Left-Wing Attack on David Stockman Misfires

 

Liberty Classroom

VERBATIM

by Tom Woods on April 22, 2013 

 

Over at the New Yorker, James Surowiecki scolds David Stockman, author of the smash bestseller The Great Deformation: The Corruption of American Capitalism, for blaming the Federal Reserve for the boom-bust cycle. Why, we had booms and busts before the Fed, says Surowiecki.

If only he’d seen our resource page on Economic Cycles Before the Fed, instead of just repeating the same establishment argument every Fed opponent has heard a million times before.