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In this urgent dissection of the U.S. financial system, well-known economist and bestselling writer Pat Choate demonstrates the true gravityof our currentcrisisand forcefully argues for bold action to repair a capitalist systemin desperate need of reform.
A long-time critic of the free-market absolutism that brought about the current financial crisis, Choate puts forward new solutions designed not only help the United States recover as quickly as possible, but also to strengthen the country—and our capitalist system—for decades to come. He identifies necessary reforms to our financial regulations, describes why the U.S. needs to make a comprehensive overhaul of its tax system (from direct tax to a simplified value-added tax), advocates changes to global trade rules and practices that have unfairly affected American workers and communities, and calls for a vigorous reinvestment in the “human capital” of America through portable pensions, more affordable health care, and better education.