Ep. 1206 The Crisis of '08: Truth vs. Propaganda
The Tom Woods Show
Tom Woods
4.8 • 3.4K Ratings
🗓️ 31 July 2018
⏱️ 32 minutes
🧾️ Download transcript
Summary
Opponents of the free market had a field day in 2007/8: why, this collapse goes to show how unstable capitalism is! That's why I wrote my book Meltdown, which (thankfully) wound up spending 10 weeks on the New York Times bestseller list. We needed an Austrian (and not just generic free-market) response to this conventional wisdom. In this episode, I discuss the book with Lew Rockwell on his podcast.
Transcript
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| 0:00.0 | The Tom Woods Show, episode 12006. |
| 0:03.2 | Prepare to set fire to the index card of allowable opinion. |
| 0:08.0 | Your daily dose of liberty education starts here, the Tom Woods Show. |
| 0:14.2 | Folks, if you agree with me that it is impossible to have a rational discussion about guns on social media these days, |
| 0:20.3 | then you are going to love my |
| 0:21.8 | brand new free ebook. Your Facebook friends are wrong about guns. It's full of all the arguments |
| 0:28.8 | you'll ever need. Check it out at wrongaboutguns.com. Hi everybody, Tom Woods here. It's just about |
| 0:36.4 | 10 years since the financial crisis of 2008, |
| 0:41.4 | and I wrote a book about that at the time. I wrote it in 2008, and it came out in February 2009, |
| 0:49.7 | which is a really, really fast turnaround for a traditional publishing. The book was called Meltdown. |
| 0:55.7 | It wound up spending 10 weeks as a New York Times bestseller. |
| 0:59.2 | I got a lot of terrific feedback about it. |
| 1:01.8 | And I think it's one of the best contributions I've made in the sense that, |
| 1:06.1 | even though the book itself doesn't have a lot of original material in it, |
| 1:09.7 | I'm very much indebted to Mises and |
| 1:12.0 | Rothbard and thinkers who came before me. And I think I've done some things that are more |
| 1:17.4 | original, but this was more a matter of it was the right book at the right time, because I knew |
| 1:23.6 | there was going to be a really, really confused conventional wisdom at that time that was |
| 1:29.3 | going to be telling people that capitalism caused the financial crisis and deregulation |
| 1:34.2 | was the problem and stuff like that. And I wanted to head that off at the past, or at the very |
| 1:39.3 | least, I wanted there to be some kind of a response, an Austrian school response, not just a generic |
| 1:46.1 | free market response either, but a specifically Austrian response that would take aim at central |
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