Saving Capitalism from the Capitalists: Unleashing the Power of Financial Markets to Create Wealth and Spread Opportunity

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Princeton University Press, Aug 23, 2004 - Business & Economics - 369 pages
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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. They are the catalyst for inspiring human ingenuity and spreading prosperity. The perception of many, especially in the wake of never-ending corporate scandals, is that financial markets are parasitic institutions that feed off the blood, sweat, and tears of the rest of us. The reality is far different. This book breaks free of traditional ideological arguments of the Right and Left and points to a new way of understanding and spreading the extraordinary 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

Contents

Introduction
1
Does Finance Benefit Only the Rich?
25
ShylockTransformed
44
The Financial Revolution and Individual
68
The Dark Side of Finance
93
The Bottom Line on Financial Development
108
The Taming of the Government
129
The Impediments to Financial Development
157
Why Was the Market Suppressed?
226
The Decline and Fall of Relationship Capitalism
247
The Challenges Ahead
275
Saving Capitalism from the Capitalists
293
Conclusion
311
Notes
315
Bibliography
342
Index
359

When Does Finance Develop?
172
THE GREAT REVERSAL
201

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About the author (2004)

Raghuram Rajan is an electrical engineering graduate from the Indian Institute of Technology in Delhi. He earned his M.B.A. from the Indian Institute of Management, Ahmedabad, and his Ph.D. from MIT. He was the Economic Counselor and Director of Research at the International Monetary Fund from October 2003 until December 2006. Before this, Rajan taught at the Graduate School of Business at the University of Chicago. In 2003, Rajan was awarded the inaugural Fischer Black Prize by the American Finance Association for contributions to finance by an economist under 40. Rajan's research is in banking, corporate finance, and economic development, and the role finance plays in it. His papers have been published in all the top economics and finance journals, and he has served on the editorial board of the American Economic Review and the Journal of Finance. He written works include Fault Lines: How Hidden Cracks Still Threaten the World Economy. He also has an earlier book co-authored with Luigi Zingales entitled Saving Capitalism from the Capitalists.

Luigi is the Robert C. McCormack Professor of Entrepreneurship and Finance at the University of Chicago.

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