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Thomas E. Woods, author of Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse, discusses Seymour Melman’s [.pdf] research into the societal repercussions of a military economy, the diversion of research scientists from the private sector to Cold War military programs, the transformation of the U.S. university system into a DOD jobs program and the corruption of defense contractors into companies that can’t compete in a free market.

Podcast: Play in new window | Download (Duration: 22:12 — 5.1MB)