The Capitalists of the 21st Century

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Ruegemer presents a typology of new financial players that have gained dominance since deregulation and the last financial crisis. These include large capital organizers, private equity funds, hedge funds, venture capital investors, and private investment banks, which have become more influential than traditional banks. They engage in global buying, selling, and restructuring of banks, companies, and public enterprises, operating without accountability to national economies. By influencing governments and international financial institutions, they reduce labor incomes while increasing private gains, often utilizing financial havens. Their operations are supported by law firms, rating agencies, PR firms, management consultants, chartered accountants, and central banks. The book also explores the relationship between the European Union and the USA regarding transatlantic capital, military ties, and underlying conflicts. Additionally, it examines the alternative model of capitalism in China, where imported capitalism from the USA, Japan, Taiwan, and Western Europe is evolving, leading to rising incomes across all classes, particularly labor incomes. China’s approach to globalization is characterized by a lack of military expansion. Ultimately, the book questions the trajectory of human society in relation to international law, human rights, and social and labor rights.