Dirty Secrets: How Tax Havens Destroy the Economy

Dirty Secrets: How Tax Havens Destroy the Economy

by Richard Murphy


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What happens when the rich are allowed to hide their money in tax havens, and what we should do about it

The Panama Papers were a reminder of how the superrich are allowed to hide their wealth from the rest of us. Dirty Secrets uncovers the extent of the corruption behind this crisis and shows what needs to be done in the face of this unregulated spread of rampant greed.

Tax havens, we are often told, are part of the global architecture of capitalism, providing a freedom from regulation necessary to make markets work. In this book, leading authority Richard Murphy uncovers the truth behind this lie. The fact of the matter is that this increasingly popular practice threatens the foundations of democracy, sowing mistrust and creating a regime based upon opacity.

As Murphy shows, how we manage our economy is a political decision, and one that can be changed. Dirty Secrets proposes ways to regulate tax havens and what the world might look like without them.

Product Details

ISBN-13: 9781786631671
Publisher: Verso Books
Publication date: 03/21/2017
Pages: 224
Product dimensions: 5.50(w) x 8.20(h) x 0.80(d)

About the Author

Richard Murphy is a UK chartered accountant and has been described as the architect of “Corbynomics.” In 2015, he became Professor of Practice in International Political Economy at City University, London. He is author of The Joy of Tax and The Courageous State, and co-author of Tax Havens.

Table of Contents

Introduction 1

1 The Story of Tax Havens 7

2 The Problems of Secrecy 29

3 What Is a Tax Haven? 51

4 The Tax Haven World 79

5 The Cost of Tax Havens 105

6 Tackling Tax Havens 123

7 The Post-Tax Haven World 161

Acknowledgements 181

Appendix 1 Financial Secrecy Index 183

Appendix 2 Tax Justice Network Assessment Criteria 191

Appendix 3 Secrecy Index Ratings 193

Notes 199

Index 209

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