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A New York Times bestseller 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. These forces have left the public sector teetering on the edge of political dysfunction and fiscal collapse and have caused America's private enterprise foundation to morph into a speculative casino that swindles the masses and enriches the few. Defying right- and left-wing boxes, David Stockman provides a catalogue of corrupters and defenders of sound money, fiscal rectitude, and free markets. The former includes Franklin Roosevelt, who fathered crony capitalism; Richard Nixon, who destroyed national financial discipline and the Bretton Woods gold-backed dollar; Fed chairmen Greenspan and Bernanke, who fostered our present scourge of bubble finance and addiction to debt and speculation; George W. Bush, who repudiated fiscal rectitude and ballooned the warfare state via senseless wars; and Barack Obama, who revived failed Keynesian “borrow and spend” policies that have driven the national debt to perilous heights. By contrast, the book also traces a parade of statesmen who championed balanced budgets and financial market discipline including Carter Glass, Harry Truman, Dwight Eisenhower, Bill Simon, Paul Volcker, Bill Clinton, and Sheila Bair. Stockman's analysis skewers Keynesian spenders and GOP tax-cutters alike, showing how they converged to bloat the welfare state, perpetuate the military-industrial complex, and deplete the revenue base—even as the Fed's massive money printing allowed politicians to enjoy “deficits without tears.” But these policies have also fueled new financial bubbles and favored Wall Street with cheap money and rigged stock and bond markets, while crushing Main Street savers and punishing family budgets with soaring food and energy costs. 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.
This timely book provides an essential guide to the social, political and economic upheavals in post-communist Europe.
The Rolduc Polymer Meetings, of which the contents of this volume represent the third, are already on their way to occupying a unique place in the crowded calendar of symposia on every aspect of polymer science and engineering. They combine manageable meeting size with a theme, 'Integration of Fundamental Polymer Science and Technology', which is often discussed but seldom realized in practice. The technological, or applied, areas of polymers have perhaps received more emphasis historically than those of other allied disciplines. Indeed, various plastic and rubber materials were successful items of commerce long before the macromolecular concept itself was firmly established. The more fundamental aspects of the field were also largely developed in industrial laboratories. The early work of Mark and Meyer at IG Farben, and that of Carrothers and Flory at Du Pont, are good examples of this. The present situation, in which polymers are being applied to more and more demanding end uses, from high performance materials on the one hand to the biomedical and electronics fields on the other, caIls for an ever greater understanding of the basic scientific principles governing their behavior. It is evident, therefore, that interactions between those engaged in the 'pure' and 'applied' parts of the field must be promoted effectively. The Rolduc Polymer Meetings contribute significantly to such interactions, not only by interweaving technological and scientific presentations, but also by providing a forum for the participants to discuss problems of mutual interest in all their complexity.

Fascism vs. Capitalism: The Central Ideological Conflict of Our Times

“Fascism” has become a term of general derision and rebuke. It is tossed casually in the direction of anything a critic happens to dislike.

But fascism is a real political and economic concept, not a stick with which to beat opponents arbitrarily. The abuse of this important word undermines its true value as a term referring to a very real phenomenon, and one whose spirit lives on even now.

Fascism is a specific ideology based on the idea that the state is the ideal organization for realizing a society’s and an individual’s potential economically, socially, and even spiritually.

The state, for the fascist, is the instrument by which the people’s common destiny is realized, and in which the potential for greatness is to be found. Individual rights, and the individual himself, are strictly subordinate to the state’s great and glorious goals for the nation. In foreign affairs, the fascist attitude is reflected in a belligerent chauvinism, a contempt for other peoples, and a society-wide reverence for soldiers and the martial virtues.

Lew Rockwell, in this new volume, examines the starkly contrasting systems of capitalism and fascism, noting pro-fascist trends in recent decades as well as the larger historical trends in the United States and internationally.

In Section One, Rockwell focuses on the nature of fascism and its influence in Western society, with a focus on American political and economic institutions.

In Section Two, Rockwell examines capitalism as the enemy of, and antidote to fascism.

Combining economics, history, and political philosophy, this book doesn’t just provide a diagnosis of what ails American and Western society, but also sheds light on how we might repair the damage that has been done, and with the help of the intellectual work of great minds like Murray Rothbard and Ron Paul, we might as a society shed the fascism of our times and look to freedom instead.

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