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The Moral Paradox of the Global Shadow Financial System
May 21st, 2012
In the past decades, corruption, tax loopholes, and ineffective trading regulations have widened the gap between developed and developing countries, shifting trillions of dollars in assets from the world’s poorest countries to the world’s richest through illicit financial flows. This increased division was the direct result of financial globalization, suggesting a moral paradox: as global societies have become more connected in an economic sense, we have grown farther apart in a certain moral sense.
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