David Stockman on Crony Capitalism

If anyone knows about “crony capitalism”, it’s David Stockman. Stockman was a Republican stalwart and budget director for Ronald Reagan who helped shape Reagan’s failed campaign of supply-side (or trickle-down) economics. In the following interview with Bill Moyers, Stockman discusses the fundamental corruption of the American politico-economic system. His assumptions are still quintessentially capitalist, but his insider’s analysis of America’s plutocracy is nevertheless fascinating.

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