Basil Al-Nakeeb (b. 1949) is an independent scholar. He has helped establish four investment banks and a consumer credit company. His professional career, spanning four decades and three continents, has mostly focused on stocks. His last stock recommendation sent the stock limit up four days in a row. He extended Leontief’s input-output matrix (for which Professor W. Leontief received the Nobel Prize a year earlier) to optimize national investment plans. He guided his research team to decompose the secret currency basket of the Kuwaiti Dinar, earning huge interest spreads. He has written articles and given talks on economics and finance. He holds an MSc. in Financial Economics (from the University College of North Wales) and is a Chartered Financial Analyst (CFA). Al-Nakeeb lives in Dubai with his wife and son.
 
Two Centuries of Parasitic Economics is a call for updating a long-stagnant macroeconomic theory and modernizing the obsolete finance and tax regimes. It analyzes political and economic trends under the rule of the ultra-wealthy (the plutocracy) during the last two centuries, its impact on economic theory, its adoption of parasitic economics, and its contribution to past and current economic policy failures. It offers a different explanation of the causes behind worsening inequality from that proposed by Professor Piketty. It utilizes a novel approach, externalities, to diagnose the structural causes of reoccurring macroeconomic failures, offering fundamental solutions, using a comprehensive package of innovative financing instruments and rationale taxes. It provides an in depth explanation of a so far elusive question: the economic utility of morality in formulating efficient economic policies. It argues that looking after the poor is not just morally correct but also in the best economic interest of the rich, as demonstrated by Otto von Bismarck’s economic policies in the closing decades of the 19th century and Western policies in the aftermath of World War II.