The collapse of the American financial system in 2008 has brought the weaknesses of the edifice of financial risk management, upon which the Anglo-American economic model has been premised since the 1980s, into sharper focus. It has also given rise to the larger question regarding the certainty and, thus, the viability of free-market capitalism as a universal economic system; however, while there are several erudite accounts of the collapse of the financial system and its immediate aftermath, very little space has been given to addressing the larger question. As such, Aggressive Capitalism offers a frank and honest assessment of the opportunities and challenges ahead for both the US and the wider world. This book examines the leading economic, political, and social issues not only in the context of the several rational choice theories that have come to inform behavior since the late 1960s, but also in context of the emergence of the BRIC countries, primarily China, as a challenge to entrenched Western interests.
Claude V. Chang teaches economics at Johnson & Wales University, North Miami Campus. Chang was a member of the Governing Council of the University of Guyana, served as Secretary to the Treasury of Guyana, and as ex-officio member of the Board of the Guyana Central Bank. He is a former UNDP consultant and has over twenty years of finance experience in the private sector of the US and abroad.
Chapter 1 Figures Chapter 2 Tables Chapter 3 Preface Chapter 4 Acknowledgement Chapter 5 Chapter 1 Introduction Chapter 6 Chapter 2 Economic Quagmire: The Impossible Trinity of Mounting Debt, Balanced-trade, and a Strong Dollar Chapter 7 Chapter 3 Free-market Capitalism in Terminal Crisis Chapter 8 Chapter 4 The 1990s: American Triumphalism on Steroids Chapter 9 Chapter 5 The Conflict of Rationality, Reductionism and Existentialism Chapter 10 Chapter 6 The Abiding Tension between Capitalism and Equality Chapter 11 Chapter 7 China on the World Stage Chapter 12 Chapter 8 Targeted Revaluation: A Double-edged Sword? Chapter 13 Chapter 9 Biting the Bullet: A Concluding Perspective Chapter 14 Bibliography Chapter 15 Index