The Corruption of Capitalism: A strategy to rebalance the global economy and restore sustainable growth

Publication Type:

Book

Authors:

Richard Duncan

Source:

CLSA Books (2010)

Abstract:

Book Description
The global economy is in crisis. The financial system has failed, international trade has contracted sharply and unemployment has soared. Only a multi-trillion dollar government intervention is preventing a worldwide breakdown on the scale of the Great Depression.

In The Corruption of Capitalism, Richard Duncan provides a clear and comprehensive explanation of how this calamity came about. He also offers a strategy to permanently resolve it. The book is divided into three parts. Part I describes the present state of the global economy and the government life support keeping it afloat. Part II details the long series of US policy mistakes responsible for this disaster. Part III outlines the actions required to restructure the US economy and restore global economic growth.

Capitalism has been corrupted by paper money and debt. Sustainable prosperity will require a return to economic orthodoxy. This book maps the way back.

About the Author
Richard Duncan is the author of The Dollar Crisis: Causes, Consequences, Cures (John Wiley & Sons, 2003), an international bestseller that predicted the current global economic disaster with extraordinary accuracy.

Since beginning his career as an equities analyst in Hong Kong in 1986, Richard has served as global head of investment strategy at ABN AMRO Asset Management in London, worked as a financial sector specialist for the World Bank in Washington D.C., and headed equity research departments for James Capel Securities and Salomon Brothers in Bangkok. He also worked as a consultant for the IMF in Thailand during the Asia Crisis. He is now a partner at Blackhorse Asset Management in Singapore.

Richard has appeared frequently on CNBC, CNN, BBC and Bloomberg Television, as well as on BBC World Service Radio. He has published articles in The Financial Times, The Far East Economic Review, FinanceAsia and CFO Asia. He is also a well-known speaker whose audiences have included The World Economic Forum s East Asia Economic Summit in Singapore, The Euromoney Forex Forum in London, The Chief Financial Officers Roundtable in Shanghai, and The World Knowledge Forum in Seoul.

Richard studied literature and economics at Vanderbilt University (1983) and international finance at Babson College (1986); and, in between, spent a year backpacking around the world.

Notes:

The Urgency of U.S. Financial-Sector Reform: Why Paul Volcker Is Right (http://www.theglobalist.com/StoryId.aspx?StoryId=8274)