The book presents an insightful analysis of the factors contributing to the United States' economic decline, focusing on the roles of money, credit, and capital. It explores potential strategies for reversing this trend, offering a comprehensive understanding of the economic landscape. Through detailed examination, the author proposes actionable solutions aimed at revitalizing the American economy and ensuring its competitive edge in the global market.
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.
In this updated second edition of a highly acclaimed international bestseller, Richard Duncan explores the flaws in the international monetary system that have destabilized the global economy, potentially leading to a deflation-induced worldwide slump. The book is structured into five parts: Part One outlines how US trade deficits, currently exceeding US$1 million a minute, have created a global credit bubble. Part Two discusses the unsustainability of these deficits, predicting an inevitable US recession and a collapse in the Dollar's value. Part Three examines the detrimental effects that a US recession and Dollar collapse will have on the global economy. Part Four presents original recommendations aimed at mitigating the damage from the impending worldwide downturn and establishing the groundwork for balanced, sustainable economic growth in the future. Part Five, newly added in this edition, details the evolution of the crisis since the first edition in September 2002, analyzing how the Dollar Crisis is likely to unfold in the coming years, the anticipated policy responses, and the reasons these responses are unlikely to succeed. The inherent flaws and instability of the Dollar Standard suggest that its collapse will be one of the most significant economic events of the 21st Century.