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Cowardly capitalism

Daniel Ben-Ami pays tribute to Susan Strange, the philosopher of "casino capitalism," but argues that the problem with financial markets is that they are not risky enough

By Daniel Ben-Ami   December 1998

The dominant image of the financial markets is that of a giant casino. Brash young men in red braces, driven by insatiable greed, gamble with huge sums every day. When the bets go wrong the innocent suffer. Reckless financial markets pose an immediate threat to the future prosperity of humanity.

Susan Strange, who died just after the publication of her lastest book, was one of the most compelling academic advocates of the view that the global casino is out of control. Although she is not a household name, she played an important role in developing the intellectual framework to support…

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