’t Antagonize Our Trading Partners

• The United States Trade Rights Enforcement Act

PART 7—INTERNATIONAL AFFAIRS

• Dissenting Views on H.R. 7244

• Big Bankers Get Their Bailout

• The Mexican Bailout

• Reaffirming Commitment of United States to Principles of the Marshall Plan

• Calling for the United States to Withdraw from the World Trade Organization

• U.S. Membership in the World Trade Organization

• New China Policy

• Ending U.S. Membership in the IMF

• Wasteful Foreign Aid to Colombia

• Opposing Taxpayer Funding of Multinational Development Banks

• Why Does the IMF Prohibit Gold-Backed Currency for its Member States?

• The Myth of War Prosperity

• Opposing Trade Sanctions against Syria

• Reject the Millennium Challenge Act

• Providing for the Establishment of a Commission in the House of Representatives to Assist Parliaments in Emerging Democracies

• Opposing Statement to Committee on Financial Services World Bank Hearing

• Darfur Accountability and Divestment Act

• Iran Sanctions Enabling Act

PART 8—HOW GOVERNMENT DISTORTS THE HOUSING MARKET

• Debate on the Housing Opportunity and Responsibility Act of 1997

• Fannie Mae and Freddie Mac Subsidies Distort the Housing Market

• The American Dream Downpayment Act

• Reforming the Government Sponsored Enterprises (Fannie Mae and Freddie Mac)

• Mortgage Industry Has Its Roots in the Federal Reserve’s Inflationary Monetary Policy

PART 9—SPENDING, TAXES, AND REGULATIONS

• The Chrysler Bailout

• The Balanced Budget Amendment

• Authorizing President to Award Congressional Gold Medal to Mother Teresa

• The Davis-Bacon Repeal Act

• The National Right to Work Act

• Authorizing President to Award Congressional Gold Medal to Rosa Parks

• OSHA Home Office Regulations

• Minimum Wage Increase Act

• Awarding Gold Medal to Former President and Mrs. Ronald Reagan in Recognition of Service to Nation

• Internet Gambling Prohibition Act of 2000

• The Wage Act

• Truth in Employment Act

• Financial Anti-Terrorism Act of 2001

• Terrorism Reinsurance Legislation

• The Collapse of Enron

• Television Consumer Freedom Act

• The Shrimp Importation Financing Fairness Act

• Oppose the Federal Welfare State

• Oppose the Spendthrift 2005 Federal Budget Resolution

• A Token Attempt to Reduce Government Spending

• Praising Private Space Exploration

• Government Spending—A Tax on the Middle Class

• Raising the Debt Limit: A Disgrace

• Repeal Sarbanes-Oxley!

• The Republication Congress Wastes Billions Overseas

• So-Called “Deficit Reduction Act”

• What Congress Can Do About Soaring Gas Prices

• Executive Compensation

GLOSSARY OF ACRONYMS

INDEX