David Stockman was the architect of the Reagan Revolution meant to restore sound money principles to the U.S. 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 nonpartisan, surprising catalog of the corrupters and defenders. His analysis overturns the assumptions of Keynesians and monetarists alike, showing how both “liberal” and “neo-conservative” 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.
"...its subject matter is so interesting, and its prose style so lively and engaging, that you will hardly notice the pages going by." "...Thanks to The Great Deformation, not a shred of the regime’s propaganda is left standing. This is truly the book we have been waiting for, and we owe David Stockman a great debt." — Llewellyn H. Rockwell, Jr., Founder of the Mises Institute
"If David Stockman had just smashed and demolished the arguments for the bailouts, we would be in his debt. But this book is a revisionist, anti-Fed overview of the twentieth century. Absolutely absorbing and critically important. One of the top few books I have read in the past ten years." — Thomas E. Woods Jr., Historian and Bestselling Author
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Austrian Economics, Freedom and Peace