cover image The Midas Touch: Why the Rich Nations Get Richer and the Poor Stay Poor

The Midas Touch: Why the Rich Nations Get Richer and the Poor Stay Poor

Anthony Sampson. Dutton Books, $19.95 (0pp) ISBN 978-0-525-24891-0

The nearly instanteous electronic exchange of huge sums of money between global markets yields immediate profits without regard to production or concern for long-term needs of national economies--stable currencies, interest rates and credit. With the clarity and focus on human interest that distinguished his oil business study, The Seven Sisters , London financial reporter Sampson demonstrates that the flow of these monetary tides widens the gap between wealthy and debt-ridden nations, and wreaks havoc on the environment. He predicts, however, that increasing social problems will require that a larger proportion of investments be made for the public good. (Aug.)