John Browne is Senior Economic Consultant for Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut. Mr. Browne is a distinguished former member of Britain’s Parliament who served on the Treasury Select Committee, as Chairman of the Conservative Small Business Committee, and as a close associate of then-Prime Minister Margaret Thatcher. A graduate of the Royal Military Academy Sandhurst and the Harvard Business School. In addition to careers in British politics and the military, he has worked with such firms as Morgan Stanley, Barclays Bank and Citigroup. He is a frequent guest on CNBC’s Kudlow & Co. and a former contributing editor and columnist of NewsMax Media’s Financial Intelligence Report and Moneynews.com.
The French economist Thomas Piketty has achieved worldwide fame by promoting a thesis that capitalism is the cause of growing economic inequality. Unfortunately, he is partially right. However, the important distinction missed by Piketty and all of his supporters is that state capitalism, not free market capitalism, has reigned supreme in recent decades in the world’s...
By John Browne