Saving Capitalism from the Capitalists (Crown Business, 2003)
The book is neither a defense of pure laissez-fairecapitalism, nor is it an anti-capitalist polemic. Instead, the authors develop the following arguments in the book:
Free markets can flourish over the long run only when government plays a visible role in determining the rules that govern the market and supporting it with the proper infrastructure.
Government, however, is subject to influence by organized private interests
Incumbent private interests, therefore, may be able to leverage the power of governmental regulation to protect their own economic position at the expense of the public interest by repressing the same free market through which they originally achieved success.
Thus, society must act to "save capitalism from the capitalists"—i.e. take appropriate steps to protect the free market from powerful private interests who would seek to impede the efficient function of free markets, entrench themselves, and thereby reduce the overall level of economic opportunity in society.
The authors offer the following recommendations:
Reduce incumbent capitalists' incentives to oppose markets, especially by limiting the concentration of ownership of productive assets.
Provide a social safety net for the economically distressed to help maintain broad political support for free markets.
Keep the borders of the economy open to support free trade and maintain a high level of competitive pressure on incumbent firms.
Educate the public regarding the benefits of free markets to build political support for free market policies, or more specifically, oppose governmental interventions in the market designed to protect incumbents at the expense of overall economic opportunity.
saving, capitalism, from, capitalists, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, topic, this, article, meet, wikipedia, general, notability, guideline, please, he. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages The topic of this article may not meet Wikipedia s general notability guideline Please help to demonstrate the notability of the topic by citing reliable secondary sources that are independent of the topic and provide significant coverage of it beyond a mere trivial mention If notability cannot be shown the article is likely to be merged redirected or deleted Find sources Saving Capitalism from the Capitalists news newspapers books scholar JSTOR January 2024 Learn how and when to remove this template message This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Saving Capitalism from the Capitalists news newspapers books scholar JSTOR January 2024 Learn how and when to remove this template message Learn how and when to remove this template message Saving Capitalism from the Capitalists Unleashing the Power of Financial Markets to Create Wealth and Spread Opportunity is a non fiction book by Raghuram Rajan and Luigi Zingales of the University of Chicago Booth School of Business It was published in hardcover in 2003 by Crown Business ISBN 0 609 61070 8 and released in softcover by Princeton University Press in 2004 ISBN 0 691 12128 1 Saving Capitalism from the Capitalists Crown Business 2003 The book is neither a defense of pure laissez faire capitalism nor is it an anti capitalist polemic Instead the authors develop the following arguments in the book The free market is the form of economic organization most beneficial to human society and for improving the human condition Free markets can flourish over the long run only when government plays a visible role in determining the rules that govern the market and supporting it with the proper infrastructure Government however is subject to influence by organized private interests Incumbent private interests therefore may be able to leverage the power of governmental regulation to protect their own economic position at the expense of the public interest by repressing the same free market through which they originally achieved success Thus society must act to save capitalism from the capitalists i e take appropriate steps to protect the free market from powerful private interests who would seek to impede the efficient function of free markets entrench themselves and thereby reduce the overall level of economic opportunity in society The authors offer the following recommendations Reduce incumbent capitalists incentives to oppose markets especially by limiting the concentration of ownership of productive assets Provide a social safety net for the economically distressed to help maintain broad political support for free markets Keep the borders of the economy open to support free trade and maintain a high level of competitive pressure on incumbent firms Educate the public regarding the benefits of free markets to build political support for free market policies or more specifically oppose governmental interventions in the market designed to protect incumbents at the expense of overall economic opportunity The book has been translated into the following languages Italian Japanese Mandarin Chinese Portuguese and Russian See also edit nbsp Books portal nbsp Economics portal2003 in literature A Capitalism for the People Corporate welfare Crony capitalism nbsp This article about a book on economics or finance is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Saving Capitalism from the Capitalists amp oldid 1209344037, wikipedia, wiki, book, books, library,
