BUY THE BOOK
Henry Holt and Co.
ISBN: 9780805087239368 Pages
Barnes & Noble
"Admirably comprehensive . . . The Price of Liberty shows that [Hormats] knows his history."—Niall Ferguson, The Wall Street Journal
America's first secretary of the Treasury, Alexander Hamilton, identified the Revolutionary War debt as a threat to the nation's very existence. Ever since, Hamilton's principles for securing the country through sound finances have guided leaders from Madison and Lincoln to FDR and George H. W. Bush as they have fought to protect the United States—with the invention of the greenback, a progressive income tax, Victory Bond campaigns, and cost-sharing with allies.
In this bracing work of history, Robert D. Hormats, one of America's leading experts on international finance, argues that the United States must realign its policies on taxes, defense spending, Social Security, Medicare, and oil dependency to safeguard the nation in the coming decades.
American history offers many political and economic lessons. But looking back over this nation's more than two hundred years, one central, constant theme emerges: sound national finances have proved to be indispensable to the...