The rise of finance and the fall of business

Makers and TakersFurther to my recommendation here of the Times article, Our economic illness has a name: Financialization, I am now finishing the author Rana Foroohar’s new book: Makers and Takers, the rise of finance and the fall of American business and highly recommend it.

An entertaining, easy to read summary of the facts and figures behind the obvious: that the rise of finance and financial engineering as the primary focus has intensified inequality, undermined productivity and led major economies and our finances down a destructive and unsustainable path.

Rana also includes a chapter on some of the most obvious solutions.  Common sense tells us how to effect the turnaround.  We just need to demand an overhaul.  The next financial crisis will provide the catalyst.  But it is wise to understand the issues and changes needed before panic hits.  This book will help readers to get a head start.

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