{"product_id":"capitalisms-achilles-heel-isbn-9780471644880","title":"Capitalism's Achilles Heel","description":"For over forty years in more than sixty countries, Raymond Baker has witnessed the free-market system operating illicitly and corruptly, with devastating consequences. In \u003ci\u003eCapitalism’s Achilles Heel\u003c\/i\u003e, Baker takes readers on a fascinating journey through the global free-market system and reveals how dirty money, poverty, and inequality are inextricably intertwined. Readers will discover how small illicit transactions lead to massive illegalities and how staggering global income disparities are worsened by the illegalities that permeate international capitalism. Drawing on his experiences, Baker shows how Western banks and businesses use secret transactions and ignore laws while handling some $1 trillion in illicit proceeds each year. He also illustrates how businesspeople, criminals, and kleptocrats perfect the same techniques to shift funds and how these tactics negatively affect individuals, institutions, and countries. \u003cp\u003ePrologue 1\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 Global Capitalism: Savior or Predator? 11\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART I Illegality: We Like the Money 21\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 Playing the Game 23\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Dirty-Money User Manual 24\u003c\/p\u003e \u003cp\u003eYou're in Business 47\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 Dirty Money at Work 48\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Corruption Industry 49\u003c\/p\u003e \u003cp\u003eThe Criminal Component: Drugs, Thugs, 88\u003c\/p\u003e \u003cp\u003eand Terrorists\u003c\/p\u003e \u003cp\u003eGlobal Commerce and Tax Evasion: Coin of the Realm 133\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 Magnitudes and Misunderstandings 162\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow Much Money? 162\u003c\/p\u003e \u003cp\u003eA Failure Rate of 99.9 Percent 173\u003c\/p\u003e \u003cp\u003eWell-Intentioned Efforts 174\u003c\/p\u003e \u003cp\u003eThe Patriot Act 177\u003c\/p\u003e \u003cp\u003eDirty Money Is on the Rise 182\u003c\/p\u003e \u003cp\u003eChasing Terrorists' Money 183\u003c\/p\u003e \u003cp\u003eIll-Intentioned Loopholes 186\u003c\/p\u003e \u003cp\u003eHaven and Secrecy Structure 191\u003c\/p\u003e \u003cp\u003eFalsified Pricing Structure 194\u003c\/p\u003e \u003cp\u003eWe Like the Money 201\u003c\/p\u003e \u003cp\u003eChallenge 205\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART II Inequality: The Gap Matters 207\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 The Global Divide 210\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Quintile Canyon 210\u003c\/p\u003e \u003cp\u003eMeasure for Measure 217\u003c\/p\u003e \u003cp\u003eIt's an Uncertain World 224\u003c\/p\u003e \u003cp\u003eThe Monkey Wrench 234\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 \"I Don't Understand\" and \"Don't Tell Anyone\" 240\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMyths 241\u003c\/p\u003e \u003cp\u003e\"Don't Tell Anyone\" 246\u003c\/p\u003e \u003cp\u003eCorruption—At Long Last! 249\u003c\/p\u003e \u003cp\u003eFilling Western Coffers: Mum's the Word 252\u003c\/p\u003e \u003cp\u003eDebtor's Prison 254\u003c\/p\u003e \u003cp\u003eWhat If? 257\u003c\/p\u003e \u003cp\u003eIntellectual Gap or Character Gap? 258\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7 It's the 70 to 90 Percent that Matters 262\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIt Can't Last 262\u003c\/p\u003e \u003cp\u003eConvergence? 267\u003c\/p\u003e \u003cp\u003eThe Gap Matters 272\u003c\/p\u003e \u003cp\u003eChallenge 275\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART III Disutility: Bentham KOs Smith 279\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8 The Anguish of Adam Smith 282\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTheory of Moral Sentiments 283\u003c\/p\u003e \u003cp\u003eWealth of Nations 286\u003c\/p\u003e \u003cp\u003eInvisible Hand 290\u003c\/p\u003e \u003cp\u003eDas Adam Smith Problem 293\u003c\/p\u003e \u003cp\u003eThe Tears of Adam Smith 297\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 9 The Joys of Jeremy Bentham 300\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eJurisprudence 301\u003c\/p\u003e \u003cp\u003eUtilitarianism 302\u003c\/p\u003e \u003cp\u003eRelated Interests 305\u003c\/p\u003e \u003cp\u003eJohn Stuart Mill 307\u003c\/p\u003e \u003cp\u003eProblems 309\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 10 Philosophy Becomes Culture 312\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Great Infusion 313\u003c\/p\u003e \u003cp\u003eTwentieth-Century Utility 319\u003c\/p\u003e \u003cp\u003eTwentieth-Century Utilitarianism 321\u003c\/p\u003e \u003cp\u003eInoperable Doctrine, Deadly Practice 323\u003c\/p\u003e \u003cp\u003eDisutility 327\u003c\/p\u003e \u003cp\u003eChallenge 330\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART IV Run It Right: Trust the System 333\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 