Raymond W Baker, Capitalism's Achilles Heel

Raymond W Baker,

Capitalism’s Achilles Heel

Bakers chapter, Capitalism’s Achilles Heel underlines three main concepts illegality, distorted philosophy and inequality, these concepts go on to ask two major questions in the continuum of capitalism, “why are we where we are?” and “how do we get to where we want to go?”.

Before discussing the main content of the article it is important to understand who Raymond W. Baker, the author is, in order to understand the material better. Baker has an extensive educational background getting his MBA at Harvard Business School and prior to that attended Georgia Institute of Technology. Baker has travelled extensively to gather research for a project “Fight Capital, Poverty and Free Market Economics” and is the author of many other books highlighting the loopholes in the “free market” system. Baker begins his chapter maintaining that the thoughts represented are his own, and he invites people’s feedback and commentary to keep the article as honest as possible.

The chapter makes reference to the continuum of capitalism and how illegality, inequality and philosophy are presented along the chain because they are related to consequences which are connected to rationalizations which in turn are related back to actions. Based on this continuum, Baker believes that the three concepts of illegality, inequality and philosophy are ominous to the progress of capitalism that is expected of the 21st century. It is highly evident that corruption is rampant and the gap between the rich and poor is not subsiding.

The capitalist system has allowed gate ways for “lawlessness in international trade” where illegal money is exported and imported into countries at a seemingly rapid pace, thus creating a massive divide between the wealthy countries and the developing “3rd world” countries.

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