The Great Deformation

The Great Deformation

The Corruption of Capitalism in America

Downloadable Audiobook - 2013
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A coruscating, brilliantly insightful exegesis of where capitalism went wrong, how it was corrupted, and how it might be restored, by outspoken former Reagan budget director and bestselling author David Stockman David Stockman was the architect of the Reagan Revolution meant to restore sound money principles to the United States government. It failed, derailed by politics, special interests, welfare, and warfare. In The Great Deformation, Stockman describes how the working of free markets and democracy has long been under threat in America and provides a surprising nonpartisan catalog of the corrupters and defenders. His analysis overturns the assumptions of Keynesians and monetarists alike, showing how both liberal and neoconservative interference in markets has proved damaging and often dangerous. Over time, crony capitalism has made fools of us all, transforming Republican treasury secretaries into big-government interventionists and populist Democrat presidents into industry-wrecking internationalists. Today's national debt stands at nearly $16 trillion. Divided equally among taxpayers, each of us is $52,000 in debt. This book explains how we got here-and why this warped crony capitalism has betrayed so many of our hopes and dreams.
Publisher: [United States] :, Blackstone Audio, Incorporated :, Made available through hoopla,, 2013.
Edition: Unabridged.
ISBN: 9781470840044
Branch Call Number: eAudiobook hoopla
Characteristics: 1 online resource (1 audio file (36hr., 39 min.)) :,digital.
data file, rda
digital, Digital recording
Additional Contributors: Hughes, William 1957-


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Jun 10, 2013

The key point is that Government action does not improve on market operation. The market itself will suppress capitalist excess if reckless firms are left to fail when they bet wrong.

The 2008-2009 bailouts protected predatory culprits from well-deserved punishment by the market they had abused.

Government actions to boost the economy only make it worse; seeming statistical improvements are fraudulent data-manipulations. American prosperity is delusional, and worse trouble lies ahead.

Stockman, a one-time Reaganite, blames Reagan and other Republicans fully for contributing to our plight.

Massive military and welfare spending are both suicidal. Enriching war-profiteers is corrupt cronyism and leads to crazy invasions.
Helping the poor borrow and spend merely leads them into debt-slavery.

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