First Principles : Five Keys to Restoring America's Prosperity

Leading economist John B. Taylor’s straightforward plan to rebuild America’s economic future by returning to its founding principles.

America’s economic future is uncertain. Mired in a long crippling economic slump and hamstrung by bitter partisan debate over the growing debt and the role of government, the nation faces substantial challenges, exacerbated by a dearth of vision and common sense among its leaders. Prominent Stanford economist John B. Taylor brings his steady voice of reason to the discussion with a natural solution: start with the country’s founding principles of economic and political freedom―limited government, rule of law, strong incentives, reliance on markets, a predictable policy framework―and reconstruct its economic foundation from these proven principles.

Channeling his high-level experience as both a policymaker and researcher, Taylor then zeroes in on current policy issues―the budget, monetary policy, government regulation, tax reform―and lays out in simple terms bold strategies designed to place the country on sound footing in each of these areas.

John B. Taylor is the Raymond Professor of Economics at Stanford University and the George Shultz Senior Fellow at Stanford’s Hoover Institution. He was Treasury Under Secretary for International Affairs from 2001 to 2005.