Gale Group The New Catholic Encyclopedia 2nd Vol 7 Hol Jub

In Down Home Economics, Smith endeavors to solve some of our most challenging economic and social problems. He begins his quest by modeling a tiny economy comprised of a farmer, a hunter and a handyman. In Smith's imaginary village, life is simple until the hunter marries and the villagers discover technology. What happens next illustrates the basis for many of the problems facing our modern economy. More importantly, the inner workings of this miniature economy point to solutions that could transform our world and dramatically improve the quality of our lives. Based upon his economic model, Smith formulates a ten-point program that would transform the American economy into a futuristic society in which there would be no income taxes, no budget deficits and no national debt. His plan includes Banking 2.0, which would cut the cost of finance and end the cycle of recessions caused by periodic liquidity crises. And finally, Smith proposes a fiscally responsible approach to eradicating poverty, while providing free healthcare, free higher education, and a modest national income for all. Smith's book is liberally illustrated, understandable by the layman, and offers a riveting view of just how bright our future could be with a few strokes of the legislative pen.

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