Ep. 2589 Axis of Evil: America's Three Worst Presidents

In this book, Robert Penn Warren explores the Civil War as the central event in American history, examining how it is remembered and felt in the national imagination. Warren discusses the war's impact on the consolidation of the Union, the abolition of slavery, and the lasting psychological and economic effects on both the North and the South. He critiques the 'Great Alibi' of the South and the 'Treasury of Virtue' of the North, highlighting how these narratives have shaped national integrity and personal identity. The book is a nuanced and balanced assessment of the Civil War's legacy, written during the centennial commemoration in the early 1960s.

Ivan Eland's "Recarving Rushmore" offers a unique perspective on presidential rankings, evaluating U.S. presidents based on their commitment to life, liberty, and property. Eland's criteria challenge traditional historical assessments, focusing on individual liberties and limited government. The book provides a fresh analysis of presidential actions and their impact on fundamental rights. Eland's work encourages readers to reconsider conventional wisdom about presidential greatness, prompting a reevaluation of historical figures based on libertarian principles. The book serves as a valuable resource for those interested in a different approach to evaluating presidential legacies.

Published in 1776, 'The Wealth of Nations' is Adam Smith's magnum opus that laid the groundwork for modern economics. The book critiques mercantilist economic theories and introduces the concept of the 'invisible hand,' which describes how individual self-interest leads to societal benefit. It emphasizes the division of labor, the accumulation of capital, and the importance of free markets. Smith argues that a nation's wealth is not measured by its gold and silver reserves but by the stream of goods and services it produces. The book also outlines the core functions of government, such as maintaining defense, enforcing civil law, and promoting education, while advocating for limited government intervention in market activities.

In this book, Thomas E. Woods, Jr. challenges the common narrative that deregulation and free markets led to the 2008 financial crisis. Instead, he argues that government interventions, such as those through Fannie Mae and the Community Redevelopment Act, were the primary causes of the housing bubble and subsequent market collapse. Woods also critiques government bailouts, suggesting they exacerbate the problems rather than solve them. The book provides a detailed explanation of Austrian business cycle theory and its application to the crisis, as well as a historical context comparing the government's response to the Great Depression.