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The Death of Capital

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The Product: ISBN: 0470466502 ISBN-13 / EAN: 9780470466506 Author(s): Michael E. Lewitt Format: Hardcover Year: 2010 Publisher: John Wiley and Sons Ltd Dimensions: 164mm x 237mm x 26mm Pages: 292 BUYER OFFERS: We are a retail store with set pricing and unfortunately we can't fulfil any requests to sell items for less than the listed price.

Product Description: In The Death of Capital , respected portfolio manager and longtime investment professional Michael Lewitt looks at how the U.S. economy has increasingly been dominated by short-term speculation rather than industrial expansion in recent years. These disastrous trends, described here as financialization, ignore the fact that capital itself is a highly unstable process rather than a fixed object or category. As a result of our failure to understand the true nature of capital, we have developed a financial and regulatory system that does exactly the opposite of what it should be doing-favoring obscurity over transparency and fomenting instability rather than growth. In explaining where we have gone wrong Lewitt pulls few punches in criticizing some of the counterproductive forces that have led to the death of capital-including Wall Street practices such as private equity and derivatives trading-which he views both as economically unproductive and morally misguided. Page by informative page, this timely guide: Addresses "financialization" and its consequences, such as a weaker U.S. dollar, the destruction of American industries, and the loss of American economic and political influence Exp...

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