Steadfast FinancesDavid Stockman: Lobbyists Distorting Democracy & Free Market Capitalism

David Stockman: Lobbyists Distorting Democracy & Free Market Capitalism

Filed in Economy , Politics 5 comments

David Stockman, former Ronald Reagan budget director and one of the early creators of Reaganomics, might be one of the few Republicans still worth listening to. Unfortunately for the real fiscal conservatives, my formerly beloved GOP has no interest in listening to rational 5th grade mathematics but prefers to play shell games with the budget to get attention and further it’s ridiculous ideology (e.g. Planned Parenthood funding fiasco).

The Republican Congressman from the auto[mobile] states saying “we’re all for free market capitalism, but not when it affects our backyard.” We have gotten so deep into this now that I believe we no longer have [free market] capitalism, and we no longer have a democracy.

Right now, everything is up for grabs in terms of who can lobby, who can marshall campaign funds, and so forth to produce outcomes that are not really good public policy and that are at variance with what the market produces.

In other words, the game (e.g. crony capitalism) is rigged in favor of those who can afford to pay the most to change the rules in their favor.

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Posted by CJ   @   21 April 2011 5 comments
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Apr 21, 2011
2:30 pm
#1 Ed :

I saw David Stockman on (I think) Bill Maher’s show a while back. Hearing him talk was surreal–by comparison to today’s GOP, he sounded like a flaming liberal. I kept thinking this is *David F’ing Stockman*, he’s not supposed to have positions that are farther to the left than most of the Democratic party!

Apr 24, 2011
10:19 am
#2 ctreit :

Our political discourse has become blindly ideological forgetting what really matters: we need rules and regulations that keep democracy and capitalism going. Political parties in a democracy are vote maximizers with the ultimate prize to get 100% of the votes. Of course, if a party reached this goal it would no longer be a democracy. Likewise, corporations are profit maximizers with the ultimate goal to control 100% of the market. If a corporation actually reached that goal, it would no longer be competition in a capitalist system, either. As a guy like Stockman or anybody for that matter addresses these fundamental problems, he becomes castigated as a leftist, but he really is a true capitalist and democrat, isn’t he?

May 18, 2011
5:19 am
#3 Emily :

I think the game has always been rigged, maybe a bit more today than during the time of the Founding Fathers.

Nevertheless, I still see the US as having more opportunity for the individual than any other place on earth.

May 26, 2011
12:20 am
#4 Michael :

all that he said can be found in more detail in a book called “the Creature from Jekyell island-by g. Edward Griffin” the failure to understand how our economic system works translates into a hidden tax. Have you ever wondered why the government never pushed hard for increased tax’s. There is something in it for them Inflation translates into a phantom tax!

May 26, 2011
9:00 am
#5 Matt SF :

Good point Michael. Somewhere in the archives I’ve discussed inflation as a silent tax.

Moreover, I consider inflation to be a “debt friendly” or pro-business stance taken on by our government because the dollars you repay 5 years or 30 years later will be worth less (e.g. and you have more of them) in the future.

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