Thursday 11 April 2013

Peter Schiff on David Stockman

Peter Schiff talks about the impact and arguments of former Reagan Budget Director David Stockman, and his new book The Great Deformation: Corruption of Capitalism in America.  Because it was written by a former insider, it’s been making waves, Stockman’s critics “shooting the messenger” rather than dealing with his severe criticisms …

In reference to an op-ed piece by Stockman in the New York Times, for example, “Corruption of Capitalism in America,” Krugman dismissed the ex-congressman as a "cranky old man" without even reading the book.

Actually, I was disappointed in Stockman’s piece. I thought there would be some kind of real argument, some presentation, however tendentious, of evidence. Instead it’s just a series of gee-whiz, context- and model-free numbers embedded in a rant — and not even an interesting rant. It’s cranky old man stuff…

Naturally, Stockman fired back.

3 comments:

the druinken watchman said...

"Because it was written by a former insider, it’s been making waves, shooting the messenger rather than dealing with the arguments…"

you mean the critics of Stockman are shooting Stockman? or Stockman is shooting a messenger?

Peter Cresswell said...

Sorry, it was a little poorly written, wasn't it.

the drunken watchman said...

no ...i wasnt being pedantic, it was a serious question.

(call me slow on the uptake) but I presume the messenger being shot is Stockman?