I'ts really not as bad a book as some others seem to say. Yes, the guy has a mug shot of himself on the cover, and yes, in some areas he advertises some of his other books, yes, the back of the book lists him as an "acknowleged master of ALL Taoist arts" (which in itself seems highly impossible,)and yes,(the big one) he did publish the Diamond Sutra as a later work of Lao Tzu in his Hua Hu Ching.
However, none of the views he expresses are out of line or context with historical Taoist views. His philosophy seems bordered on Taoism blended with a drop of Confucianism, and to a smaller extent Buddhism (he says as much on p. 85 of this book,) which is not all that unusual (Complete Reality School of Taoism maybe?) Taoists throughout history were known to blend teachings from various other philosophies.
The text itself was a curious read. It did offer some brilliant insights and food for thought which I found useful. It's more of a collection of advice with no particular sequence. You can open and read any chapter at random, and not miss a thing. At times his advice can be simple and practical, at times an eye opener.
Overall, this is not a definitive book on Taoism, but it IS a good overview of some general Taoist beliefs. Don't forget, when the Tao Te Ching came to the west, it was understood within our own unique context, and translations were flawed due to omissions, misinterpretations, or "corrections" on the part of the translators. Much of what we perceive as Taoism based on the Tao Te Ching is flawed (or rather, different from what it was) to begin with.
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