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Rogue Economics: Capitalism's New Realityby Loretta Napoleoni
Synopses & Reviews
Economist and syndicated journalist Loretta Napoleoni argues that the world is undergoing rapid and unexpected great transformations fueled by what she calls rogue economics. Eagerly awaited around the world (translation rights have already been sold throughout Europe, Latin America, and Southeast Asia), Napoleoni's account is based on top-to-bottom primary-source interviews from banking executives in New York to Russian prostitutes to London morgue workers, and grounded in the author's personal experience in international finance.
From Eastern Europe's booming sex trade industry to China's "online sweatshops," from al-Qaeda's underwriters to America's subprime mortgage lending scandal, Rogue Economics exposes the paradoxical economic connections of the new global marketplace.
"After looking into how terrorism gets paid for (Terror Incorporated: Tracing the Money Behind Global Terrorism), Napoleoni tackles the whole of capitalism's dark side: the economics of illegal, criminal and terrorist activities worldwide. There's no shortage of material, including the sex trade of Eastern Europe, internet fraud, piracy (both nautical and intellectual), human slavery, drugs and even the subprime mortgage lending scandal. Unsettling, eye-opening statistics abound-one third of all fish eaten in the UK is illegally poached; today, 27 million slaves worldwide generate annual profits of $31 billion; up until 9/11, 80 percent of the $1.5 trillion underworld economy was laundered through the US (the Patriot Act moved much of this business to Europe)-and Napoleoni's bold analysis begs controversy. From page one, she ties the illegal business boom directly to the spread of democracy, pointing to the fall of the Berlin Wall as the moment when 'rogue economics' were unleashed in their current, globe-enveloping iteration. Timely and fascinating, Napoleoni's top-notch reporting, in which her attention turns from Viagra to blood diamonds to the banana price wars in a few pages, works in the vein of Freakonomics and Eric Schlosser's Fast Food Nation, but much grimmer. Like those, this volume doesn't provide many answers, but the questions it raises are profound." Publishers Weekly (Starred Review) (Copyright Reed Business Information, Inc.)
"When you're ready to take a big leap beyond Freakonomics, strap yourself in for Rogue-o-nomics, Loretta Napoleoni's devilishly enjoyable journey into the money veins of the new global order — from sex slavery to fad-diet slavery....It is truly, an incredibly original work." Greg Palast, author of The Best Democracy Money Can Buy
"Rogue Economics offers a fascinating view of how terribly wrong things have gone. Loretta Napoleoni's book is an alarm, warning us to wake up immediately and head down a new path." John Perkins, author of Confessions of an Economic Hit Man
Book News Annotation:
"Rogue economics" as economist Napoleoni formulates it here, is what happens in times of rapid large-scale political and social transformation when politics can lose control of economics, which then gets captured by dark forces. The first example she cites is the collapse of communism, the spread of democracy and globalization, and the intricately linked spread of slavery around the world such that it has now become an integral part of global capitalism. Other topics she addresses as she tours the world of rogue economics include Europe's sex trade industry, terrorism financing (which she also explored earlier in Terror Inc., and the US subprime mortgage meltdown. Annotation ©2008 Book News, Inc., Portland, OR (booknews.com)
Why counterfeiters, sex traders, gamers, racketeers, and pirates are shaping the world.
Economist and syndicated journalist Loretta Napoleoni argues that the world is undergoing rapid and unexpected great transformations fueled by what she calls rogue economics. Eagerly awaited around the world (translation rights have already been sold throughout Europe, Latin America, and Southeast Asia), Napoleoni’s account is based on top-to-bottom primary-source interviews from banking executives in New York to Russian prostitutes to London morgue workers, and grounded in the author’s personal experience in international finance. From Eastern Europe’s booming sex trade industry to China’s “online sweatshops,” from al-Qaeda’s underwriters to America’s subprime mortgage lending scandal, Rogue Economics exposes the paradoxical economic connections of the new global marketplace.
Loretta Napoleoni is the author of the best-selling book Terror Inc.: Tracing the Money Behind Global Terrorism, which has been translated into twelve languages. One of the world’s leading experts on money laundering and terror financing, she has worked as London correspondent and columnist for Corriere della Sera, La Repubblica, El Pais, and Le Monde. A former Fulbright scholar, she holds a PhD in economics, an MA in international relations and economics from Johns Hopkins University, and an MPhil in terrorism from the London School of Economics. For her work as a consultant for the commodities markets, she traveled regularly to Pakistan, Turkey, Iran, Iraq, Syria, and other Middle Eastern countries, where she has met top financial and political leaders. She lives in London.
What do Eastern Europe's booming sex trade, America's subprime mortgage lending scandal, Chinas fake goods industry, and celebrity philanthropy in Africa have in common? With biopirates trolling the blood industry, fish-farming bandits ravaging the high seas, pornography developing virtually in Second Life, and games like World of Warcraft spawning online sweatshops, how are rogue industries transmuting into global empires? And will the entire system be transformed by the advent of sharia economics? With the precision of an economist and the narrative deftness of a storyteller, syndicated journalist Loretta Napoleoni examines how the world is being reshaped by dark economic forces, creating victims out of millions of ordinary people whose lives have become trapped inside a fantasy world of consumerism. Napoleoni reveals the architecture of our world, and in doing so provides fresh insight into many of the most insoluble problems of our era.
About the Author
Loretta Napoleoni, a former Fulbright scholar at Johns Hopkins University and Rotary scholar at the London School of Economics, is an expert on international terrorism who has worked as an economist and foreign correspondent for Italy's financial papers.
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