Book notes: The Great Deformation: The Corruption of Capitalism in America
David A Stockman, The Great Deformation: The Corruption of Capitalism in America, Public Affairs, 2013, 742 pages.
This angry book is a polemic about the vital importance of sound money and the lack of it as a cause of the 2008 panic. Author David Stockman argues that flooding the economy and financial markets with bail-outs and cheap money when the US government was heavily in deficit precipitated the crisis. The problem of unsound money lies deep in economic history, long before the most
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