11 Capitalism's Achilles Heel 337\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 12 Spreading Prosperity 342\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDelegitimizing Dirty Money 342\u003c\/p\u003e \u003cp\u003eTougher on Corruption 346\u003c\/p\u003e \u003cp\u003eReining in the Support Structure 346\u003c\/p\u003e \u003cp\u003eMispricing and Transfer Pricing 348\u003c\/p\u003e \u003cp\u003eCapitalism's Contribution to Slashing Inequality 351\u003c\/p\u003e \u003cp\u003e\". . . When You Pay Me What You Owe Me\" 353\u003c\/p\u003e \u003cp\u003eReconstitute the World Bank 360\u003c\/p\u003e \u003cp\u003eJustice First 361\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 13 Renewing Capitalism 368\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAcknowledgments 377\u003c\/p\u003e \u003cp\u003eNotes 383\u003c\/p\u003e \u003cp\u003eIndex 425\u003c\/p\u003e \"...Challenging the view that financial scandal and tax dodging are isolated cases in an otherwise robust system, \u003ci\u003eCapitalism's Achilles Heel\u003c\/i\u003e shows how these 'negative externalities', as economists call them, have generated a spirit of lawlessness that threatens the integrity of the market system and the finance industry as a whole...\" (\u003ci\u003eThe London Review of Books\u003c\/i\u003e, 6th October 2005) \u003cp\u003e\"...Baker is an ethical capitalist - at least - more so than most - his concern is the incredible rapacity and corruption of modern capitalism - a must-read for those on the left....\" (\u003ci\u003eThe Morning Star\u003c\/i\u003e, 28th September 2005)\u003c\/p\u003e \u003cp\u003e“…excellent book…well-researched…” (\u003ci\u003eFinancial Times\u003c\/i\u003e, 10th August 2005)\u003c\/p\u003e \u003cb\u003eRaymond W. Baker\u003c\/b\u003e, after a long career in international business, is a guest scholar at The Brookings Institution and a Senior Fellow at the Center for International Policy, both located in Washington, D.C. He appears often on television and radio in the United States and overseas and often testifies before House and Senate committees. Baker has an MBA from Harvard, lived in Africa for many years, and has done business across much of the developing world.  PRAISE FOR CAPITALISM'S ACHILLES HEEL  \u003cp\u003e\"The corrosive effects of bribery, money laundering, tax evasion, and fraudulent transfer pricing need to be analyzed and explained. Raymond Baker, a pioneer in this research, shows how illicit funds move through world financial systems and lead to increased corruption, poor distribution of resources, and damage to the rule of law. I hope his passion for the subject will inspire others to delve into the legal, economic, and social consequences of dirty money and what must be done to stop it.\"\u003cbr\u003e —Senator Carl Levin, (D-Michigan), Ranking Member, Permanent Subcommittee on Investigations\u003c\/p\u003e \u003cp\u003e\"In today's world, expanded trade relationships and rapid advances in communication technology foster opportunities for greater political freedom, economic growth, and higher living standards around the world. These developments also create new vulnerabilities for the international financial system. This book takes a look at these challenges head on and makes an important contribution to the public debate.\"\u003cbr\u003e —Senator Charles Grassley, (R-Iowa), Chairman, Senate Finance Committee\u003c\/p\u003e \u003cp\u003e\"This groundbreaking book will open your eyes to two things: how illegal money is shifted out of poor countries into rich countries and how these illegal flows add to poverty, misery, and inequality in poor countries themselves. Can this be stopped when those in power think they are benefiting? Public pressure, as was focused on slavery two centuries ago, is the first step toward change.\"\u003cbr\u003e —Branko Milanovic, Economist, World Bank and author of Worlds Apart\u003c\/p\u003e \u003cp\u003e\"Raymond Baker's comprehensive book on illicit money is required reading for anyone involved in the global economy. His painstaking, fact-based analysis depicts an insidious phenomenon that threatens general welfare and requires urgent corrective action.\"\u003cbr\u003e —George Vojta, Chairman, Caux Round Table, former vice chairman, Bankers Trust\u003c\/p\u003e \u003cp\u003e\"A superlative and enlightening overview of the world of corrupt money in its many forms, what it is doing to human civilization, why it must be stopped, and how this can be accomplished. Raymond Baker critiques global capitalism as it is functioning today from neither a liberal nor conservative perspective but from the standpoint of a believer in and supporter of free markets and free trade. A brilliant tour de force!\"\u003cbr\u003e —Brent Blackwelder, President, Friends of the Earth\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988883751141,"sku":"NP9780471644880","price":45.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780471644880.jpg?v=1761781910","url":"https:\/\/k12savings.com\/es\/products\/capitalisms-achilles-heel-isbn-9780471644880","provider":"K12savings","version":"1.0","type":"link"}