Capitalism's Achilles Heel

Beschreibung

For over forty years in more than sixty countries, Raymond Baker has witnessed the free-market system operating illicitly and corruptly, with devastating consequences. In Capitalism's Achilles Heel, Baker takes readers on a fascinating journey through the global free-market system and reveals how dirty money, poverty, and inequality are inextricably intertwined. Readers will discover how small illicit transactions lead to massive illegalities and how staggering global income disparities are worsened by the illegalities that permeate international capitalism. Drawing on his experiences, Baker shows how Western banks and businesses use secret transactions and ignore laws while handling some $1 trillion in illicit proceeds each year. He also illustrates how businesspeople, criminals, and kleptocrats perfect the same techniques to shift funds and how these tactics negatively affect individuals, institutions, and countries.

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Raymond W. Baker

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Business & Management Business & Management Special Topics Spezialthemen Wirtschaft u. Management Wirtschaft Wirtschaft u. Management

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"...Challenging the view that financial scandal and tax dodging areisolated cases in an otherwise robust system, Capitalism'sAchilles Heel shows how these 'negative externalities', aseconomists call them, have generated a spirit of lawlessness thatthreatens the integrity of the market system and the financeindustry as a whole..." (The London Review of Books,6th October 2005) "...Baker is an ethical capitalist - at least - more so thanmost - his concern is the incredible rapacity and corruption ofmodern capitalism - a must-read for those on the left...." (TheMorning Star, 28th September 2005) "...excellent book...well-researched..."(Financial Times, 10th August 2005)
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