Capitalism's Achilles Heel.
Raymond Baker, International Businessman, Guest Scholar at the Brookings Institution, and a senior fellow at the Center for International Policy.
Throughout his career, Raymond Baker a tough-as-nails businessman turned scholar has been thoroughly committed to capitalism. He has seen it all, and now he offers careful analysis and gripping examples illustrating the serious problems besetting the global free-market system. Baker will provide a fascinating insider's look at the way criminals, terrorists, and businesspeople move dirty money around the world, impoverishing billions and corrupting capitalism's ideals of fair play.
Raymond Baker: Baker is a Senior Fellow and directs the Global Financial Flows Program, researching and writing on the linkages between corruption, money laundering and poverty. From 1996 to 1999 he was a Guest Scholar at The Brookings Institution, undertaking a Program entitled, "Flight Capital, Poverty and Free-Market Economics," following receipt of a grant for research and writing from the John D. and Catherine T. MacArthur Foundation. He traveled to 23 countries to interview 335 central bankers, commercial bankers, government officials, economists, lawyers, tax collectors, security officers and sociologists on the relationships between bribery, commercial tax evasion, money laundering and economic growth.
Incredible stuff. He is wrong on one and one point only as far as I can identify. At minute 48-52 he claims NO one knew the Soviet Union would come down in 1989. In 1980, norwegian sociologist and mathematician Prof. Johan Galtung predicted the implosion of the Soviet Empire for december 1989. He was wrong... it happened in november. lol. Predicting it 10 years ahead. In writ. But this Baker is on point! If what he sais is true, this might be more worrysome than interesting.
A few years late in commenting but this is an important topic that few are aware of or understand. The capitalism that is based on Monopoly (the game) is not sustainable as the chart presented demonstrates.
There is nothing more boring that the last hour of a monopoly game when the winner is apparent but won't stop. Like the game of monopoly, corporate capitalism, will, if it continues on course, find that there is no one at the table to play the game. How is this sustainable? This is Baker's message.
What a wake up call! Hard to believe that under U.S. law it is not illegal to bring the proceeds of racketeering, stock and bond swindles, counterfeiting, slave trading, and trafficking in women into the country. How is it possible that there exist so many legal loopholes?