CAPITALISM'S ACHILLES HEEL Dirty Money and How to

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430 INDEX Failed states, 203 Faking transactions, 38–41, 171–172 False documents, submission of, 198–201 Farah, Douglas, Blood From Stones: The Secret Financial Network of Terror, 127 Fear and change, 368–369 Federal Bureau of Investigation (FBI) and terrorist financing, 184 Federal Reserve Bank of New York, 126, 128 Federal Reserve Board, 175, 193, 209 Federal Reserve System, 132 Felony offenses, 31, 198–199, 349 Fimaco, 157–158 Financial Action Task Force (FATF), 175–177, 253 Financial reports, signing of, 350 Fitzgerald, Peter, 105, 110–111 Flee clauses, 37 Fleming, Bob, 2 Foley, Caroline, 320 Ford, Henry, 264 Foreign aid, 246–249, 260–261, 352 Foreign Corrupt Practices Act, 53, 59–60, 115 Foreign direct investment, 145, 245–246, 352 Foundations: in Indonesia, 69, 70, 71 offshore, 37–38 in Pakistan, 85, 86 4-1-9 schemes, 64–65 A Fragment on Government (Bentham), 301 France, 21, 52, 62, 66, 68, 104, 128, 140, 152, 168, 169, 263, 290, 301, 307 Freeland, Chrystia, Sale of the Century: Russia’s Wild Ride from Communism to Capitalism, 155 Free-market system: beyond U.S. borders, 13–14 giving others stake in, 369 legality of, 8 loophole in, 190–191 philosophy underpinning, 280–281 problems with, 12 reform of, 9 within United States, 12–13 Free shares, 73–74, 75–76 Free trade zones, 136 Friedman, Milton, 327 Friedman, Thomas, 264, 337 Fujimori, Alberto, 97, 98, 99 Gabon, 52 Gall, Norman, 15 Gazprom, 156–157 GDP, see Gross domestic product (GDP) Gell-Mann, Murray, 337–338 Genetic diseases, 265–266 Germany, 62, 104, 128, 152, 168, 169, 191, 231, 263 Gibraltar, 36, 66 Gini coefficient, 222, 223–224 Global financial system, cleaning up, 351–353 Globalization and poverty, 232–233, 239, 264 Global Wealth report (Boston Consulting Group), 164, 165 Gold in Pakistan, 79–80 Gorbachev, Mikhail, 153 Grassley, Charles, 177, 178, 179 Gray, John, 18 Great Britain, see United Kingdom Grenada, 36
Gross domestic product (GDP): corruption money as percentage of, 168–169 criminal money as percentage of, 166–168 income as per capita shares of, 212 measurement of, 237–239 as measure of progress, 221 as national utility calculation, 321 total, and shares of richest and poorest, 218–220 Growth theory, 268 Guernsey, see Channel Islands Halliburton, 65–67 Haq, Mahbub Ul, 225 Harmattan season, 4 Harrod, Roy, 268 Harvard Business School, 1, 336, 378 Harvard University, 77, 321 Hawala system, 45–46 He Qinglian, China’s Pitfall, 150–151 Himmat, Ali Ghaleb, 125, 126 Himmelfarb, Gertrude, 306 HIV/AIDS crisis, 51, 265 Hong Kong, 36, 39, 62, 73, 111, 116, 145, 146–147, 148–150, 169 Houphouët-Boigny, Felix, 52 Huber, Ahmed, 125, 126 Humanity, sense of, and change, 369–371 Human trafficking, 100, 103–104, 116, 166 Hume, David, 285, 302 Hungary, 36 Hussein, Saddam, 125, 127–133 Hutcheson, Francis, 283 Hyde, Henry, 92 Hyperinflation, 248 Index 431 IBM, 27–28 Illegal migration, 100, 103–104 IMF, see International Monetary Fund (IMF) Imports, 235–236, 348. See also Exports Income disparities, global, 210–217, 218, 219–220, 262–263, 271–272 India, 29, 45, 77, 79, 110, 114, 134, 168, 169, 230, 265 Indonesia, 38, 65, 68–76, 110, 116, 168, 204, 231, 233 Inequality: capitalism and, 209, 351–353 conflicting views of, 228–230, 234–235 globalization and, 232–233, 239 lawlessness and, 15–16 monetary measures of, 222–224 nonmonetary measures of, 224–226 as unsustainable, 262–267 Infectious Greed (Partnoy), 13 An Inquiry into the Nature and Causes of the Wealth of Nations (Smith), 283, 286–290, 297 Intellectual gap, 258–261 International business corporations (IBCs), 35–37 International crime, 100–105 International Monetary Fund (IMF): dirty money and, 252–253 HIPC Initiative, 255–256 on purchasing power parity (PPP), 216 Russia and, 157, 158, 160 Interpol, 21, 99, 166, 167 An Introduction to the Principles of Morals and Legislation (Bentham), 302, 303–304 Investment funds, offshore, 193
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CAPITALISM’S ACHILLES HEEL Dirty
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concerted actions to reduce opportu
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Copyright © 2005 by Raymond W. Bak
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CONTENTS Prologue 1 CHAPTER 1 Globa
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CHAPTER 10 Philosophy Becomes Cultu
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“ CHAPTER 1 GLOBAL CAPITALISM: SA
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Global Capitalism: Savior or Predat
