We need finance – but when finance grows too big it becomes a curse. Far from being the geese that lay the golden eggs, Wall Street and the City of London have become cuckoos in the nest.
The City of London is the single biggest drain on our resources; it sucks talent out of every sphere, it siphons off wealth, hoovers up government time, inflates prices and, as we’ve all seen, leads to boom and bust.
Yet to be ‘competitive’, we must deregulate, bust the unions, and turn a blind eye to money-laundering to appease big business. We are told this is about wealth creation; the reality is wealth extraction.
Nicholas Shaxson revealed the dark heart of tax havens long before the Panama and Paradise Papers. Here, he issues a new warning, telling the astonishing story of how finance established a stranglehold on society. How were tax havens born? Why did Swiss banks first become secret? What’s competitive about allowing big companies like Apple and Amazon to avoid paying tax?
An essential guide and an explosive new tool, The Finance Curse shows how we got where we are and how we can dismantle a suffocating system.
- Vintage Digital
- Published 4th October 2018
- 386 Pages
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