Ep. 299 David Stockman: The Keynesian Toolbox Is Empty

The Tom Woods Show

Tom Woods

Politics, Government, News

4.8 • 3.4K Ratings

🗓️ 5 December 2014

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

What a pleasure to be joined once again by David Stockman! I strongly urge you to visit his blog and check out his latest book, The Great Deformation (see below).

Issues Discussed

Financial reporters whose articles take Keynesianism as an unstated starting point
Is the apparent Chinese prosperity real?
If China’s economy suffers a reversal, how would this affect the American consumer and economy?
Why did a Harvard professor recently urge the abolition of cash?
How can Paul Krugman claim that nonexistent “austerity” failed, but not think Japan’s experiment in Keynesianism failed?
What’s the story in Japan?

About the Guest

David Stockman, a former member of the U.S. Congress, served as chairman of the Office of Management and Budget under Ronald Reagan (1981-1985). Following a subsequent career on Wall Street, Stockman opened his own private equity fund company, Heartland Industrial Partners, in Greenwich, Connecticut.

Book

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

Articles Mentioned

Guest’s Website

David Stockman’s Contra Corner

Related Episodes

Ep. 291: Japan: Failed Keynesian Experiment (Bob Murphy)
Ep. 66: David Stockman on Krugman, the Fed, and the Future (related because at the end I ask Stockman about his views on taxes, which you may wonder about after reading one of the articles above)

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Transcript

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0:00.0	In a world of Democrats, there will be time for them to make profits.
0:05.2	Now's not that time.
0:06.4	And Republicans.
0:07.9	I've abandoned free market principles to save the free market system.
0:12.2	You need a voice of liberty.
0:15.0	Look no further.
0:16.8	You've found it.
0:18.4	Tom Woods.
0:21.2	Beware, citizen.
0:22.9	You are now departing from the world of allowable opinion.
0:26.9	The Tom Woods Show.
0:33.9	Welcome to the Tom Woods Show, episode 299.
0:38.7	It's my pleasure to welcome back to the show today, David Stockman.
0:43.0	David Stockman is former director of the Office of Management and Budget under Ronald Reagan,
0:49.0	and his most recent book, which is indispensable in which I urge upon you,
0:57.7	is The Great Deformation, the you, is the great deformation, the corruption of capitalism in America. Not only are you going to get an absolutely airtight and devastating
1:04.8	case against the bailouts of 08 and the policies that were pursued in the wake of the financial crisis. You're not
1:12.4	going to see anything better than the case that David Stockman makes against all that, but it's
1:18.4	a sweeping revisionist account of 20th century American economic history. Absolutely great.
1:26.8	And for those of you who enjoy listening to audiobooks
1:29.7	so that you can get stuff done while you're driving, you can get the great deformation as part of
1:35.2	my free audiobook offer at tomwoodsaudio.com. Everything we talk about here, links, articles mentioned, websites, all of this can be found
	...

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