Tuesday, April 7, 2009

Bad Money: Reckless Finance Failed Politics and the Global Crisis of American Capitalism, by Kevin Phillips

Very interesting and frightening book. Phillips presents the current economic crisis as seen against other similar ends of ruling nations, such as Habsburg Spain, maritime Holland, Britain before WWI, and of course, Rome.
The decline of manufacturing and the rise in finance, the corruption of the capitals and collusion of government in unfettering capitalism, the decline of international influence and the decline of the dollar, the way that the dollar is tied to oil and the rising forces of China, Russia and India all combine in this excellent and clearly written book.
Lots of economic theory, mixed well with a solid scoop of history and a big chunk of current events.

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