Descripción de editorial
Understanding the rise of state capitalism and its threat to global free markets
The End of the Free Market details the growing phenomenon of state capitalism, a system in which governments drive local economies through ownership of market-dominant companies and large pools of excess capital, using them for political gain. This trend threatens America's competitive edge and the conduct of free markets everywhere.
An expert on the intersection of economics and politics, Ian Bremmer has followed the rise of state-owned firms in China, Russia, the Arab states of the Persian Gulf, Iran, Venezuela, and elsewhere. He demonstrates the growing challenge that state capitalism will pose for the entire global economy.
Among the questions addressed: Are we on the brink of a new kind of Cold War, one that pits competing economic systems in a battle for dominance? Can free market countries compete with state capitalist powerhouses over relations with countries that have elements of both systems-like India, Brazil, and Mexico? Does state capitalism have staying power?
This guide to the next big global economic trend includes useful insights for investors, business leaders, policymakers, and anyone who wants to understand important emerging changes in international politics and the global economy.
The power of the state is back, announces Bremmer (The Fat Tail), president of the Eurasia Group, in this sobering examination of the threat the emerging powers of China, Russia, and Saudi Arabia pose to the free market. The book presents a whirlwind history of capitalism from mercantilism through the end of the cold war to the ascendancy of state capitalism, a political and economic arrangement in which states exert their influence over markets and big business to serve their own interests. Bremmer provides informative case studies of economies with varying degrees of state control: Algeria's authoritarian regime, Mexico's relatively open and democratic system, and China, the leading practitioner of state capitalism, in which Beijing has assumed only more economic power in the wake of the financial crisis. He weighs how free market economies can compete and concludes on a hopeful note, laying out a powerful case for the superiority of regulated free markets above state capitalism and a clear prescription for how the U.S. can defend its competitive advantage in the future.