Saving Capitalism From The Capitalism

Front Cover
Collins, Dec 25, 2013 - Business & Economics - 392 pages

For nearly two centuries, scholars and politicians have debated the future of capitalism. In India, its critics have viewed it as intrinsically unstable, seeing signs of its collapse in every fall of the Mumbai stock market. Its supporters see it as the best way to allocate resources. In between are all those searching for a middle ground-a kinder capitalism or a more market-driven socialism.

Raghuram G. Rajan, one of the few economists who had warned of a financial sector crisis before it turned to reality in 2008, and co-author Luigi Zingales, who has been involved in developing interventions to cope with its aftermath, argue that free, healthy and competitive financial markets occupy this very delicate middle ground. They are an extraordinarily effective tool in spreading opportunity and fighting poverty. Without them, economies would invariably ossify and decline.

Yet, financial markets are among the most highly criticized and least understood parts of the capitalist system-because of the executives who extol their virtues with every breath while attempting to extinguish them with every action.

Published previously but just as relevant today, 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. It breaks free of traditional ideological arguments of the right and left and points to a new way of understanding the wealth-generating capabilities of capitalism.

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Saving capitalism from the capitalists: unleashing the power of financial markets to create walth and spread opportunity

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Given the downfall of such corporate giants as Enron and Worldcom, other white-collar malfeasance, and today's bearish stock-market conditions, it may not seem like such a great time for capitalism ... Read full review

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About the author (2013)

Indian economist Raghuram G. Rajan is the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. He was the 23rd Governor of the Reserve Bank of India between September 2013 and September 2016. He is also the author of Saving Capitalism from the Capitalists: Unleashing the Power of Financial Markets to Create Wealth and Spread Opportunities.

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