Stockman Feels Fury of Washington - FT.com
Excerpt:
"David Stockman, budget director for Ronald Reagan from 1981 to 1985,
is the man who will be short of dinner party invitations after becoming
the most mainstream figure to argue that all America’s economic problems
stem from the welfare state and the end of the gold standard. Mr Stockman’s new book, The Great Deformation
, highlights the enduring conservative appeal of a kind of economic
primitivism that harks back to the days when laisser-faire ruled and
macroeconomics had not been invented. 'The modern Keynesian state is broke, paralysed and mired in empty
ritual incantations about stimulating 'demand', even as it fosters a
mutant crony capitalism that periodically lavishes the top one per cent
with speculative windfalls,' wrote Mr Stockman in the New York Times article that set off a minor furore in Washington this week."
For solid Biblical commentary on the state of our economy and David Stockman's comments, check out Pastor Kevin Swanson's podcast:
Economic Metastasis: The Worst Economic Growth Since 1865
