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The Great Deformation: The Corruption of Capitalism in America
     

The Great Deformation: The Corruption of Capitalism in America

3.8 16
by David Stockman
 

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A New York Times bestseller

The Great Deformation is a searing look at Washington's craven response to the recent myriad of financial crises and fiscal cliffs. It counters conventional wisdom with an eighty-year revisionist history of how the American state—especially the Federal Reserve—has fallen prey to the politics of crony

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The Great Deformation: The Corruption of Capitalism in America 3.8 out of 5 based on 0 ratings. 16 reviews.
Anonymous More than 1 year ago
If you like Kenneth Galbraith you'll be equally impressed by David Stockman's witty, insightful, acebic commentary on economics and the foibles of our economic and political leadership I could also see overtones of P.J. O'Rourke in both style and content. A useful book for college and high school Economics teachers--common sense without graphs, formulas, and Economic "laws." The good news is you get a ton of paper and ink for your money--pages. Carry this puppy around and people will think you are really "in" to Economics.
Anonymous More than 1 year ago
David Stockman explains what has happened to the American economy, but not in an easily understood manner. He jumps around in his topics, he is disorganized, and has a tendency to repeat himself. I have read this book three times to grasp his thesis. Also sometimes he assumes you know the technical details and abbreviations. But overall it is a very comprehensive look at why our economy is failing. The main reason is instead of job growth, the economy and the Federal government have been built on debt. The crash of 2008 was the end of the debt cycle growth. We are basically in a deflationary period, but it is being supported by the Fed's liquidity. Instead of going to Main Street, the asset buying is providing funds to the Federal government to create some economic activity by paying its bills and to the banks to buy stocks and bonds to keep the stock market from falling. That is why Main Street has seen no recovery and Wall Street has.
aPatriot More than 1 year ago
Stockman speaks truth to power and spares no one in this very well researched analysis of the systematic rape and pillage of our economy over the last fifty years. It is not an easy read and it's somewhat repetitive. Nevertheless, it is an invaluable contribution to our knowledge of the serious consequences - intended or not - of allowing an effective merger of the federal government and the banking industry. Americans sense that there are no solutions in sight as we face yet another showdown over the debt ceiling and await nomination of another Federal Reserve Bank chairman. What most do not understand is that our situation is even worse than it appears; this is not a partisan squabble or an academic debate over macroeconomic policy. Rather, it's an institutional crisis that cannot be resolved by traditional means. Unfortunately, there is no easy explanation - which is why Stockman takes over 700 pages to document how we got to this point. The final chapter of less than ten pages offers solutions that are not surprising, given the preceding analysis. Obviously, they are just hints at the radical nature of reforms that will be required to roll back the conquest perpetrated by capitalists and their government cronies. I have different ideas of how to proceed. However, I am grateful to the author for skillfully connecting the dots, and I strongly recommend this book to anyone concerned enough to explore our recent economic history with an open mind.
Anonymous More than 1 year ago
Well written and incisive.
Anonymous More than 1 year ago
The book is a real slog to read. It is unnecessarily long and repetitive, primarily because his material is poorly organized. But the huge virtue of the book, and that which makes it worthwhile is that he tells the truth as best he can. He is the fox who knows where the feathers are hidden.
Anonymous More than 1 year ago
Excellent info but repetitive and long presentation.
Anonymous More than 1 year ago
Outstanding book. Stockman crashes through partisan and ideological lines to show how a long series of missteps have placed the world economic order in great peril. Mixed with biting wit and deep analysis of reams of data, Stockman's observations carry much more force than other more trivial explanations of how things really work and how we got here. His vocabulary is sometimes daunting and the book at first seems disorganized. But there is a clear method to his madness and by the end the reader sits uneasily between fury and alarm, both of which seem utterly justified. Every American voter should have these topics explained to them.
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Anonymous More than 1 year ago
excellent book
Anonymous More than 1 year ago
Difficult to read -- verbose, larded with unnecessary adjectives (maybe he got paid on this basis?), and poor analogies. The author's grasp of economics is lacking.
Anonymous More than 1 year ago
So far the book is a list of Stockman's negative opinion about everything. Or perhaps that is Stockman's opinion that everything is negative. Everyone that did anything was using the situation for personal political reason. Not functioning as the times made them. The recent Legalized secularizing of Liers from Wall Street gamble with the economy, was the fault of the New Deal's social agenda. 700 pages everything that was wrong literately since 1914 appear to have 7 pages of solutions at the end.
Anonymous More than 1 year ago
If you read this book, you will have achieved a net reduction in new knowledge!