download Audiobooks Dirty Secrets: How Tax Havens Destroy the Economy –

What happens when the rich are allowed to hide their money in tax havens, and what we should do about it The revelations from the Panama Papers show unknown levels of secret money how the superrich hide their wealth from the rest of us Dirty Secrets uncovers the extent of the corruption behind this crisis and exposes the failures of those in power to control this rampant greed Tax havens are part of the global architecture of capitalism It is claimed that they provided the freedom from regulation that was necessary to really make markets work and so we all actually gained from them In this sense they are the ultimate expression of neoliberalism But this argument and that philosophy has now failed Further democracy itself is being threatened by the political fall out from the mistrust this regime has created The result is that tax havens are now a threat to the very system that supposedly spawned it Dirty Secrets is the most revelatory examination of the crisis by a leading expert, but also offers solutions on how governments can regulate havens and what the world might look like without them

4 thoughts on “Dirty Secrets: How Tax Havens Destroy the Economy

  1. Ms J Hamilton Ms J Hamilton says:

    Interesting subject, but handled poorly The book was good at highlighting the issue helping to explain some of the attributes and bad behaviour definition of the havens attempt to quantify the scale of the problem and highlight some of the consequences of it However, I found too much of it a flavour of I said this ages ago, but no one listened but now they are, aren t I clever which I could have done without The recommendations to abolish tax havens include some which seem very sensible and which I think are being introduced although as he has shown himself, not being implemented fully and with continued loopholes Others seem to be huge leaps of wishlists which are even impractical than some of the previous attempts does he really think every bank in the world will disclose who owns every bank account who are the ultimate owners if company trust and the amount of money that goes in and out of it in a year A bit rambling and repetitive in places but as a call to arms to get the issue further up the agenda, very effective

  2. Mark Brown Mark Brown says:

    Richard Murphy has evolved over the years to become one of Britain s foremost centre left thinkers on economics He is running against the grain of conventional neo liberalism by simply asking us to see the world differently His arguments are passionate, intriguing but sometimes unconvincing A book about Tax Havens was never likely to be either exciting or change the world but when you see the problem through Murphy s eyes you know that he is gripping onto some grains of truth We should all be listening His message is simple tax havens are bad, they undermine economic growth, they increase inequality, rob the government of revenue, erode essential public services and they work to destroy democracy Sadly the views to the opposite have all the political support as well as the support of the accountancy, legal and banking professions Citizens become disenfranchised and come to believe the system is rigged against the little guy We have lost faith in capitalism It leads to the rise of far right populism and its non solutions Murphy argues that ending the problem of tax havens has the benefit of saving capitalism itself Companies must end the secrecy and become accountable to the communities that host them Better transparency would increase the quality of market decision making as well as returning democracy to the electorate Money stashed away could be better used for productive purposes and GDP would rise Free markets should be allocating capital efficiently not treating the global economy as a roulette wheel Tax havens are not good for the economy, not good for capitalism, not good for democracy and not good for people Tax is not theft, it is the rent we pay for living in a civilised country with roads, hospitals, schools, defence and security A sustainable economy is one that has done without tax havens for good.

  3. James Patterson James Patterson says:

    As important a book as Treasure Islands and The Great Tax Robbery and essential reading for anyone interested in why the economy and society in general have been tanking since the 1970s Stephen Cecchetti, formerly head of the Monetary and Economic Department at the BIS, once said the following about conventional economic modelling Let s say that we are trying to measure tide height at the beach We know that the sea is filled with fish, and so we exhaustively model fish behaviour, developing complex models of their movements and interactions.The model is great And the model is useless The behaviour of the fish is irrelevant for the question we are interested in how high will the seawater go up the beach.By building microeconomic foundations we are focusing on the fish when we should be studying the moon.Studying the moon means looking at money, not least the shadow banking system This book is a major contribution to that vital effort.

  4. Andrew Carey Andrew Carey says:

    Not much discussion of how inheritance taxes destroy the economy If the larger economies set IHT at the correct level then this would promote investment, reduce the cost of financial services, and knock out one of the major reasons for the tax havens the author pretends to despise Disappointed.