Cowardly Capitalism: The Myth of The Global Financial Casino

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Wiley, May 15, 2001 - Business & Economics - 206 pages
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A bold challenge to accepted ideas about the need for regulation of world financial markets
In a controversial new book sure to spark debate throughout the world financial community, British financial journalist and investment expert Daniel Ben-Ami makes a strong case against the current trend toward increased government regulation of the international money markets. In stark contrast to the accepted wisdom, promulgated by the likes of Soros and Krugman, Ben-Ami avers that the real problem currently threatening global finance is not wanton risk-taking, but excessive risk aversion. Rather than reduce the likelihood of financial crises, he believes that greater intervention will bring greater problems including panic waves that could crush the economies of entire regions in a matter of hours. Writing in a lively style, devoid of mathematics, and using many allusions to current affairs, pop culture, and business publishing to illustrate his arguments, Ben-Ami makes this book an enjoyable, highly accessible read.
Daniel Ben-Ami (London, UK) is a professional investment adviser and editor in chief of a well-respected journal for investment advisers.

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The myth of the financial casino
The ideas behind the practice of modern
How risk aversion has reshaped

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About the author (2001)

DANIEL BEN-AMI has worked as a financial journalist in London for 15 years. He has written for several national publications in the UK - including the Financial Times, Guardian, Independent, Sunday Times and Prospect magazine - and numerous specialist journals. In addition he has written on the Middle East for the Economist Intelligence Unit and contributed to Cultural Difference, Media Memories (Cassell 1997) on media images of Japan. He was the editor of Investment Adviser, a specialist weekly newspaper on mutual funds from the Financial Times group, for four years. He is now a senior editor for Morningstar in London. His website can be found at

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