ecogitar: TAX HAVENS: How Globalization Really Works

sexta-feira, 24 de dezembro de 2010

TAX HAVENS: How Globalization Really Works

http://www.cornellpress.cornell.edu/cup_detail.taf?ti_id=5576

From the Cayman Islands and the Isle of Man to the Principality of Liechtenstein and the state of Delaware, tax havens offer lower tax rates, less stringent regulations and enforcement, and promises of strict secrecy to individuals and corporations alike. In recent years government regulators, hoping to remedy economic crisis by diverting capital from hidden channels back into taxable view, have undertaken sustained and serious efforts to force tax havens into compliance.

In Tax Havens, Ronen Palan, Richard Murphy, and Christian Chavagneux provide an up-to-date evaluation of the role and function of tax havens in the global financial system-their history, inner workings, impact, extent, and enforcement. They make clear that while, individually, tax havens may appear insignificant, together they have a major impact on the global economy. Holding up to $13 trillion of personal wealth—the equivalent of the annual U.S. Gross National Product—and serving as the legal home of two million corporate entities and half of all international lending banks, tax havens also skew the distribution of globalization's costs and benefits to the detriment of developing economies.

The first comprehensive account of these entities, this book challenges much of the conventional wisdom about tax havens. The authors reveal that, rather than operating at the margins of the world economy, tax havens are integral to it. More than simple conduits for tax avoidance and evasion, tax havens actually belong to the broad world of finance, to the business of managing the monetary resources of individuals, organizations, and countries. They have become among the most powerful instruments of globalization, one of the principal causes of global financial instability, and one of the large political issues of our times.

Authors:
Ronen Palan is Professor of International Political Economy at the University of Birmingham. He is the author of The Offshore World: Sovereign Markets, Virtual Places, and Nomad Millionaires, also from Cornell.
Richard Murphy is CEO of Tax Research, LLP, based in the UK. He is a frequent adviser to the media, NGOs, and politicians, and writes a blog at taxresearch.org.uk.
Christian Chavagneux, based in Paris, is deputy editor in chief of Alternatives Economiques and editor of L'Economie politique.

How the Media Frames Political Issues

In The Emergence of American Political Issues (1977) McCombs and Shaw state that the most important effect of the mass media is "its ability to mentally order and organize our world for us. In short, the mass media may not be successful in telling us what to think, but they are stunningly successful in telling us what to think about."[13] The presidential observer Theodore White corroborates this conclusion in The Making of a President (1972):

The power of the press in America is a primordial one. It sets the agenda of public discussion; and this sweeping political power is unrestrained by any law. It determines what people will talk and think about - an authority that in other nations is reserved for tyrants, priests, parties and mandarins.[14]

McCombs and Shaw also note that the media's tendency to structure voters' perceptions of political reality in effect constitutes a bias: "to a considerable degree the art of politics in a democracy is the art of determining which issue dimensions are of major interest to the public or can be made salient in order to win public support."[15]

http://www.scottlondon.com/reports/frames.html