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The Predator State How Conservatives Abandoned
the Free Market and Why Liberals Should Too
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A rethinking of free-market ideology that
8220shws how to break the spell
that conservatives have cast over the minds of
liberals for many years8221(Joseph E. Stiglitz,
Nobel Laureate in Economic Sciences). The cult
of the free market has dominated economic
policy-talk since the Reagan era. Tax cuts and
small government, monetarism, balanced
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budgets, deregulation, and free trade are the
core elements of this dogma, a dogma
so successful that even many liberals accepted
it. But a funny thing happened in the
twenty-first century. While liberals continued
to bow before the free-market altar,
conservatives in the style of George W. Bush
abandoned it altogether. In turn, principled
conservatives abandoned Bush. In this book,
iconoclastic economist James K. Galbraith first
dissects the stale remains of Reaganism and
shows how Bush and company had no choice but to
dump them in the trash. He then explores the
true nature of the Bush regime a 8220coporate
republic8221bringing the methods and mentality
of big business to public life a coalition of
lobbies, doing the bidding of clients in the
oil, mining, military, pharmaceutical,
agribusiness, insurance, and media industries
and a predator state, intent not on reducing
government but rather on diverting public cash
into private hands. The Republican Party has been
hijacked by political leaders who long since
stopped caring if reality conformed to their
message. Galbraith follows with an impertinent
question If conservatives no longer take free
markets seriously, why should liberals? Why keep
liberal thought in the straitjacket of
pay-as-you-go, of assigning inflation control to
the Federal Reserve, of attempting to 8220mae
markets work8221 Why not build a new economic
policy based on what8217sreally happening in
this country? The real economy is a complex
combination of private and public institutions,
including Social Security, Medicare and
Medicaid, higher education, the housing finance
system, and a vast federal research
establishment. The challenges8212inquality,
climate change, the infrastructure deficit, the
future of the dollar8212ar problems that cannot
be solved by incantations about the market. They
will be solved only with planning, with
standards and other policies that transcend and
even transform markets. The Predator State is a
timely, provocative read for those who wish to
understand the forces at work in our
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economy and culture, and seek to live in a nation
that is both prosperous and progressive. 8220Gal
braith offers an important perspective in this
thought-provoking book written in plain
English.82218212Boklist
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Bestselling
The Predator State How Conservatives Abandoned
the Free Market and Why Liberals Should Too
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