Why attempts to curb financial risk ultimately slow economic growth
6/4/2001
Are global financial markets out of control as "casino capitalists" like Susan Strange have claimed? In Cowardly Capitalism, financial journalist Daniel Ben-Ami proposes that just the opposite is true—financial markets and, ultimately, society are adversely affected by a culture of pervasive risk-avoidance. Ben-Ami presents a three-fold exploration of this topic. First he examines how financial markets are perceived and shows how attitudes toward risk have developed over the past few decades. Then he looks at how various segments of the financial markets operate vis-Ã -vis risk. Ultimately, Ben-Ami concludes that attempts to curb financial risk will ultimately slow economic growth and development. Whether you agree with this book's premise or not, it makes an interesting and provocative read.