[The Finance Curse] Download À Nicholas Shaxson


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  1. says: Characters ì eBook, ePUB or Kindle PDF ¸ Nicholas Shaxson [The Finance Curse] Download À Nicholas Shaxson

    Free download The Finance Curse [The Finance Curse] Download À Nicholas Shaxson Nicholas Shaxson ¸ 8 Summary A bright light goes on while reading The Finance Curse Nicholas Shaxson connects a number of phenomena around the world that collectively oppress billions of people He likens it all to the petroleum curse where developing nations’ citizens end up worse off for the discovery of oil In this case it is big finance running amok Only t

  2. says: [The Finance Curse] Download À Nicholas Shaxson Nicholas Shaxson ¸ 8 Summary Free download The Finance Curse

    [The Finance Curse] Download À Nicholas Shaxson Nicholas Shaxson ¸ 8 Summary Free download The Finance Curse I really wish I could give this book a better rating I dove in prepared to agree with the author and discover the nuance of what an overly robust financial sector does to economies why how and what to do about it Some of that Shaxson did deliver and there were a few chapters I found uite engaging and informative for example the ones where he talks about the “Celtic Tiger” and offshore finance makes sense he author

  3. says: Characters ì eBook, ePUB or Kindle PDF ¸ Nicholas Shaxson [The Finance Curse] Download À Nicholas Shaxson Nicholas Shaxson ¸ 8 Summary

    Free download The Finance Curse [The Finance Curse] Download À Nicholas Shaxson Nicholas Shaxson ¸ 8 Summary “I listened with great interest to what you had to say but I can assure you if you think Her Majesty’s Government is ever going to prosecute people of my class you are utterly mistaken We are a protected species”So said the director of

  4. says: Nicholas Shaxson ¸ 8 Summary [The Finance Curse] Download À Nicholas Shaxson

    [The Finance Curse] Download À Nicholas Shaxson This is the fourth Financial Times 2018 best books that I've read I have found all of them problematic and not especially worth recommending This is the worst of the four I've readIt starts by by suggesting that just as there is a resource curse countries with abundant natural resources often do worse than countries without there is also a finance curse countries with oversized financial sectors do worse than countries with non oversized f

  5. says: Free download The Finance Curse Nicholas Shaxson ¸ 8 Summary [The Finance Curse] Download À Nicholas Shaxson

    Nicholas Shaxson ¸ 8 Summary Characters ì eBook, ePUB or Kindle PDF ¸ Nicholas Shaxson [The Finance Curse] Download À Nicholas Shaxson The Finance Curse is the reason I will not achieve my 2019 GoodReads Reading Challenge of 200 books but it was worth it This is a very detailed review of the myriad ways the finance industry is undermining democracy good government and the economy It is a well known truism that resource dependent economies enrich those in power impoverish the rest and tend toward authoritarianism Russia and its oligarchy are a perfect example o

  6. says: [The Finance Curse] Download À Nicholas Shaxson Nicholas Shaxson ¸ 8 Summary Free download The Finance Curse

    [The Finance Curse] Download À Nicholas Shaxson I have never read a book that made me feel so angry Page after page of outrage grinding my teeth ranting at my poor family and wondering why did I not know about any of this?What's it about?You may look at this book and think it is about economics tax havens private euity firms millionaires billionaires monopolies and multinational

  7. says: Nicholas Shaxson ¸ 8 Summary Characters ì eBook, ePUB or Kindle PDF ¸ Nicholas Shaxson [The Finance Curse] Download À Nicholas Shaxson

    [The Finance Curse] Download À Nicholas Shaxson I have never read a book that made me feel so angry Page after page of outrage grinding my teeth ranting at my poor family and wondering why did I not know about any of this?What's it about?You may look at this book and think it is about econom

  8. says: [The Finance Curse] Download À Nicholas Shaxson

    Characters ì eBook, ePUB or Kindle PDF ¸ Nicholas Shaxson [The Finance Curse] Download À Nicholas Shaxson Nicholas Shaxson ¸ 8 Summary A good roundhouse kick on the triple woes of financialisation deregulation and tax havens and tax evasions in good company with and sometimes liberally repeating Shaxson's own Treasure Islands Oliver Bullough's Moneyland or Rana Foroohars Makers and TakersWhat I learned How big and corrosive tax evasion is That the deregulation o

  9. says: [The Finance Curse] Download À Nicholas Shaxson Nicholas Shaxson ¸ 8 Summary

    [The Finance Curse] Download À Nicholas Shaxson The financial sector is inflicting a staggering cost on people how exactly this happens is what Mr Shaxson's book aims to explains The title is a witty assimilation with the resource curse when resource rich countries stop bargaining with their citizens because all the money comes from one or two corrupt places democracy falls ap

