Rollback by Thomas E. Woods, Jr.
There is so much packed into this relatively short work, that summarizing it simply results in a list of bullet points. More importantly, everything discussed in this book is on the money, and eminently practical, although not necessarily in the way that everyone thinks. Rollback is part political theory and part history, which provides a useful backdrop for thinking about the problems currently facing America. The historical background is especially important for it helps to dispel many of the concerns and downright myths surrounding Mr. Woods’ proposals.
The book starts off strongly by addressing the most important question: is it too late to make a difference. The answer is a tentative no; the understanding is that we can’t tell for sure. If there is time life, there isn’t much of it, and so we must buckle down and institute sweeping reforms right away. This sort of rhetoric would make most political cynics gag, save for two things: it’s not spoken by a politician, nor does it seek to enlarge the role of the federal government. Just the opposite, in fact. The main proposal is stated right in the sub-title: “Repealing big government before the coming fiscal collapse.”
After making the case that we have precious little time left, Woods then delineates his plan for rolling back big government. The first order of business is to address the issues facing health care, starting with a repeal of ObamaCare, followed by a deregulation of the health market, including overturning the AMA’s monopoly power, deregulating medicine development, etc.
After addressing health care concerns, Woods goes on to show how governmental interference is responsible for the bulk of financial crises America has faced. In fact, most of the problems facing the nation today are a result of governmental intervention. Understanding this fact is crucial, for if Woods’ plan is to work, citizens will need to understand that government is the problem, not the solution.
From there, Woods succinctly explains the Federal Reserve System in a way that would make Ron Paul and Thomas DiLorenzo proud. Naturally, the Fed is a serious enemy of liberty, and a rather large source of federal power. As a side note, the current federal reserve bank is actually the fifth incarnation of a federal bank, with the prior four failing rather spectacularly during the 19th century.
Rollback then addresses military spending, bluntly criticizing neo-conservative hawkishness in the process. Defense spending is the second largest federal expenditure, and is grossly inefficient in many key areas. Thus, Woods argues for a more rational approach to spending on defense. One of the more interesting facts that he notes is how the navy is currently better suited to deal with an attack from imperial Japan than the splintered and fragmented terrorist organizations that currently threaten us. In fact, this is one area where could become safer by trimming down, which in turn saves money.
Woods next attacks the myth of “good government,” a crucial step in convincing others that others that the government cannot be trusted to solve its own problems. There is so much packed in this chapter that it is simply better to read it for yourself than to try to get a sense of it from a somewhat shallow review.
He then closes with a wide variety of ways to ensure rollback of federal programs, including education, agorism, and debt repudiation. Education is crucial, for many “solutions” offered by politicians and mainstream economists are simply puerile inanities. Being able to think, to see the heart of the problem will enable citizens to cut through all the garbage put forth to them by the elitists.
In sum, this book is concise look at not only the problems facing America today, but also a look at the only solutions that will truly yield long-term success. It is a rich history of the causes of the problems facing us today, and an eminently practical book in its application. I doubt that even Rothbard could write so perfect a book.
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