Capital Wars: The New East-West Challenge for Entrepreneurial Leadership and Economic Success

Cover......Page 1
Contents......Page 8
Introduction......Page 12
Part One: From the capitalism of creators to the capitalism of apparatchiks: the rise and fall of the West......Page 20
1. Illusions, the drivers of our decline......Page 22
2. The opposing forces......Page 25
3. ‘You have the growth, we’ll have the debt!’......Page 26
4. Banks and States: both arsonists and fire-fighters......Page 28
5. A rope to hang ourselves or to pull ourselves out of the rut?......Page 32
1. The implosion of Western social models......Page 38
2. Powerless governments: too fast for the economy, too slow for the markets......Page 42
3. European deconstruction......Page 44
4. The crumbling city on the hill......Page 48
1. The end of the empire-builder, the root of the West’s demise......Page 52
2. Can we still make elephants dance?......Page 59
3. The rise of the nomadic investor......Page 62
4. From financial myopia to the erosion of our competitiveness......Page 66
5. Divergent interests as a system......Page 71
6. Corporate governance: when the tree hides the forest......Page 74
7. Litigation culture and risk-aversion......Page 78
8. Requiem for an entrepreneur......Page 79
9. The end of the partnership and the triumph of the Banker-King: ‘Heads I win, tails you lose’......Page 83
Part Two: Their conquests, our recipes: how emerging powers made our entrepreneurial capitalism their own......Page 94
1. Two winning models, one horizon......Page 96
2. The secrets of Statentrepreneurial capitalism......Page 101
3. The comeback of family capitalism......Page 113
4. The domestic victory: the creation of the new middle class......Page 128
1. The Entrepreneur-State-Market triangle: a Western invention......Page 136
2. The architects of yesterday and tomorrow......Page 141
1. The weapons of financial dissuasion......Page 148
2. The assault on international organisations......Page 150
3. The dangerous temptation of protectionism......Page 158
4. Currency wars......Page 162
5. How to buy a continent: the example of Africa......Page 165
6. Intellectual property: the last bastion of the West......Page 170
7. Environmental protection: might makes right......Page 173
Part Three: Rebuilding upon the ruins of Western capitalism......Page 178
1. Emerging countries are winning the economic war, but can they reign?......Page 180
2. The economic Maginot Line fantasy: one man’s wealth is not another man’s poverty......Page 190
1. Reconciling our listed companies with the long term......Page 194
2. CEOs must think like business owners: ‘put your money where your mouth is!’......Page 198
3. Appraise and compensate business leaders over time......Page 201
4. Re-energise corporate boards and redefine the ‘standards of good governance’......Page 204
5. Rebuild bridges with shareholders and increase their loyalty......Page 206
1. Retool but don’t punish finance......Page 208
2. Putting the client and the economy back at the heart of banking......Page 214
3. Making non-bank finance accountable too......Page 222
4. To stabilise the financial system, encourage competition, and bring back the partnership mindset......Page 224
1. No entrepreneur, no capitalism......Page 230
2. Fiscal and administrative moratoria for young entrepreneurs......Page 232
3. Facilitate the transmission of family-held businesses......Page 235
4. Make entrepreneurship commonplace from student age onwards......Page 236
5. Rebuild bridges between large corporations and SMEs......Page 238
6. Incentivise banks to lend to SMEs......Page 242
7. Boost venture capital......Page 244
Conclusion: Reinvent the magic triangle......Page 248
Acknowledgements......Page 250
C......Page 252
F......Page 253
J......Page 254
R......Page 255
W......Page 256
Z......Page 257