First Principles: Five Keys to Restoring America's Prosperity

First Principles: Five Keys to Restoring America's Prosperity

by John B. Taylor


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Leading economist John B. Taylor’s straightforward plan to rebuild America’s economic future by returning to its founding principles.

Mired in a crippling economic slump and hamstrung by partisan political debates, America faces substantial economic challenges, from widespread unemployment to the government’s ballooning debt. These assaults on our prosperity reflect the unintended consequences of more than a decade of government intervention in virtually all areas of the economy. Stanford University economist John B. Taylor proposes a natural and reasonable solution to our economic challenges: return to the country’s founding principles—limited government, rule of law, strong incentives, reliance on markets, a predictable policy framework—and rekindle its economic dynamism.

Product Details

ISBN-13: 9780393345452
Publisher: Norton, W. W. & Company, Inc.
Publication date: 05/28/2013
Edition description: Reprint
Pages: 240
Product dimensions: 5.40(w) x 8.10(h) x 0.70(d)

About the Author

John B. Taylor is the Raymond Professor of Economics at Stanford University and the George Shultz Senior Fellow at Stanford’s Hoover Institution. He was Treasury Under Secretary for International Affairs from 2001 to 2005.

Table of Contents

Preface 9

1 First Principles Work 15

2 Who Gets Us In and Out of These Messes? 50

3 Defusing the Debt Explosion 101

4 Monetary Rules Work and Discretion Doesn't 121

5 Ending Crony Capitalism as We Know It 144

6 Improving Lives While Spiking the Entitlement Explosion 166

7 Rebuilding American Economic Leadership 186

Notes 207

Index 221

What People are Saying About This

Paul Ryan

Taylor’s latest contribution could not come at a more important moment.

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