The Great Deformation: The Corruption Of Capitalism In America (2013) - Plot & Excerpts
In this expansive and well-researched work, the author tackles head-on one of the pressing issues of the age; the viability of the capitalist model. Drawing on his own experience both inside and out of government, Stockman makes a convincing argument for the need to rethink much of what we have come to take for granted about the corporate world and its relationship to government. Unlike many similar books on the subject, The Great Deformation devotes little time to speculation, choosing instead to let the record speak for itself. Although by no means a beginner’s guide, the book is nevertheless reader friendly, and provides a good platform for anyone who might wish to peruse the subject at greater length. I personally found the book an invaluable boon to my own understanding of the economic turmoil of recent years, in which I have a definite and lasting interest. In summary, I would thoroughly recommend this book to anyone wishing to expand their horizons on a topic that is ultimately of great importance to us all.The book isn’t cheap, with the Kindle edition weighing in at a hefty $24, but then “cheap” is a relative term. Ironically, you can pick up a hardcover edition for ten bucks less. And if you have a membership at Audible, I can personally testify to the excellent quality of the narrated edition. I began this review while still reading this book because it is easier for me to keep a record of my thoughts as I go along. I fully intended to finish--and I admire the depth of Mr. Stockman's research and graciousness in providing us with a detailed overview of economic history. I think I got the essence, though--the gov can, too easily, simply print more and more money--and just couldn't face all the rest of those pages. Some of my "take aways" from this book: 1. We actually live in a socialist economy--at least for the wealthy crony capitalists. The stock market is NOT driven by the increased output and real economic growth of companies, but by whether or not the Fed is increasing the money supply. 2. Further evidence of this is that like China building its ghost cities--square miles and square miles of new construction in which there are no people--we created a ghost military machine under Reagan and Defense Secretary Caspar Wineberger back in the 1980's. The effect was a similar socialistic impact in both countries--government job creation via paying for things not needed. (In fact how is this really different from FDR's Work Projects Administration program?)3. Unfortunately, with all that military might just sitting there, it was easy for the Bushes to be tempted into wars where that might could be used. 4. I remember as a child being told how, with nuclear weapons we lived in a world where there could really be no more war, because whoever attacked would just open it self to being wiped out by a nuclear bomb. Yet instead of a world without war, since war is too profitable for a country to forego, we have focused our great fire power on countries where the people still live in huts and fight on the ground with rocks and sticks and the commanders huddle in primitive caves--yet even then, we can't really win! Which, perhaps, is the idea since we are then allowed to keep spending money on the war which juices the economy. 5. Since 1971 when Nixon rejected the Bretton Woods gold standard agreement, we have had a fiat currency. From that point on--the value of our money was no longer determined by the market and the market price for gold, but could be manipulated by every country in the world! How much more "command economy" can you get?6. Some of the proposals in Chapter 34 I agree with. Still, reading this chapter can cause a feeling to descend upon one that one would be living in a Big Brother like police state if too many of these proposals were actually enacted. In the effort to restore our freedom the proposals would leave us exposed to the imperfections of capitalism (albeit a "more pure" capitalism), which are many.
What do You think about The Great Deformation: The Corruption Of Capitalism In America (2013)?
Everyone needs to go read this book like now because the US financial system collapses.
—rosie123are
I was surprised. An interesting, enlightening, page turner. I enjoyed the experience.
—vegeta
I like this book! It made a lot of sense to me.
—neeru
