Saving Capitalism from the Capitalists
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. 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.
Praise for Saving Capitalism from the Capitalists
“Economists usually take it for granted that markets are efficient and that a free market system will therefore prevail. Rajan and Zingales do a wonderful job of arguing that free markets, particularly free financial markets, in spite of their many benefits, are under continual threat from a variety of enemies and must be constantly fought for. Although Rajan’s and Zingales’s reasoning is sophisticated, they write simply, lucidly, and compellingly, and their ideas will be accessible to the general reader. The book deserves a large audience, and it would not be an exaggeration to say that the capitalist system will be more secure if it gets one.”
— Oliver Hart, Chairman, Department of Economics, Harvard University
“Saving Capitalism from the Capitalists is an extraordinary blend of economic and political analysis, on thecone hand, and deft policy recommendations, on the other. Everyone interested in a stronger market-oriented global economy should read this book.”
— Jeffrey E. Garten, Dean, Yale School of Management
“Free markets aren’t free. Those of us who live and work in the world’s most advanced market economy tend to take them for granted, much as a fish does water. Rajan and Zingales help us look anew and see just how politically vulnerable and fragile markets are. Saving Capitalism from the Capitalists is at once erudite, insightful, and prescriptive, as it moves our understanding of markets far beyond the stereotypical arguments of the right and the left.”
— Barry Nalebuff, Milton Steinbach Professor, Yale School of Management
“Saving Capitalism from the Capitalists is an innovative, thought-provoking analysis of the capitalist system. Rajan and Zingales argue that financial markets are critical for spreading the opportunities generated by capitalism. In the last few decades, we have seen the beginnings of the effects of free financial markets on business practices, a revolutionary change that is benefiting all. However, there is a danger in taking these gains too much for granted. In this timely book, the authors point to how politically fragile financial markets are and offer valuable suggestions on how modern economies can build support for them. This is a must-read for every thinking manager, in fact, for anyone who worries about the future of the capitalist system.”
— Rajat Gupta, Managing Director, McKinsey & Company