  10. says: Characters ì eBook, ePUB or Kindle PDF ¸ Nicholas Shaxson [The Finance Curse] Download À Nicholas Shaxson Nicholas Shaxson ¸ 8 Summary

    [The Finance Curse] Download À Nicholas Shaxson Reading this just after Tom Holland's Dominion about the role of Christianity in the making of Western values the similarities are startling Left to its own devices the world would be a really horrible place with the mighty running roughshod over the weakNot that it doesn't already happen but there is at least some resist

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Characters ì eBook, ePUB or Kindle PDF ¸ Nicholas Shaxson

The Finance Curse

Characters ì eBook, ePUB or Kindle PDF ¸ Nicholas Shaxson Nicholas Shaxson ¸ 8 Summary Free read Ö The Finance Curse ✓ eBook, ePUB or Kindle PDF Global finance is a system that works for the few and against the manyWe need finance – but when finance grows too big it becomes a curse The City of London is the single biggest drain on our resources; it sucks talent out of every sphere it siphons wealth and hoovers up government time Yet to be ‘competitive’ we’re told we must turn a blind eye to money launderin. I really wish I could give this book a better rating I dove in prepared to agree with the author and discover the nuance of what an overly robust financial sector does to economies why how and what to do about it Some of that Shaxson did deliver and there were a few chapters I found uite engaging and informative for example the ones where he talks about the Celtic Tiger and offshore finance makes sense he authored an entire separate book on the topic of tax havens His breakdown of some key economic ideas of the previous century neoliberal thought etc in the beginning of the book also struck me as uite fair and successfulHowever the further I went into the book the sensationalist finger pointy and comical Shaxson s arguments and rhetoric became He is uick with exclamations of mock horror at companies facing a possible need to file US tax returns inexplicably insists on using words like titan to describe hedge fund managers or junk bond fueled raiders and labels anything even remotely complex in the financial world suirrelly business Perhaps I am just a jaded corporate drone but a lot of his fist shaking leaves me shrugging my shoulders There are many destructive aspects to contemporary global finance oh wow who knew I am trying to learn about them not get an earful of moralistic sensationalizations about pension funds getting swindled and taxes being avoided Even when his general points are reasonable and true the tabloid language makes them next to impossible to absorb Here is an especially egregious example of what so irks meThere s a third reason for all the snaking chains of corporate complexity which brings that other large stakeholder into view the shambling unloved grouchy giant that invests in the roads the courts the education of workers the sewage pipes under homes and office buildings and the other essential things that underpin all of the titans profits Government After it has picked up the human flotsam from the lacerated pension pots and the layoffs be they burned out journalists or the victims of rogue doctors the government is at least supposed to get a payback in the form of tax levied on corporate profitsIf this kind of delivery is you cup of tea you doubtless will enjoy the book much than I did Shaxson does a fair bit of introductory explaining throughout the book which some readers may find very useful but I personally did not He is very clear and brief in these summaries but goes a little too far for example breaking down what bank balances are which seems redundant in a book not targeted at children I wish he spent time unpacking complex concepts mentioned in the book such as different kinds of trusts or some typical ways to structure chains of offshore corporations rather than focused on the simpler foundational terms Lastly while I find the whole idea of the finance curse compelling and its existence demonstrable I am concerned Shaxson stretches it too far for example concluding the book with a chapter on CAFOs Are they terrible Yes Are contemporary farming and agricultural practices horrid in general Yes Are they a manifestation of the finance curse I am not convinced The book does successfully demonstrate the bloat and uestionable practices in the financial sector but comes up short trying to expose its poisonous influence on the rest of the economy Again I am already in agreement with the author s thesis and I was hoping he would elegantly put relevant arguments into words alas he doesn t accomplish that in this bookThanks to NetGalley for a digital ARC of this book

Free download The Finance Curse

Characters ì eBook, ePUB or Kindle PDF ¸ Nicholas Shaxson Nicholas Shaxson ¸ 8 Summary Free read Ö The Finance Curse ✓ eBook, ePUB or Kindle PDF Of wealth management; the destructive horrors of private euity; and the sinister ‘Competitiveness Agenda’Nicholas Shaxson revealed the dark heart of tax havens long before the Panama and Paradise Papers Now he tells the explosive story of how finance established a stranglehold on society and points us towards a way outThis is a book that none of us can afford to ignor. A good roundhouse kick on the triple woes of financialisation deregulation and tax havens and tax evasions in good company with and sometimes liberally repeating Shaxson s own Treasure Islands Oliver Bullough s Moneyland or Rana Foroohars Makers and TakersWhat I learned How big and corrosive tax evasion is That the deregulation of financial markets and creation of deregulated tax havens in British territories and tax avoiding trust funds interact and were both actively driven by the City of London against US resistanceThat the political rhetoric of a global competition between nations is economically nonsensical but expedient for national economic incumbents who use it to capture regulators and make national markets less competitive for themThe further the book goes on the it falls into a general anti capitalist critiueThe main thesis supposedly holding the book together is the titular finance curse The idea is plausible and has merit Like the resource curse of developing nations rich in natural resources a nation s financial industries can grow to a size where they hurt growth and innovation in other economic sectors and wellbeing across society as it captures regulators fosters corruption and absorbs talent capital and effort into its profit but not value generating activities The book even reports an estimate of how much the oversized financial sector of the UK has cost the country to the tune of several trillions of pounds as always assess the numbers and underlying assumptions for yourself But this nice idea then isn t really developed convincingly as a main thread of the book that necessitates and integrates all its other parts It s like a preface to an overall decent collection of chapters

