Pizhuhish nāmah-i intiqādī-i mutūn va barnāmah hā-yi ̒ulūm-i insāni (Critical Studies in Texts & Programs of Human Sciences)

A Critique on the Book Capitalism's Achilles Heel: Dirty Money and How to Renew the Free-Market System

Document Type : Research

Author

Mohammad Javad Nourahmadi

Assistant Professor, Department of Theoretical Economics, Faculty of Economics, Allameh Tabataba’i University

https://doi.org/10.30465/crtls.2020.30512.1818
Abstract
This book explains the impact of dirty money on the functioning of the global capitalist system. Raymond Baker introduces a three-loop interconnected chain of interactions, including lawlessness, inequality, and the philosophy of utilitarianism, as the Achilles' heel of capitalism which has provided the ground for the vulnerability of this system, especially in the twentieth century. Baker considers the restructuring of the free market system and the continuation of the optimal functioning of this system in the 21st century to be subject to serious reforms in the philosophy of capitalism, namely utilitarianism, with an emphasis on the theory of justice of John Rawls and Thomas Pogg. He believes that effective measures to reduce inequality in wealth within and between countries should be taken to reduce dirty money and debt forgiveness of developing countries. Baker also recommends institutional changes in the structure of the World Bank and the financial system of developed countries to reduce the creation and flow of dirty money from developing and transition countries. In this article, while evaluating the form and content of Baker's book, his innovations in the critique of the global capitalist system are presented from within and compared with other critiques of capitalism, and suggestions for updating the book are presented.

Keywords

Capitalism
Free Market System
Illegality
Dirty Money
Inequality
Utilitarianism
Justice

Subjects

آسترم، الینور (1394)،‌ فهم تنوع نهادی، ‌ترجمۀ سیدجمال‌الدین محسنی زنوزی، تهران: دانشگاه امام صادق (ع).
بیکر، ریموند (1396)،‌ پاشنۀ ‌آشیل سرمایه‌داری: پول کثیف و چگونگی احیای نظام بازار آزاد،‌ ترجمۀ سجاد امیری،‌ تهران: دنیای اقتصاد.
عجم اوغلو، دارون و جیمز ای. رابینسون (1393)،‌ چرا کشورها شکست ‌می‌خورند،‌ ترجمۀ پویا جبل‌عاملی و محمدرضا فرهادی‌پور،‌ تهران: دنیای اقتصاد.
نوراحمدی، محمد‌جواد (1392)، مالکیت،‌ عدالت و رشد در تحول اندیشه‌های اقتصادی، تهران: دانشگاه امام صادق (ع).
 
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Baker, Raymond (2000), “Illegal Flight Capital Dangers for Global Stability”, International Politic, no. 6.
Baker, Raymond and Jennifer Nordin (2004), “How Dirty Money Binds the Poor”, Financial Times.
Baker, Raymond (2005), Capitalism's Achilles Heel: Dirty Money and How to Renew the Free-Market System, Hoboken: John Wiley & Sons.
Barro, Robert J. (2013), Democracy, Law and Order, and Economic Growth, Heritage Foundation.
Cambridge English Dictionary (2019), Available at: <https://www.dictionary.cambridge.org>.
Dunfee, Thomas W. and Colleen Baker (2007), “The Impact of Dirty Money on Global Capitalism”, Business Ethics Quarterly, vol. 17, no. 4.
Global Financial Integrity: <https://www.gfintegrity.org/staff-member/raymond-baker>.
Hossein Nezhad, Zahra and Katayoun Kavehnezhad (2013), “Choosing the Right Color: A Way to Increase Sales”, International Journal of Asian Social Science, vol. 3, no. 6.
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  • Receive Date 25 January 2021
  • Revise Date 19 April 2021
  • Accept Date 22 May 2021

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