What Are the Real Costs of Manipulated Free Markets on Capitalism? A Book Review

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This current Global Economic calamity could have been prevented, well this is what many believe and among them is a writer of the most recent economic book to hit the scene in 2009. The book is called:

“The Cost of Capitalism: Understanding Market Mayhem and Stabilizing Our Economic Future” by Robert J. Barbera; McGraw-Hill Business Book Publishers (2009).

This book comes from a rather interesting place, as Robert Barbera is a left leaning Wall Street Economist type. He claims not to be an anti-capitalist type, yet blasts capitalism at is practiced in the real world. He is a good cross-section of a Wall Streeter Liberal Ivy League Economist, as if you can put all those titles together. Perhaps, this is why his perspective is so unique and why I believe you will enjoy both his comments and his arguments in the book.

The New York Times Book review stated; “Robert J. Barbera places the blame for this abject failure in economic forecasting and government policy on a misguided confidence in the infallibility of free markets.”

The author is fairly tough on the FED chairmen Bernanke and also Greenspan. Following the author’s logic to fix this current problem, might include doing less than more once the banking system is set to equilibrium. Although, I personally completely disagree with the writer’s personal political views, he makes a strong argument and backs it up with a number of rather indisputable facts.

I’d recommend this book to anyone who is of the opposite viewpoint and wants another argument or challenge on the cause of the current economic crisis or anyone wishing to validate their left-leaning thoughts on modern day economics.

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Source by Lance Winslow