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.
©2013 David A. Stockman (P)2013 Blackstone Audio, Inc
"Stockman performs a real service when he debunks the myths that have been associated with Reagan’s conservatism and promotes Eisenhower’s fiscal and military conservatism…Stockman forcefully conveys enormous amounts of knowledge." (Kirkus Reviews)
There is a lot of good stuff in this book - but I found it hard to follow.
The excessive use of economic jargon left me lost in many places.
He makes many good points but the delivery is more complex and technical than it needs to be.
Perhaps for those whose who are working in the finance sector it may be Ok, but for an engineer like me - it was pretty hard going for a lot of the time.
I do however agree with his overalll conclusions:'
- Capitalism has been taken captive by some elusive group
- The American tax payer has been robbed greviously of over $700 billion
- America is on the verge of financial collapse.
This book is right up there with "Human Action," "Where the Right Went Wrong" and "Palestine: Peace Not Apartheid" in terms of taking complex subjects and explaining them in ways that reveal their essential truths.
I majored in economics but the macro side was never explained or taught to me in a way that made as much sense as does this book. Mr. Stockman has rendered a great service to both the contemporary audience and future generations in producing this singular work.
Abu Dhabi, UAE
Not read print version so no basis for comparison.
Efficient and comprehensive coverage of a vast topic.
No I have not.
It's all in here!
I chose this book hoping to learn something useful about our economy. Instead I got a book that seems to be analogous of it: disjointed, complex, totally mysterious and above all, resembling an enormous Rube Goldberg machine with levers and buttons that the servants of the moneyed class pull and push like children running rampant on an active submarine. When it sinks, they will all point the finger of blame at someone else. I have long suspected this; Stockman’s book proves it. Or, at least I think it does. I could almost hear other people with his background shouting refutations and angry rebuttals at his interpretation of things.
The greatest genius in the world teaches no one if he will not speak on their level. If portions of this book were accidentally shuffled on an iPod, how would you know? Knowledgeable authors are able to present things in a simple-enough manner to get their points across, while the ignorant ramble on as if they have insight and savvy flowing over. This author handles his subject as if it is so sophisticated that it can only be talked about using a never-ending stream of esotericism; acronyms, abbreviations and similes practically tripping over one another. I know the world of high finance has a language of its own, but,..“If the trumpet makes an uncertain sound, who shall prepare for battle?” One gets the idea he is trying to impress the reader. Mostly he baffles him.
The book really opens your eyes to how corrupt Wall Street is and how the government supports crony capitalism. I have listened to David Stockman on the internet and he doesn't speak the way this book was written. It is almost like an editor or someone took David Stockman's real words and "spruced up" the language to make it seem more important. The problem is they went crazy with it. The editor should be ashamed to put such a good book into print like that.
I had watched Mr. Stockman several times on tv - internet prior to his book and he talked about various problems in the economy in an intellgent manner, but this book is dreadful. He is all over the place - rambling from one thing to another with very little real objective detail. He makes grand and unsuppported statements. After 45 minutes I could not listen to anymore. Disappointing- certainly no "Big Short" (Martin Lewis). If you like Glenn Beck then "Deformation" is for you.
Poorly written - Poorly Presented - Poorly organized
This book would challenge any narrator
The beginning - possibly the middle - most likely the end.
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