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

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.)