Interviewed by Scott Horton, Mark Thornton discusses life in crony-capitalist America, where Wall Street gets bailouts and interest-free money and Main Street is stuck with Obamacare, food stamps and persistent unemployment.
The state rarely misses an opportunity to use crisis to its advantage and crony capitalism has become one of the largest benefactors of government fixes.
Stockman makes the case that the Austrian business cycle theory is a far more reliable source of understanding about the Great Depression than the Friedmanite theory.
