Capitalism’s Achilles Heel

Linked with Global Financial Integrity.

Published on Global Financial Integrity, by Raymond W. Baker, not dated.

A fascinating insider’s look at the way criminals, terrorists and businesspeople move money around the world, impoverishing billions and corrupting capitalism’s ideals of fair play.

Throughout his career, Raymond Baker—a tough-as-nails businessman turned scholar—has been thoroughly committed to capitalism. He has seen it all, and now he offers careful analysis and gripping examples illustrating the serious problems besetting the global free-market system. With this book, Baker provides a fascinating insider’s look at the way criminals, terrorists, and businesspeople move dirty money around the world, impoverishing billions and corrupting capitalism’s ideals of fair play. In a highly readable account, he links banking, commerce, law, economics, and philosophy with passionate advocacy of steps that must be taken to renew capitalism’s mandate for the spread of global prosperity.  

For over forty years in more than sixty countries, Raymond Baker has witnessed the free-market system operating illicitly and corruptly, with devastating consequences for scores of fragile nations. Now, in Capitalism’s Achilles Heel, Baker—the internationally respected authority on money laundering, corruption, and development issues—takes you on a fascinating journey that winds its way across the global free-market system and reveals how dirty money, poverty, and inequality are inextricably intertwined.

You’ll discover how little illicit transactions lead to massive illegalities used by drug kingpins, racketeers, terrorist masterminds, and multinational corporations. You’ll learn how staggering global income disparities are worsened by the illegalities that have come to permeate international capitalism. And you’ll see how distorted philosophical underpinnings appear to justify flaws in the practice of capitalism … (full text).

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