Ep. 299 David Stockman: The Keynesian Toolbox Is Empty

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

• Keynesian Hit Men on the Road — Krugman and Rogoff Peddling Toxic Advice
• How Bloomberg’s Algo-Writers Serve the Cult of Keynesian Central Banking
• Why Japan’s Money-Printing Madness Matters

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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