The Great Deformation is a searing look at Washington’s craven response to the recent myriad of financial crises and fiscal cliffs. It counters conventional wisdom with an eighty-year revisionist history of how the American state—especially the Federal Reserve—has fallen prey to the politics of crony capitalism and the ideologies of fiscal stimulus, monetary central planning, and financial bailouts and bond markets. The Great Deformation explains how we got here and why these warped, crony capitalist policies are an epochal threat to free market prosperity and American political democracy.
What Sheila Bair says
The most overlooked book I’ve read. Critics try to marginalize him, but a lot of people are thinking what he has the courage to say. If you want to understand why income inequality is worsening and why boom/bust cycles are getting more and more severe, read his book.