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Book Review

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Jerry Z Muller, a leading historian of capitalism, provides in his provocative new book a fresh look at a subject that, to say the least, has been both thoroughly misunderstood and a forbidden, even taboo, topic Muller's provocative new book provides a fresh look at a subject that has been both thoroughly misunderstood and a forbidden, even taboo, topic.

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Following the string of economic crises across the globe, financial elites are planning to meet in Washington this weekend to address how to resolve the problems of global capitalism. Notably missing from the proceedings is any representative from the developing world.

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The International Monetary Fund, the darling lending institution of neoliberal capitalists, believes that the US's current mortgage crisis is dragging down the world economy The IMF is predicting at least a two-year global economic downturn, led by the U credit crunch, that also has a gambling chance of turning into a "global recession".

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President Bush said the N.Y. Times' disclosures about the administration's bank data-mining program did "great harm to the United States of America." The Times' editor, Bill Keller, said "nobody should think that we made this decision casually, with any animus toward the current administration, or without fully weighing the issues."

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Under a post 9/11 Bush administration program, CIA agents officials have gained access to financial records from a vast international database called SWIFT, examining banking transactions involving thousands of Americans without specific warrants in each case. (This program is working in parallel with the NSA's warrantless eavesdropping system)

  • The N.Y. Times has the scoop
  • The Washington Post has government officials confirming the story
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