Economy, International finance
Book Review: Treasure Islands by Nicholas Shaxson
5.0 out of 5 stars
Sturdy and Brave Journalism
20 Feb 2011
By Conjunction (Amazon Reviewer)
Shocking, a word that many reviewers have used, is a good one for this book. Terrifying might be another.
I am not an economist by a long shot but am lately reading books like this to understand what is going on.
Shaxson’s book is basically about the modern structure of finance capitalism, and he suggests that the foundation stone of the edifice is the offshore system.
The basis of offshore banking is that a global corporation sidles up to some tiny country and offers it some nice little kickbacks in return for an agreement that they will have to pay little or no tax. Continue reading