“The power of the state is back,” announces Bremmer (The Fat Tail), president of the Eurasia Group, in this sobering examination of the threat the emerging powers of China, Russia, and Saudi Arabia pose to the free market. The book presents a whirlwind history of capitalism from mercantilism through the end of the cold war to the ascendancy of “state capitalism,” a political and economic arrangement in which states exert their influence over markets and big business to serve their own interests. Bremmer provides informative case studies of economies with varying degrees of state control: Algeria's authoritarian regime, Mexico's relatively open and democratic system, and China, the “leading practitioner of state capitalism,” in which Beijing has assumed only more economic power in the wake of the financial crisis. He weighs how free market economies can compete and concludes on a hopeful note, laying out a powerful case for the superiority of regulated free markets above state capitalism and a clear prescription for how the U.S. can defend its competitive advantage in the future. (May)
"Many scholars have begun to analyze state capitalism. One of the clearest and most comprehensive treatments is The End of the Free Market by Ian Bremmer."
-David Brooks, New York Times
"Mr. Bremmer... provides a wide-ranging account of the rise of state capitalism and he litters his prose with apposite examples and acute insights. Nobody with a serious interest in the current dilemma should pass it by."
"Brilliant and indispensible. One of the preeminent political analysts of our time with the must-read book for how politics and global markets are converging at our peril."
-Nouriel Roubini, Chairman of Roubini Global Economics
"From the stories of deadly rioting at a Chinese factory to the Russian prime minister's grocery shopping to the construction site of an entirely new Saudi city, this is a fascinating story with a timely and important message: American- style free-market democracy might not be the wave of the future."
- Fareed Zakaria, editor, Newsweek International; author of The Post- American World
"The End of the Free Market is both fresh and provocative. It illuminates the subtle, yet powerful, geopolitical and economic undercurrents that must be understood by all of us."
- Greg Brown, CEO of Motorola
"Ian Bremmer's understanding of international commerce and politics is peerless. The End of the Free Market holds essential insights for anyone conducting business on the global level."
- Sallie Krawcheck, President, global wealth and investment management, Bank of America
"A powerful analysis of the new emerging world order by an author who is always full of insights."
- George Osborne, MP, shadow chancellor of the Exchequer
"Ian Bremmer's book couldn't have come at a better time. An essential guide to the future of the world economy, The End of the Free Market describes the coming war for the soul of capitalism. It offers useful insights for investors, business leaders, and anyone interested in how to survive this coming global confrontation."
- David Smick, Global policy strategist and author of The World Is Curved: Hidden Dangers to the Global Economy