i'm sending you a note because i'm just about to launch my new book—"the end of the free market: who wins the war between states and corporations?". it's a provocative title, but it's not meant as hyperbole.
i think we're facing a game-changing moment in the way we look at the world. for the last 40 years, globalization--private-sector multinational corporations with access to increasingly global capital markets, consumer markets, and labor markets--has driven the global economy. we’ve now reached a tipping point, one hastened by the financial crisis and global recession, with state capitalism behind many of the world's fastest growing economies. the rise of state capitalism--an economic system where the state acts as primary economic actor and arbiter, and uses markets for political purposes--is fundamentally incompatible with a free market system.
this is critically true of china, the world's second largest and fastest growing economy. essentially, what happened to international oil corporations with the rise of opec is now happening in china, to western multinationals in sectors across the board.
in the book, i lay out this argument, explain how we got here, detail the challenge to the free market economy and why it's likely to get worse before it can get better...and then describe how we should respond to the challenge. more than anything i've written, i think there's an opportunity here to have a meaningful impact on the global debate.
thanks very much for reading and for anything you can do to help! most of all, i really hope you like the book.
yours truly,
ian
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