- Paperback: 306 pages
- Publisher: Publishing Services LLC (29 August 2014)
- Language: English
- ISBN-10: 0990359530
- ISBN-13: 978-0990359531
- Product Dimensions: 15.2 x 1.8 x 22.9 cm
- Average Customer Review: 1 customer review
- Amazon Bestsellers Rank: #2,56,199 in Books (See Top 100 in Books)
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Hormegeddon: How Too Much of a Good Thing Leads to Disaster Paperback – Import, 29 Aug 2014
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About the Author
Bill Bonner is the co-author of the New York Times Best Selling books Financial Reckoning Day: Surviving the Soft Depression of the 21st Century, Empire of Debt: The Rise of an Epic Financial Crisis, and Mobs, Messiahs, and Markets: Surviving the Public Spectacle in Finance and Politics. He is also the founder and president of Agora Publishing and writes the daily financial newsletter Diary of a Rogue Economist. His daily letter is published in 4 countries and reaches more than 250,000 subscribers.
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Top customer reviews
Most helpful customer reviews on Amazon.com
This book is ultimately a scathing critique of big government, central planning, fiat currency, debt and how the Hayekian "fatal conceit" always ends in tears: "public policy disasters are what you get when you apply rational, small-scale problem-solving logic to an inappropriately broad situation." Government is iatrogenic - from the Greek for "brought forth by the healer" - meaning it suffers from unintended negative consequences. Bonner references one of my favorite economic theorists, Mancur Olson, who wrote "The Rise and Decline of Nations" about how economies grow ever more sclerotic with age. The special interests that Olson describes as "distributional coalitions," Bonner more colloquially refers to as parasitic zombies. One of Olson's major conclusions is vividly reinforced by Bonner: "All mature economies drift towards unproductive activity like old elephants heading for the burial ground."
Hormegeddon is the inescapable end-game, always. Bonner's writing style is very entertaining, yet can veer seemingly far off course into detailed lessons from history - be it the German War machine of WWII or France's 'assignat' fiat currency fiasco from the late 1700's, but all are relevant and illustrative. Bonner's credibility is heightened by quotes or citations from a laundry list of relevant intellectual luminaries: Adam Smith, Taleb, Hayek, Olson, Minsky, Schumpeter, Laffer, Twain, Voltaire, Bastiat, Tainter and Niall Ferguson. If you're reading Hormegeddon, you're almost definitionally predisposed to Bonner's conclusions (behavioralists call it "confirmation bias"). If so, here are some additional recommended readings: "The New Road to Serfdom" by Daniel Hannan, "The Great Degeneration" by Niall Ferguson, "Fiat Money Inflation in France" by Andrew Dickson White, "The New Case for Gold" by James Rickards and "The Scandal of Money" by George Gilder. All will have you buying gold bullion and storing canned goods to prepare for the coming Hormegeddon.