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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Seeker of Truth who wrote (43602)	12/18/2003 11:33:26 AM
From: glenn_a	Read Replies (1) \| Respond to 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

To: Seeker of Truth who wrote (43602)	12/18/2003 8:12:36 PM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

Hello Malcolm, <<... future of capitalism in China from this aspect, i.e. the degree of gangsterization>> ... effectively, as in practically speaking, gangsterization has no material chance in China on any pervasive and sustaining scale, because the people in the countryside are quite able to gang up on gangsters and kill them, and the politicians in the cities must terminate gangsters the people are p*ssed off about, else they lose their jobs when Beijing finds out they are not doing their jobs. About 40% of my active work is helping international companies recover their goodies and rights, and so I am quite familiar with the process by which thugs are removed from positions of authority. Chugs, Jay