FSN In Depth: Richard Duncan, The Corruption of Capitalism
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.
Richard Duncan is the author of The Dollar Crisis: Causes, Consequences, Cures – the bestseller that accurately predicted the global economic crisis that began in the 2008 and the government’s unorthodox policy response to it. Since beginning his career as an equities analyst in Hong Kong in 1986, Duncan has served as a global head of investment strategy at ABN AMRO Asset Management in London, worked as a financial sector specialist for the World Bank in Washington DC, 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 Asian Crisis and is now chief economist at Blackhorse Asset Management.