Characters ì eBook, ePUB or Kindle PDF ¸ Nicholas Shaxson

Characters ì eBook, ePUB or Kindle PDF ¸ Nicholas Shaxson Nicholas Shaxson ¸ 8 Summary Free read Ö The Finance Curse ✓ eBook, ePUB or Kindle PDF G and appease big business with tax cuts We are told global finance is about wealth creation; the reality is wealth extractionTracing the curse back through economic history Shaxson uncovers how we got to this point He exposes offshore tax havens; the uncontrolled growth of monopolies; the myths around the Celtic Tiger and its low corporate tax rate; the bizarre industry. This is the fourth Financial Times 2018 best books that I ve read I have found all of them problematic and not especially worth recommending This is the worst of the four I ve readIt starts by by suggesting that just as there is a resource curse countries with abundant natural resources often do worse than countries without there is also a finance curse countries with oversized financial sectors do worse than countries with non oversized financial sectors The author is British and I believe the book was originally published in Britain So it is mostly targeted at British audiences and based on the introduction he seems to primarily arguing that Britain has been hurt by the outsized importance of London s financial districtSomething similar is happening in Britain These top down wealth flows from the financial sector haven t exactly turned Britain into an authoritarian state but what has happened is that finance is often in conflict with other parts of the economy and in these battles finance always seems to win out It is no coincidence that the decline of British manufacturing since the 1970s has been so much faster than in other industrial economies at the same time as Britain s financial sector assets have grown so much larger as a share of the economy than in comparable Western nationsNotice that phrase it is no coincidence where isn t supported by any data or arguments that s something we ll come back to laterBut even if the book is focused on Britain I think everyone in every country should be at least a little concerned about the impact of the financial sector Maybe Britain is on the cutting edge and lessons can learnt from it and applied to wherever you happen to be livingSo even though it is focused on Britain I was still keen to read onAs chapter after chapter passed I lost my excitement for the book The chapters follow a similar pattern a topic is introduced who relationship to oversized financial sectors is murky we are treated to a long history of how things got to this point and then there are a few unsatisfying lightweight analyses This is not a book with data or charts or references Going back to the introduction and that phrase it is no coincidence Wellhow do you know Prove it Don t just assert it Don t just say it is obvious Convince me Somehow With somethingAt times it feels like the author is just talking about any bad thing a business does even if it doesn t seem to have much to do with oversized financial sectors One chapter is about how communities increasingly compete with one another to offer tax breaks subsidies to businesses and their recent search for H2 is mentioned But isn t part of the financial sector I don t like the practice but I don t see what it has to do with oversized financial sectorsLikewise there is another chapter on how old school anti trust doesn t seem very effective in the modern business climate This chapter is primarily about antitrust as practiced in the US Again it is hard to see what this has to do with oversized financial sectors especially the oversized British financial sectorThe chapters feel disconnected from one another If I skip the chapter on anti trust in the US do I really miss out on anything in later chapters And most of these individual chapters have had entire books written about them Indeed chapter 3 about Britain s tax havens has a book written by this author Not that you need book length treatment for everything it would be a bit ridiculous to say instead of reading this 1 book go read these 11 other books But these aren t particularly compelling chapters eitherWe ll be treated to an excerpt from a 1969 Bank of England memo but when it comes to modern day actions conseuences it all tends to be fairly hand wavy A growing global wall of money is constantly seeking and finding new ways to burrow into the many nooks and crannies of our economy Okay but how much money are we talking about What are the effectsOverall I got the impression that the author was generally interested in telling the story of how things to how they are how British Virgin Islands became a tax haven how Ireland got its low corporate tax rate how Robert Bork convinced the world to change how anti trust was pursued than to really delve into the conseuences circa 2019Of course it probably didn t help that many of these topics were things I already had at least passing familiarity with so all of those history lessons were even boring Maybe someone who is less familiar would find them interesting or eye openingI guess I just prefer numbers data in my financial non fiction and less storytelling

  • ebook
  • null
  • The Finance Curse
  • Nicholas Shaxson
  • en
  • 06 January 2018
  • 9781473546936