The Great Deformation
How Crony Capitalism Corrupted Free Markets and Democracy
By David Stockman
(PublicAffairs, Hardcover, 9781586489120, 400pp.)
Publication Date: March 26, 2013
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A coruscating, brilliantly insightful exegesis of where capitalism went wrong, how it was corrupted, and how it might be restored, by the outspoken former Reagan budget director and bestselling author
David Stockman was elected as a Michigan congressman in 1976 and joined the Reagan White House in 1981. Serving as budget director, he was one of the key architects of the Reagan Revolution plan to reduce taxes, cut spending, and shrink the role of government. He joined Salomon Brothers in 1985 and later became one of the early partners of the Blackstone Group. During nearly two decades at Blackstone and at a firm he founded, Heartland Industrial Partners, Stockman was a private equity investor. Born in Fort Hood, Texas, Stockman attended Michigan State University and Harvard Divinity School and then went to Washington as a congressional aide in 1970.