Capitalism's Achilles Heel: Dirty Money and How to Renew the Free-Market System

Front Cover
John Wiley & Sons, Aug 5, 2005 - Business & Economics - 288 pages
0 Reviews
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.
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Contents

Chapter 1 GLOBAL CAPITALISM SAVIOR OR PREDATOR?
11
Part I ILLEGALITY WE LIKE THE MONEY
21
Chapter 2 PLAYING THE GAME
23
Chapter 3 DIRTY MONEY AT WORK
48
Chapter 4 MAGNITUDES AND MISUNDERSTANDINGS
162
Part II INEQUALITY THE GAP MATTERS
207
Chapter 5 THE GLOBAL DIVIDE
210
Chapter 6 I DONT UNDERSTAND AND DONT TELL ANYONE
240
Chapter 9 THE JOYS OF JEREMY BENTHAM
300
Chapter 10 PHILOSOPHY BECOMES CULTURE
312
Part IV RUN IT RIGHT TRUST THE SYSTEM
333
Chapter 11 CAPITALISMS ACHILLES HEEL
337
Chapter 12 SPREADING PROSPERITY
342
Chapter 13 RENEWING CAPITALISM
368
ACKNOWLEDGMENTS
377
Notes
383

Chapter 7 IT S THE 70 TO 90 PERCENT THAT MATTERS
262
Part III DISUTILITY BENTHAM KOs SMITH
279
Chapter 8 THE ANGUISH OF ADAM SMITH
282

Other editions - View all

Common terms and phrases

References to this book

All Book Search results »

About the author (2005)

Raymond W. Baker, after a long career in international business, is a guest scholar at The Brookings Institution and a Senior Fellow at the Center for International Policy, both located in Washington, D.C. He appears often on television and radio in the United States and overseas and often testifies before House and Senate committees. Baker has an MBA from Harvard, lived in Africa for many years, and has done business across much of the developing world.

Bibliographic information