Financial capitalism serves only a narrow elite, instead of boosting wealth and social security for all – the third book on this basic thesis has now been published. “MWMF” – as their fans refer to them – thereby hit a nerve simply but effectively.
manager magazin (07.16)
The third book “Capital Errors – How our prosperity is being destroyed and why we need new economic ideas” by Matthias Weik and Marc Friedrich was published in May 2016. The book reached the Spiegel bestseller list within just a few days.
The 2008 financial crisis brought the global economy to its knees, but its causes have neither been understood nor remedied to date. Marc Friedrich and Matthias Weik show why capitalism repeatedly fails to distribute our enormous wealth fairly and sustainably. They investigate why capitalism periodically loses its innovative capability and its capacity to raise prosperity, quality of life and social security. Why at times only the interests of corporations, the superrich and the financial elite count – an elite that has sealed itself off almost completely from the real economy.
Contrary to what their defenders maintain, unregulated financial markets do not ensure that capital reaches the best places to deliver general prosperity. A situation where 0.1 percent of the world’s population decides how 80 percent of global assets are to be invested has nothing to do with free markets and competition. On the contrary – to put it simply, financial capitalism is bad capitalism, because it distributes prosperity in a completely inefficient manner. Friedrich & Weik explain in a generally comprehensible way how reasonable capitalism can function in reality.
An exciting, up-to-date, and well-argued and substantiated book that takes us further forward.
Professor Max Otte
9 Months – Top ranking: Position 3 (edition 7, 8, 9/2016).
14 Weeks – Top ranking: Position 13 (edition 22/2016).
Hardcover: 352 pages
Print run: 1st print run (13 May 2016)
€19.99 including VAT
Paperback: 363 pages
Publisher: Bastei Lübbe (Bastei Lübbe Taschenbuch)
Print run: 1st print run (28 June 2017)
€11.00 including VAT