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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Seeker of Truth who wrote (43602)12/18/2003 11:33:26 AM
From: glenn_a  Read Replies (1) of 74559
 
Hi Malcolm.

Yeah, not sure where I first came across the term gangster capitalism, but I like it too. "Crony capitalism" is almost a benign sounding Victorian expression, kind of like those damned politicians that keep padding their pockets and granting favors to their underlings.

Gangster capitalism is much more accurate IMO. As it expressedly implies a criminal element with criminal intent. My introduction to this was US Russian specialist Professor Stephen Cohen (I can't recall his name, but I think it was) describing the criminal privatization of Russia's natural assets, and the hardship endured by the Russian people. Following that, I read ex-World Bank Chief Economist Joseph Stigliz's Globalization and its Discontent, and began to appreciate how deeply criminal much of IMF/World Bank style globalization really is. Then of course, the numerous scandals on Wall Street and U.S. accounting practices, and the propoganda onslaught of the U.S. War in Iraq, well the picture started to emerge pretty clearly.

Yep, I agree gangster capitalism is very alive and well in Japan. Don't know about China, but I don't believe the system is criminalized to the extent it is in Russia (with the expressed facilitation by the West) ... but I could be wrong.

All the best Malcolm.

Glenn
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