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The Predator State: How Conservatives Abandoned the Free Market and Why…
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Amazon.com Product Description (ISBN 141656683X, Hardcover)For nearly three decades, Washington has been in the grip of an economic orthodoxy defined by Ronald Reagan and embraced ardently by George W. Bush. It rests on four pillars: 1) Cut taxes on the wealthy, 2) Reduce regulation, 3) Fear inflation above all else, and 4) Insist on free-floating currency rates. Yet mainstream economists have spent much of the past decade examining the results, and declaring them rotten. Supply-side stimulation is a mirage. Deficits matter. Inequality matters. The disasters in Latin America--bread riots in Argentina, inflationary madness in Brazil - and Africa - bankrupt governments and capital flight - were a direct result of the Reagan-Bush agenda. James Galbraith is fed up, and determined to close the gap between what the economists know, and what the politicians ignore. In plain English, the Republican Party has been hijacked by political leaders who long since stopped caring if reality conformed to their message. Galbraith exposes the crumbling pillars one by one, naming names and pulling no punches. If you thought you should vote Republican for the sake of the economy, think again. Here's the "j'accuse" that the Bush economic agenda richly deserves - and a plan for what should replace it.
(retrieved from Amazon Thu, 12 Mar 2015 17:59:20 -0400)
The cult of the free market has dominated economic policy-talk since the Reagan revolution. Tax cuts and small government, monetarism, balanced budgets, deregulation, and free trade are the core elements of a dogma so successful that even many liberals accept it. Meanwhile, conservatives like George W. Bush have abandoned it, and the Reagan true believers have abandoned Bush. Here, James K. Galbraith, the iconoclastic economist, dissects the remains of Reaganism and shows how Bush and company had no choice except to dump them. He then explores the true nature of the Bush regime: a "corporate republic," bringing the mentality of big business to public life, and a predator state, intent not on reducing government but rather on diverting public cash into private hands. The real problems and challenges--inequality, climate change, the infrastructure deficit, the subprime crisis--cannot be solved by free markets. They will be solved only with planning, standards and other policies that transcend and even transform markets.--From publisher description.
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