October 17th, 2011
On Saturday, Jeffrey Sachs, who spoke at the 2011 Task Force Conference earlier this month, made an impassioned impromptu speech at Zuccoti Park. The speech covered a range of topics, but at 8:01, he addressed tax havens:
September 14th, 2011
In college we studied the so-called “resource curse:” the tragic observation that countries well-endowed with natural resources tend to have slower economic growth and poorer development than those without. I remember, very clearly, that we studied this concept as though it were a truism—a common and (mostly) irreversible reality that just was. This theory has, in fact, been demonstrated very strongly in quantitative terms. According to an analysis of developing countries by Jeffrey Sachs and Andrew Warner, the more an economy relies on mineral wealth, the lower its growth rate.
Of course, in my classes, we also studied the drivers...
August 23rd, 2011
is back in the Financial Times
with a fine article
about the failed economic leadership of western governments, and tax havens feature prominently in his analysis.
”, he notes, “have proliferated even as the politicians have occasionally railed against them
” we like the twist to the politician's collective tails implied by the word 'occasionally'. And he continues: “In the end the poor are doubly hit, first by global market forces, then by the ability of the rich to park money at low taxes in hideaways around the world.
We have argued for many, many years, that tax havens are a major faultline in the...
May 5th, 2011
Recently we wrote a blog, entitled "Jeffrey Sachs joins the tax justice movement, sort of
," after he wrote some superb (but incomplete) things in the Financial Times
about the race to the bottom on corporate tax.
Well, now he has a new piece on Project Syndicate, to which we have already briefly linked, but which is worth expanding on. It's entitled The Global Economy’s Corporate Crime Wave
, and it's excellent, all the way through. We are particularly excited by this section:
"We will need to light the dark corners of international finance, especially tax havens like the Cayman Islands and...