The Great Deformation
The Corruption of Capitalism in America
In this revisionist history of the American state, former Reagan budget director and bestselling author David Stockman shows where capitalism went wrong, how it was corrupted, and how it might be restored. He argues that Washington -- and especially the Federal Reserve -- have fallen prey to the politics of crony capitalism and the ideologies of fiscal stimulus, monetary central planning, and financial bailouts. These policies have converged to bloat the welfare state, perpetuate the military-industrial complex, deplete the revenue base, fuel new financial bubbles, favor Wall Street with cheap money, rig stock and bond markets, crush Main Street savers, and punish family budgets with soaring food and energy costs.
New York :, PublicAffairs,, 2013
xviii, 743 pages ;,25 cm