Nick Shaxson's new book, Treasure Islands, is already heading for being sold out on the first print run, reaching number 26 on the Amazon best seller list yesterday.
There are two reviews I recommend this morning. One is from Cayman, and is, perhaps, predictable. The review in the Scottish Herald is more interesting, and compelling in its analysis. I particularly recommend giving that one a look.
As they say:
[Gordon] Brown, we know, is an obsessive micro-manager, so he can’t plead ignorance [on tax havens]. He knew what was going on, helped devise the system, praised the City of London for its “financial innovation”. Until politicians like him understand their complicity, there can never be the ethical renaissance in global finance that he calls for.
As I expected, the issue that is perhaps most significant in the book is not the narrative on places like Cayman: much of that was at least partly in the public awareness. The shock is just how secretive the City is and how far from being under control it might be. That's the big issue Nick addresses. And that's where action is needed, urgently.
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All excellent reviews and it looks like a book that certainly would be worth a full read. My only concern is that the book reviews seem to paint these tax havens in a glamourous light with all the stories of suitcases full of cash etc. I can see how this could appeal to the most common human trait which is greed and may direct ‘tax dodgers’ to these havens in the future.
As a humanitarian I despair about the amount of state wealth that disappears from African countries, via their dictator leaders, into the coffers of murky banks in Caribbean islands. I for one do not give to African charities for this reason alone.
Good blog Richard, it always makes great breakfast reading.
I’m looking forward to reading the book. In the meantime, it strikes me as a little odd that we are being encouraged to buy it through such paragons of ethical business as Amazon and Ask.com (per author’s website). I know there’s no VAT on books but wouldn’t it be better to suggest buying via a local independent bookshop?
@vespasian
I know….
Trouble is my local bookshop is 20 miles away
I do my best to support them (and I admit I buy a lot of books – not least from Toppings in Ely) bit sometimes on line has to do
But you could try AbeBooks – I like what they do http://www.abebooks.co.uk/servlet/SearchResults?an=nicholas+shaxson&sortby=17&sts=t&tn=treasure+islands&x=104&y=17
Ordered mine straight away!
When I used to chase tax villains for a living (I ran the Intelligence service for a revenue authority) strangely we found the Caymans to be quite helpful as long as it was informal. I try to put this in the public domain: you’d be surprised how many evaders get caught but don’t let on: there’s a culture among the rich that it’s clever to outwit the sovereign state (which is, after all, merely a bunch of plebs). They don’t like admitting when the plebs catch them out…
nzjunk@gmail.com
@Richard Murphy
Thanks, Richard. I hadn’t thought of Abebooks as a place for new books but you are right. Through abe I’ve found a new copy from an independent bookseller in Berkshire at roughly the same price as Amazon. Of course, the bookseller might also be an aggressive intenrational tax avoider but I think it’s unlikely. Let’s just hope the book’s publisher (Bodley Head/Random House) isn’t too bad on that score either. Or perhaps I’m just being too naive or pious.
@vespasian
It is part of Bertelsman AFG, a German group
I haven’t worked out their tax structure!