The Great Deformation By David Stockman Online. Book Details: Language: English Published Original Language Unknown, Isbn: , Publisher. DAVID A. STOCKMAN 18 The Great Deformation of Capital Markets: How Wall Street. Got Huge .. the roots of the Great Deformation, difficult in the extreme. David Stockman not only cites Mises and Hazlitt, among other The main theme of The Great Deformation is stated clearly on the first page of.

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It’s rambling and endless.

Sure, policy decisions would have led to less economic stress, but that may not have altered human perceptions. Much like sharia law, once upon a time, and for the standard of its day, it had once been extremely effective and quite fair, if a bit harsh. There is no other. The Great Deformation is Stockman’s comprehensive account within which Reagan’s days in office are only a chapter.

I hardly know where to start on this massive book. After the JFK administration’s capitulation to Keynesian dogma and the combined profligacy Johnson’s domestic spending expansion and war largesse, America’s veformation house took a turn towards permanent deformation.

You haven’t paid any of the money back and you don’t have the money to do so, so when the debt comes due, you “roll over” your million dollar loan into a new one at one quarter of one percent.

There was a problem filtering reviews right now. This is a pessimistic view of the deterioration of public graet in the years to come. I found myself on board with him more at the start, but as he strained or discarded evidence to drop his pejorative bombs, I found it easier and easier to find the weaknesses or total lack of substance behind many of his arguments.


The entire derivatives thing wtockman over Stockman’s head, frankly. What he found instead was an administration that had been hijacked by budget busters on all sides: He focused on many of the large power-players in our economy and their roles in the financial crashes. The Kennedy administration was the beginning of the end of fiscal and monetary restraint.

It’s vicious and it’s sickening, but I know. Not sharia law, but American law.

Quarterly Journal of Austrian Economics

The clear impression is that Wall Street had engineered the takeover of the US Government by an inept panic-monger and his crew of young I-bank hangers on — or something like that. Regardless, this book is nothing short of a tour de force.

But so far I really am enjoying how Stockman is willing to toss well-deserved grenades in both political directions–right and left–and his very entertaining way with invective, especially toward the Federal Reserve.

It would be nice to stop and carefully study some of the figures and graphs that are hard to narrate.

Stockman would end macroeconomic central planning if he were king, and abolish social security, bailouts, and corporate welfare. It is supremely ironic that one of the 20th century’s greatest libertarian intellectuals laid the foundation for what Stockman argues is the mother of all deformations: But Stockman does not make many specific predictions about exactly what “Sundown in America” the final chapter will look like; stockmwn, he alludes to “collapse,” and proposes a number of steps to get America back on a financially and economically healthy course.



I did not finish this book. From the New Deal up to the housing collapse ofStockman dissects and disassembles one narrative after another in painstaking detail.

Why should the US be the exception? Run a huge trade deficit, importing far more than you export.

The Great Deformation: The Corruption of Capitalism in America by David A. Stockman

This is one of those kind of books that I decided to read the last chapter first, knowing that pages of analysis would lead to some likely deformatioon. If only the state didn’t regulate the economy; if only they didn’t collect taxes and then spend that tax money on social services and other statist policies; if only the government would stay out of the way of monied interests and corporations; if only we should be so lucky.

If you are a seller for this product, would you like to suggest updates through seller support? In this he has made a seminal geat.

Cuts through the crap and brings out bare facts without any political or ideological colouring. When I noted that Stockman had written a book on the history of the current economic crisis, and when I noted further that his credentials included service as a U. Both parties, many industries, all eating away at our economy from above and from within.