Going off the Rails Global Capital and the Crisis of Legitimacy

by Plender, John

• ISBN13: 9780470853146
• ISBN10: 047085314X
• Edition: 1st
• Format: Hardcover
• Copyright: 2003-03-14
• Publisher: WILEY

Summary

The capitalist model was developed in the 19th century and recent events have shown the difficulties of adapting this to the demands of the 21st century, in which human and social capital are of far greater importance than physical capital. In Going off the Rails, John Plender shows how corporate scandals, inflated boardroom pay, corporate governance disciplines and outmoded accountancy conventions have stretched the Anglo-American model to its limit and what the effects of this might be on globalisation and the capital markets.

Author Biography

<B>John Plender</B> is a senior editorial writer and columnist at the Financial Times and a regular current affairs broadcaster for the BBC and Channel Four. John has served on the UK government's Company Law Review steering group, and consults on corporate governance for the International Finance Corporation, the private sector lending and investing arm of the World Bank.

Table of Contents

About the author	vii
Preface	ix
Part 1 IMPATIENT CAPITAL	1	(106)
The turn of the global tide	3	(22)
The Third World ghetto	25	(28)
Dr Pangloss comes to Wall Street	53	(28)
Europe pulls up a drawbridge	81	(26)
Part 2 DOUBLE STANDARDS	107	(76)
Uncreative destruction	109	(28)
The just-in-time CEO	137	(24)
Enron, alas	161	(22)
Part 3 THE LIMITS OF CONVERGENCE	183	(34)
Apocalypse later	185	(16)
The semi-detached samurai	201	(16)
Part 4 BEYOND SHAREHOLDER VALUE	217	(58)
The legitimacy crisis	219	(24)
Putting the world to rights	243	(32)
Index	275