The Finance Curse How global finance is making us all poorer 1st Edition by Nicholas Shaxson ISBN 1847925383 9781847925381

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Product details:
ISBN 10: 1847925383
ISBN 13: 9781847925381
Author: Nicholas Shaxson
*SELECTED AS A BOOK OF THE YEAR BY THE FINANCIAL TIMES*

‘Hard-hitting, well written and informative’ Martin Wolf, Financial Times

Global finance is a system that works for the few and against the many.

We need finance – but when finance grows too big it becomes a curse. The City of London is the single biggest drain on our resources; it sucks talent out of every sphere, it siphons wealth and hoovers up government time. Yet to be ‘competitive’, we’re told we must turn a blind eye to money-laundering and appease big business with tax cuts. We are told global finance is about wealth creation; the reality is wealth extraction.

Tracing the curse back through economic history, Shaxson uncovers how we got to this point. He exposes offshore tax havens; the uncontrolled growth of monopolies; the myths around the Celtic Tiger and its low corporate tax rate; the bizarre industry of wealth management; the destructive horrors of private equity; and the sinister ‘Competitiveness Agenda’.

Nicholas Shaxson revealed the dark heart of tax havens long before the Panama and Paradise Papers. Now he tells the explosive story of how finance established a stranglehold on society and points us towards a way out.

This is a book that none of us can afford to ignore.

The Finance Curse How global finance is making us all poorer 1st Edition Table of contents:

Chapter 1: The Rise of Global Finance

• A Brief History of the Development of Global Finance
• Financialization: What It Is and How It Changed the Economy
• The Growth of Financial Institutions and Their Power

Chapter 2: The Roots of the Finance Curse

• Understanding the Concept of the Finance Curse
• How Financial Markets Grow Beyond Economic Needs
• The Relationship Between Finance and Wealth Inequality

Chapter 3: The Impact on National Economies

• The Role of Finance in Economic Stagnation
• How Financialization Stifles Productive Investment
• The Effect on Labor Markets and Wages

Chapter 4: How Finance Undermines Democracy

• The Influence of Financial Institutions on Political Systems
• Financial Lobbying and Its Consequences for Policy-Making
• The Erosion of Public Control Over National Resources

Chapter 5: Financialization and the Environment

• The Link Between Global Finance and Environmental Destruction
• The Rise of Speculation in Natural Resources
• Sustainable Finance and the Cost of Environmental Degradation

Chapter 6: Tax Havens and Financial Secrecy

• The Role of Tax Havens in the Global Finance Curse
• How Financial Secrecy Enriches the Few at the Cost of the Many
• The Erosion of Global Tax Systems

Chapter 7: The Financialization of Everyday Life

• The Impact on Household Debt and Personal Financial Security
• The Growth of Financial Products and Their Influence on Society
• How Ordinary People Are Affected by Financial Markets

Chapter 8: The Crisis of Global Financialization

• The 2008 Financial Crisis: A Case Study in the Finance Curse
• How Financial Crises Erode National Economies and Global Trust
• The Cycle of Boom, Bust, and Bailouts

Chapter 9: The Global South and the Finance Curse

• The Negative Impact of Finance on Developing Economies
• How Financial Colonialism Traps Poor Nations in Debt
• Case Studies of Countries Affected by Global Financial Practices

Chapter 10: The Cost of Financial Globalization

• How Financialization Erodes National Economies and Social Systems
• The Decline of Economic Sovereignty
• The Shrinking of Economic Opportunity and Access

Chapter 11: Breaking the Finance Curse

• Possible Solutions to the Finance Curse
• Rebalancing Power Between Finance, Government, and Society
• Reforming Financial Systems to Serve Public Interests
• Toward a More Sustainable and Equitable Economic Future

Chapter 12: A Vision for the Future

• Rethinking Global Finance and Its Role in Our Lives
• Moving Toward a Finance System That Prioritizes Well-being Over Wealth
• The Importance of Democratic and Transparent Financial Practices

Conclusion

• Key Takeaways on the Finance Curse
• The Urgency of Addressing Financial System Reform

References

• Comprehensive List of Sources and Further Reading

Index

• Index of Key Terms and Topics Covered in the Book

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