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“Political Hacks, Statists, and Keynesians” (Or Do I Repeat Myself)

April 20, 2013 in Economics

By Thomas DiLorenzo

“[T]he clique of political hacks around Karl Rove who ran the Bush White House were so unlettered in the requisites of sound money and free market economics that, over and over, they caused the nation’s top economic jobs to be filled by statists and Keynesians.  Thus, professors Glenn Hubbard, Greg Mankiw, and Ed Lazear had no problem whatsoever advising George Bush that two giant tax cuts and two unfunded wars were entirely copacetic from a fiscal viewpoint.  After all, the huge resulting deficits provided a Keynesian pick-me-up to the prosperous classes.”

– David Stockman, The Great Deformation: The Corruption of Capitalism in America, p. 50.

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