David Stockman has an interesting piece in today’s New York Times (“State-Wrecked: The Corruption of Capitalism in America”). If the title doesn’t grab you, here is a paragraph from the last page of the article:
These policies have brought America to an end-stage metastasis. The way out would be so radical it can’t happen. It would necessitate a sweeping divorce of the state and the market economy. It would require a renunciation of crony capitalism and its first cousin: Keynesian economics in all its forms. The state would need to get out of the business of imperial hubris, economic uplift and social insurance and shift its focus to managing and financing an effective, affordable, means-tested safety net.
The article provide a taste of his new book, The Great Deformation. I have not read it yet (I believe I had it on advanced order at Amazon).