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The Hidden Wealth of Nations: The Scourge of Tax Havens
By Gabriel Zucman
University of Chicago Press, $20 (cloth)
Out of Sight: The Long and Disturbing Story of Corporations Outsourcing
Catastrophe
by Erik Loomis
The New Press, $25.95 (cloth)
Two new books link rising inequality to unseen forces: tax havens in
economist Gabriel Zucman’s case, and overseas labor and environmental
exploitation in historian Erik Loomis’s. The adverse consequences of the
free movement of capital suffuse both narratives. Loomis recognizes that
the threat of offshored jobs and outsourced supply chains is wielded to
discipline the domestic workforce in the United States, and Zucman
points out that tax havens have effectively allowed the wealthy to
choose their own tax system and regulatory regime. They each question
received wisdom and ideologically charged models in which
“globalization” is an inexorable force innocent of politics or power,
which operates to either universal benefit or at worst whose ill effects
can be compensated. In fact, thanks to globalization, the economic
body—what its ideological affiliates call “The Market”—is able to
transcend the national body politic, to the benefit of multinational
corporations and the wealthy individuals who own them.
full:
http://bostonreview.net/books-ideas/marshall-steinbaum-zucman-loomis-inequality-globalization
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