Saving Capitalism from the Capitalists: Unleashing the Power of Financial Markets to Create Wealth and Spread Opportunity

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Princeton University Press, Aug 23, 2004 - Business & Economics - 369 pages

Saving Capitalism from the Capitalists is a groundbreaking book that will radically change our understanding of the capitalist system, particularly the role of financial markets. They are the catalyst for inspiring human ingenuity and spreading prosperity. The perception of many, especially in the wake of never-ending corporate scandals, is that financial markets are parasitic institutions that feed off the blood, sweat, and tears of the rest of us. The reality is far different.

This book breaks free of traditional ideological arguments of the Right and Left and points to a new way of understanding and spreading the extraordinary wealth-generating capabilities of capitalism.

 

Contents

PrefacePreface xiiiix
1
THE BENEFITS OF FREE FINANCIAL MARKETS
23
Shylock Transformed
44
The Financial Revolution and Individual
68
The Dark Side of Finance
93
The Bottom Line on Financial Development
108
WHEN DO FINANCIAL MARKETS EMERGE?
127
The Impediments to Financial Development
157
THE GREAT REVERSAL
201
Why Was the Market Suppressed?
226
The Decline and Fall of Relationship Capitalism
247
The Challenges Ahead
275
Saving Capitalism from the Capitalists
293
Conclusion
311
Bibliography
342
Index
359

When Does Finance Develop?
172

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