Petrou's new book on monetary policy details how the Fed's turn toward QE and ultralow interest rates have done wonders for billionaires while impoverishing millions of ordinary people. 

Without establishing the underlying causes of boom-bust cycles, employing policies in response to changes in economic indicators to counter economic cycles is likely to destabilize the economy.

Thanks to private property, trade, and the Industrial Revolution, there isn't much to be gained from wars among rich countries anymore. But things are different in the developing world.