Jul 26, 2005
Raymond W. Baker's latest book, "Capitalism's Achilles Heel: Dirty Money and How to Renew the Free-Market System'" (John Wiley & Sons, 448 pages, $27.95), argues that disrupting the flow of ill- gotten loot is more important for Africa than canceling debt, boosting aid and stepping up trade, however worthy those goals are. Western countries sink roughly $50 billion in foreign aid into poorer countries each year, he says, then take back 10 times that amount - $500 billion a year - by laundering dirty money fleeing those lands.
































