Saving Capitalism From The Capitalists: Unleashing The Power Of Financial Markets To Create Wealth And Spread Opportunity
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Saving Capitalism From The Capitalists: Unleashing The Power Of Financial Markets To Create Wealth And Spread Opportunity

4.0 of 5 stars 4.00  ·  rating details  ·  107 ratings  ·  14 reviews
Rajan and Zingales demonstrate that free and open financial markets inspire human ingenuity, make nations competitive, and spread prosperity. In the wake of recent business scandals, financial markets are often thought of as parasitic institutions that feed off the blood, sweat, and tears of human endeavour. Saving Capitalism from the Capitalists shows that such markets in...more
Published April 3rd 2003 by Random House Business Books (first published 2003)
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Matthew
Even though this book is almost a decade old, its description of the state of the economy is a reflection of what is happening today. It's interesting how many economic books from years past still remain relevant. Do we not learn from our mistakes? Unfortunately, the book ends on a pessimistic note. As if the authors do not believe that their policy prescriptions will ever become reality. Their basic argument is that free markets do not benefit anyone, since at any point someone could be the los...more
Matthias
"I mercati non sono perfetti, né lo sono le sovrastrutture che li dirigono".

Estremamente denso, è impressionante per la sua capacità sia di descrivere nel dettaglio alcuni complessi processi finanziari (che rappresentano il "core" del libro), sia di racchiuderli tra una prima e (soprattutto) un'ultima parte che puntano invece ad una "big picture" fotografata talmente da lontano da dare quella preziosa sensazione dell' "aprire gli occhi" su come funziona il mondo (nello specifico, sul conflitto t...more
Anurag
Interestingly the book is less about economics and more about history. Not only the book proves insufficient in its rigour on data, it often comes across as over-simplifying economic problems. The overall tone of the book is quite condescending - written in short-sentences, pointing at well-known facts as if to assist quick and simple conclusions.

The bits about history are quite revealing. The authors explain the political-historical context in which free markets developed very carefully. This i...more
Paul

This book, written by two heavyweight University of Chicago financial economists, was published during our last financial market “crisis” in 2003. This was the time of the post internet equity bear market, the time of the Enron, Worldcom and Global Crossing scandals. The thesis is that free markets, for all their benefits particularly to the poor and powerless, rest on precarious political grounds. The impulse of elites to curtail the functioning of markets is strong and always a threat, particu...more
James Carmichael
A lot of this seems a little cyclically dated and simultaneously forward looking; the book was published in 2003 and there is a lot of discussion of recent economic crises leading to a backlash against open financial markets and a move towards protectionism. Which I think reinforces their central point that the political economy behind liberalized financial markets are delicate and subject in particular to these cyclical swings.

The things I got from the book are principally some detailed economi...more
Krys
This is a great book considering the currety economic climate even though the book is five years old ((C)2003). It's a great book for the moderate point of view. I have read so many polarizing and extreme views in books (Ann Ryan for libertarian and laissez-faire capitalists to Marx and the Communist Manifesto). It is nice to get a rational, factual lay-out for the balance of goverenment and the benefits of a well-developed financial system.


I really liked this book. The begining and the end of...more
Krys
This is a great book considering the currety economic climate even though the book is five years old ((C)2003). It's a great book for the moderate point of view. I have read so many polarizing and extreme views in books (Ann Ryan for libertarian and laissez-faire capitalists to Marx and the Communist Manifesto). It is nice to get a rational, factual lay-out for the balance of goverenment and the benefits of a well-developed financial system.


I really liked this book. The begining and the end of...more
Sean Safavinejad
A little dry, you have to take your time to read it, but definitely enjoyed the content.
Fiatluxury
I'm actually in a class that this guy Rajan is teaching on International Corporate Finance, and I can say that the book is way better than the class...though I'm not far into it. He's an unrepentant believer in wealth as the cure to the world's ills (and worked for the IMF, so I guess that's no shock) but basically, I'm reading this because I'm on a quest to find out why more consumption is better. He hasn't answered that yet; neither has anyone else.
Brian
An extremely lucid explication of the fragile political foundations of the free market, and the circumstances under which we can lose its benefits. Its discussion of the ways in which incumbent business joins with the dispossessed to legislate against competition during downturns is something is particularly useful, particularly given the fact that it's going on right now.
Kevinthorson
Mix of technical/historical information re: the way markets function and the the particular importance of financial markets. Some of the historical chapters were pretty tough, as the authors are neither historians or fluid writers. All in all a great explanation of the true causes of market failure.
Arjun
Starts with Chicago economic principles, but draws the right conclusions from it.
Sreenivas Rajan
This book is very transformational approach to a boring subject.
Saran
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Raghuram Govind Rajan is a world-class Indian economist who has been appointed as the twenty-third Governor of the Reserve Bank of India. He also serves as Eric J. Gleacher Distinguished Service Professor of Finance at the Booth School of Business at the University of Chicago. Rajan is also a visiting professor for the World Bank, Federal Reserve Board, and Swedish Parliamentary Commission. He for...more
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