First Principles: Five Keys to Restoring America’s Prosperity

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By John B. Taylor ’68

Published Jan. 21, 2016

(W.W. Norton & Co.) This book presents a straightforward plan to rebuild America’s economic future by returning to its founding principles of economic and political freedom, as manifest in limited government, rule of law, strong incentives, reliance on markets, and a predictable policy framework. It also zeros in on current policy issues. Taylor is the Raymond Professor of Economics at Stanford University, and was Treasury Under Secretary for International Affairs from 2001 to 2005.

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The October 2025 cover of PAW, featuring an illustration of a woman dressed like Superman, but the S on her chest is a dollar sign.
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Philanthropist MacKenzie Scott ’92; President Eisgruber ’83 defends higher ed; Julia Ioffe ’05 explains Russia.