In the first three videos in this series on tax havens I explored why tax havens should really be called secrecy jurisdictions, what tax havens are used for now and how they try to undermine the regulation of other states.
In this video I move on to ask why tax havens are so harmful? Drawing on economic theory and the simple ethics of fairness that every child understands I argue that tax havens are intended to undermine fair markets, and do. As a result, for from being the bastions of free enterprise that they claim to be tax havens are actually places that seek to undermine the entire market system.
On the way to achieving that goal I argue that they also undermine two other thing as well. One is the rule of law, and the other is democracy.
In that case tax havens exist to create a form of oppression where a few can economically abuse most people through the use of offshore corporations. That is, of course, one description of fascism.