The Failure of Laissez Faire Capitalism
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The Failure of Laissez Faire Capitalism

By (author) Paul Craig Roberts

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Even as the view of America as a rogue state consolidates abroad, Americans appear largely bystanders at the spectacle of their government running amok. People forget the myriad instances of their government's flouting of the Constitution and international legal norms - if ever they were aware of them in the first place - accepting to live in the increasingly pernicious "new normal" with little protest. This remarkable anthology of columns documents and reminds us of the extraordinary developments that, in their accumulation, have led to the destruction of accountable and moral government in the US. Few American commentators have cut more clearly through the deepening deceit, hypocrisy and outright criminality that has infested official Washington since 9/11 than Paul Craig Roberts. His scathing critique sheds much-needed light on the country's impending nightmare - economic collapse, internal repression, ongoing wars, and rising rejection by friends and foes alike. How America Was Lost marks Roberts as one of the most prescient and courageous moral commentators in America today. America's fate was sealed when the public and the anti-war movement bought the government's 9/11 conspiracy theory. The government's account of 9/11 is contradicted by much evidence. Nevertheless, this defining event of our time, which has launched the US on interminable wars of aggression and a domestic police state, is a taboo topic for investigation in the media. It is pointless to complain of war and a police state when one accepts the premise upon which they are based. These trillion dollar wars have created financing problems for Washington's deficits and threaten the U.S. dollar's role as world reserve currency. The wars and the pressure that the budget deficits put on the dollar's value have put Social Security and Medicare on the chopping block. Former Goldman Sachs chairman and U.S. Treasury Secretary Hank Paulson is after these protections for the elderly. Fed chairman Bernanke is also after them. The Republicans are after them as well. These protections are called "entitlements" as if they are some sort of welfare that people have not paid for in payroll taxes all their working lives. With over 21 per cent unemployment as measured by the methodology of 1980, with American jobs, GDP, and technology having been given to China and India, with war being Washington's greatest commitment, with the dollar over-burdened with debt, with civil liberty sacrificed to the "war on terror," the liberty and prosperity of the American people have been thrown into the trash bin of history. The militarism of the U.S. and Israeli states, and Wall Street and corporate greed, will now run their course.

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  • Paperback | 190 pages
  • 152 x 226 x 18mm | 339.99g
  • 01 Jun 2013
  • Clarity Press
  • Atlanta, GA
  • English
  • black & white line drawings, charts
  • 0986036250
  • 9780986036255
  • 127,853

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Author Information

Dr. Paul Craig Roberts was Assistant Secretary of the US Treasury in the Reagan administration, a member of the US Congressional staff, associate editor and columnist for the Wall Street Journal. He was Business Week's first outside columnist, a position he held for 15 years, and columnist for a decade for Scripps Howard News Service, carried in 300 newspapers. He was also a columnist for the Washington Times and for newspapers in France and Italy and for a magazine in Germany, as well as a contributor to The New York Times and a regular feature in the Los Angeles Times.. He was awarded the US Treasury's Meritorious Service Award as well as the French Legion of Honor by the Mitterrand government. Roberts has held academic appointments in six universities, including Stanford and the William E. Simon Chair in Political Economy, Center for Strategic and International Studies, Georgetown. He has testified before committees of Congress on 30 occasions. He was educated at Georgia Tech, the University of Virginia, the University of California, Berkeley, and Oxford University where he was a member of Merton College.

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Review quote

"Clearly, this empirically based, theoretically challenging book is one of the most important works of our time." Johannes Maruschzik, Preface to the German Edition

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