Is finance like crude oil? Countries rich in minerals are often poverty-stricken, corrupt and violent. A relatively small rent-seeking elite captures vast wealth while the dominant sector crowds out the rest of the economy. The parallels with countries ‘blessed’ with powerful financial sectors are
Nicholas Shaxson’s latest book is a shocking account of the scale, depth and penetration of tax havens across the globe. Here, the author cuts to the heart of the problem, in an interview with the New Left Project.
