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Book Review: Endless Money: The Moral Hazards of Socialism by William Baker

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William Baker sets out, according to the sub-title of Endless Money, to warn of "the moral hazards of socialism." To this end he does an excellent job of laying out his case that the United States has been heading towards socialism for over 100 years one. He makes a strong case that this movement is speeding up under both Obama and the last few years of Bush.

Be warned this book is very heavy on statistics with a liberal use of economic and finance terms. If you are one who is versed in this world, then this book is quite interesting to read. Baker certainly believes strongly in his hypothesis and is willing to make a stern case for it.

He unfortunately lends the final chapters of the book into a rant against perceived ills in American societies. He makes some ludicrous comparisons. One of the most foolish is comparing the Roman habit of large bloody tournaments to video games. This comparison fails to work in the fact that video games are participatory while watching something in a coliseum is a passive activity. Surely it would be better to compare the Roman games to events such as Ultimate Fighting Championship, professional boxing or even football.

HIis rant about "society" detract from the rest of the book, it strikes me as superfluous to the overall text.

Baker uses the Roman empire as a benchmark to demonstrate his belief that the United States is in decline. This comparison makes for interesting and though-provoking reading.

Criticisms aside, Endless Money is well worth reading for its thoughtful analysis of the current state of governance and the world of finance. While not for the casual reader, it does reward those with even a modicum of knowledge of the subject.

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About Marty Dodge

  • Narukami

    Mr. Baker would do well to read Professor Adrian Goldsworthy’s book How Rome Fell (c2009 ISBN: 978-0-300-13719-4) Rome’s decline and fall was due to more than just economics. Indeed the Roman Empire lasted for over a thousand years — we should be so lucky.

    As for comparing the modern US to ancient Rome Mr. Baker might consult Cullen Murphy’s book Are We Rome? (c2007 ISBN: 978-0-547-05210-6) a most insightful look at the similarities, and dissimilarities of these two superpowers.

  • Ludwik Kowalski


    Please share this link with those who might be interested.

    P.S. The book is waiting for a reviewer

    [personal contact info deleted]