Time and Public Policy
by T. Alexander Smith

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Book Reviews of Time and Public Policy

Book Review: "Time" is key dimension in economics and public policy
Summary: 4 Stars

Page 99 has a statement that captures and summarizes the thesis: "[P]olicies whose benefits can only be imagined creatively, whose expected impacts are indirect, and which occur in the long run will receive far less support than those policies which are experienced in the present, whose expected impacts are direct, and which take place in the present."

(Please don't let this rather long sentence suggest that the whole book is written that way, because it is not. It is a collective summary that even Prof. Smith puts in italics.)

If you are interested in market economics, public policy, the rule of law, dynamics of political parties, or if you are interested in the "culture war" in America, then you will find many ideas and insights in this book that you won't find anywhere else. For those who have read "Human Action" by Ludwig von Mises, or "The Road to Serfdom" by Friedrich Hayek, this is a superb next book.

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