Capitalism's Achilles heel : dirty money and how to renew the free-market system
"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."--Senator Carl Levin, (D-Michigan), Ranking Member, Permanent Subcommittee on Investigations
1 online resource (ix, 438 pages) : illustrations
9780471748588, 9780471644880, 0471748587, 0471644889
61521813
Global capitalism : aavior or predator?
pt. I. Illegality : we like the money
Playing the game
The dirty-money user manual
You're in business
Dirty money at work
The corruption industry
The criminal component : drugs, thugs, and terrorists
Global commerce and tax evasion : coin of the realm
Magnitudes and misunderstandings
How much money?
A failure rate of 99.9 percent
Well-intentioned efforts
The Patriot Act
Dirty money is on the rise
Chasing terrorists' money
Ill-intentioned loopholes
Haven and secrecy structure
Falsified pricing structure
We like the money
Challenge
pt. II. Inequality : the gap matters
The global divide
The quintile canyon
Measure for measure
It's an uncertain world
The monkey wrench
"I don't understand" and "don't tell anyone"
Myths
"Don't tell anyone"
Corruption-at long last!
Filling western coffers : mum's the word
Debtor's prison
What if?
Intellectual gap or character gap?
It's the 70 to 90 percent that matters
It can't last
Convergence?
The gap matters
Challenge
pt. III. Disutility : Bentham KOs Smith
The anguish of Adam Smith
Theory of moral sentiments
Wealth of nations
Invisible hand
Das Adam Smith problem
The tears of Adam Smith
The joys of Jeremy Bentham
Jurisprudence
Utilitarianism
Related interests
John Stuart Mill
Problems
Philosophy becomes culture
The great infusion
Twentieth-century utility
Twentieth-century utilitarianism
Inoperable doctrine, deadly practice
Disutility
Challenge
pt. IV. Run it right : trust the system
Capitalism's Achilles heel
Spreading prosperity
Delegitimizing dirty money
Tougher on corruption
Reining in the support structure
Mispricing and transfer pricing
Capitalism's contribution to slashing inequality
". . . When you pay me what you owe me"
Reconstitute the World Bank
Justice first
Renewing capitalism