Note: The views expressed on are not necessarily those of the Mises Institute. It tells us in clear and simple terms what is wrong and what needs to be done about it. If we are going to do anything about our present economic problems, and also give the poor a chance at a better life, we will need to eliminate crony capitalism and restore an honest economy.Īlthough full of hair-raising stories, this book is also about solutions. But the problem extends far beyond Wall Street to every corner of America. Rather the Crash was caused by the longstanding Wall Street–Washington partnership. This situation was not caused, as many suppose, by the Crash of 2008. Where Wall Street stops and Washington begins is impossible to say. 'Hunter Lewis, co-founder ofthe investment firm Cambridge Associates, begins with cautionary tales of how crony capitalism hasdecimated economic growth in such countries as Argentina, Zimbabwe, and Russia.He is concerned that the United States is following the same path, with direconsequences in the offing. In reality it is the epicenter of American crony capitalism. Many people regard Wall Street as the epicenter of American capitalism. But increasingly it is America's system as well. This is the system that prevailed in Russia after the fall of Communism. The people involved try to keep most of it concealed behind closed doors. When politicians need money, they also know whom to call. When private interests need a political favor, they know whom to call.
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