Saving Capitalism from the Capitalists

Recently I have discovered a very interesting book, thanks to the webpage of Konstantin Sonin, professor at the New Economic School. It's "Saving Capitalism from the Capitalists" written by Raghuram Rajan and Luigi Zingales, both professors at the Booth School of Business. I've read only about a quarter of the whole book so far, but it was enough to realize that it's brilliant. Though the book was published in 2003, and the world has changed a bit since than (for example, a conception of reselling insurance obligations is described to have no major flaws, which definitely seemed so in 2003, but today doesn't look like an entirely good and harmless idea), but the most parts of the book are very interesting, well written and applicable to all times.

The main idea of book that capitalism and capitalists are not equal. While some sorts of corporations and capitalists can definitely be viewed as pure evil, modern world can't exist without products and services they produce. And even more - with certain control over the system, even financiers can serve the society and provide necessary services. The main problem is to create open financial markets and efficient regulatory institutions. Then harmful effects of capitalists' actions will be reduced almost to zero level.

Of course, it's a very simplified way to express the main idea of the book, which has almost 500 pages. But I don't think that it'll be a good idea to try to retell it's contents there. Better get the book and read it. It's definitely worth it, believe me.