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David Stockman

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David Stockman was elected as a Michigan Congressman in 1976 and joined the Reagan White House in 1981.  Serving as budget director, he was one of the key architects of the Reagan Revolution plan to reduce taxes, cut spending and shrink the role of government.  He joined Salomon Brothers in 1985 and later became one of the early partners of The Blackstone Group.  During nearly two decades at Blackstone and at a firm he founded, Heartland Industrial Partners, Stockman was a private equity investor.  Born in Fort Hood, Texas, Stockman graduated from Michigan State University and attended Harvard Divinity School and then went to Washington as a Congressional aide in 1970.

All Works

The End of Sound Money and the Triumph of Crony Capitalism

Booms and BustsCorporate WelfareU.S. EconomyOther Schools of Thought

03/14/2011Mises Daily Articles
The triumph of crony capitalism occurred on October 3rd, 2008. The event was the enactment of TARP — the single greatest economic-policy abomination since the 1930s, or perhaps ever. It was justified as a last-resort exercise in breaking the rules to save the system.

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The Forgotten Cause of Sound Money

The Henry Hazlitt Memorial Lecture. Recorded March 11, 2011, at the Ludwig von Mises Institute in Auburn, Alabama. [1:07:45]

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The Austrian Masters' Wisdom

Free MarketsBusiness CyclesInterventionismMonetary Theory

02/23/2010Mises Daily Articles
"And it is here — let's pinpoint the exact date at Greenspan's 'irrational-exuberance' call in December 1996 — where the Austrian men separate themselves from the Keynesian and Friedmanite boys."

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Impaled On Its Own Petard — The Fed’s Folly Festers Further

The Fed


Listening to even a small portion of Simple Janet's incoherent babble makes very clear that the nation's central bank is well and truly impaled on its own petard.

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