In the Introduction, Larry Kudlow lays out what is at stake in Pat Toomey's economic approach (Page xi): "'The Road to Prosperity' by Pat Toomey is an important salvo in the fight for traditional American free-market economics against the Obama -led, European-style collectivist policies."
Toomey begins the volume by laying out four key principles that are required for healthy economic growth and prosperity: (1) Private ownership of policy; (2) Allowing markets to operate freely; (3) Low taxes; (4) Stable money. Each chapter following uses these principles to explore a variety of issues.
Chapter 2 observes that our understanding of FDR's New Deal is wrong; it actually exacerbated the Great Depression. Chapter 3 considers tax policy and how to improve it, based on his principles. Chapter 4 examines government spending, with special distaste registered for earmarks, pork, and deficits. Chapter 5 considers trade policy, with an argument in favor of free trade. In Chapter 6, he addresses Social Security, arguing for citizens to have more control over their investments. Chapter 7 focuses on school choice, applying market principles to education. Chapters 8 and 9 evaluate why the great economic crash occurred and how President Obama's response was precisely the wrong approach.
This book is an eloquent statement of conservative values applied to prosperity. Much of the content is not particularly new, but the work is a good statement of conservative principles applied to various problems/issues.
Personally, I see contestants in the debate over economics--from people like Toomey on the right to those like Krugman on the left--as overly simplistic. Simply to "let the market" be unfettered is too simplistic. On the other hand, advocating government managing the economy is also simplistic. What is needed is a genuine dialogue to develop approaches taking the valuable elements of various perspectives to use in the future. Too often it appears to me that advocates are not really speaking to one another and that rigid adherence to ideology keeps issues from being profitably joined.