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CHAPTER 3 DIRTY MONEY AT WORK HOW D
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“ CHAPTER 4 MAGNITUDES AND MISUND
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CHAPTER 5 THE GLOBAL DIVIDE WRITING
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CHAPTER 6 “I DON’T UNDERSTAND
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CHAPTER 7 IT’S THE 70 TO 90 PERCE
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“ PART III DISUTILITY: BENTHAM KO
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Disutility: Bentham KOs Smith 281 t
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study and lecture, taking up in 175
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The Anguish of Adam Smith 285 of gr
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The Anguish of Adam Smith 287 Preva
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The Anguish of Adam Smith 289 Preva
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The Anguish of Adam Smith 291 Smith
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ing the joys of wealth to all. In t
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The Anguish of Adam Smith 295 paid
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seated concern for exemplary behavi
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The Anguish of Adam Smith 299 want
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ut, with growing passion for legal
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The Joys of Jeremy Bentham 303 fice
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view in 1824 as an outlet for their
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Bentham’s ideas were not all outl
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PROBLEMS The Joys of Jeremy Bentham
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The Joys of Jeremy Bentham 311 Jere
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ate homogeneity, and the lowest inc
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Philosophy Becomes Culture 315 intr
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Philosophy Becomes Culture 317 Desi
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Thus, from the late 1700s to the ea
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Philosophy Becomes Culture 321 War
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The point is much simpler. In the v
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dard model attempt to incorporate t
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tarianism, operating through tenets
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Philosophy Becomes Culture 329 enou
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Philosophy Becomes Culture 331 •
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CHAPTER 12 SPREADING PROSPERITY RES
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CHAPTER 13 RENEWING CAPITALISM SHOR
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ACKNOWLEDGMENTS JENNIFER NORDIN has
Page 391 and 392: Acknowledgments 379 helpful. E. J.
Page 393: Acknowledgments 381 I’m addressin
Page 396 and 397: 384 NOTES 10. Harry Shutt, The Trou
Page 398 and 399: 386 NOTES countries, can be exchang
Page 400 and 401: 388 NOTES 14. U.S. Senate, Committe
Page 402 and 403: 390 NOTES 51. Sultan Ahmed, “Reco
Page 404 and 405: 392 NOTES 82. Gregg Zoroya, “Mili
Page 406 and 407: 394 NOTES Transnational Crime and C
Page 408 and 409: 396 NOTES 131. 2002 Human Rights Re
Page 410 and 411: 398 NOTES 148. Susan Sachs, “Huss
Page 412 and 413: 400 NOTES 181. Ibid., 48. 182. UN S
Page 414 and 415: 402 NOTES 212. Decree of the Presid
Page 416 and 417: 404 NOTES combination of mispricing
Page 418 and 419: 406 NOTES bulk cash shipments. Some
Page 420 and 421: 408 NOTES 43. Two “name and shame
Page 422 and 423: 410 NOTES of arbitrary assessments
Page 424 and 425: 412 NOTES plan. An even more refine
Page 426 and 427: 414 NOTES 35. Bhalla, Imagine There
Page 428 and 429: 416 NOTES The Bank for Internationa
Page 430 and 431: 418 NOTES CHAPTER 8 The Anguish of
Page 432 and 433: 420 NOTES 3. Jeremy Bentham, Consti
Page 434 and 435: 422 NOTES 25. Ibid., 31. 26. A.C. P
Page 437 and 438: Abacha, Mariam, 62 Abacha, Mohammed
Page 439 and 440: Canada, 84, 128, 141, 143, 148, 149
Page 441: component of dirty money; Criminal
Page 445 and 446: Maldives, the, 36 Malik, Rehman, 83
Page 447 and 448: Razzak Yaqub, Abdul, 79, 80 Real es
Page 449 and 450: Tesler, Jeffrey, 66 Thailand, 90, 1
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