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The Great Deformation
The Corruption of Capitalism in America
- Narrated by William Hughes
- Length
- 36 hrs and 43 mins
- Release date
- 04-02-13
- Language
- English
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41 chapters36h 43m
Publisher’s Summary
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 best-selling author David Stockman.
David Stockman was the architect of the Reagan Revolution that was 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.
Details
- Author
- David Stockman
- Narrator
- William Hughes
- Length
- 36 hrs and 43 mins
- Release date
- 04-02-13
- Language
- English
- Category
- Money & Finance Banks & Banking
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Listener Reviews
-
It's a sad, sad story
Would you listen to The Great Deformation again? Why?
No, this is a tough read and seems to get repetitious. I will definitely listen to select bits again, but not the whole sad story of betrayal.
What was the most interesting aspect of this story? The least interesting?
The sad fact is that it seems to all have the ring of truth. True capitalism has been assassinated by the crony capitalism version favored by government.
What’s the most interesting tidbit you’ve picked up from this book?
Low interest rates have corrupted the price finding mechanism of the market.
Any additional comments?
At the end of the book, Stockman makes some recommendations as to how the train wreck might be averted. However, everything he proposes leaves you thinking, "Yeah right, that will never happen."
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Should be a required read by all students!
First, I have to say it's a bit long and David repeats himself a couple of times. But the description of political processes and why things happened in the 60's, 70's, 80's, 90's and now is instrumental in understanding what the issues are, why we face them, and how to change so this country can survive. You can't possibly understand the complexity of the political issues and financial troubles we have, until you read or listen to this book. Great job David!
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