- Much of the world is run on the basis of economic theories that have become accepted truths of our era. But they actually have very little evidence to back them up. This month, Naomi Fowler speaks to finance journalist and writer Tom Bergin on how economics ruins economies, and puts economists in the dock. Tom’s book, Free Lunch Thinking: how economics ruins the economy is available here.
- Plus: which nations are the world’s worst offenders for helping multinational corporations pay less tax than they should? The results of the Tax Justice Network’s Corporate Tax Haven Index 2021 are out. Read more here.
Here’s the transcript of the show (may not be 100% accurate)
Featuring:
- Finance journalist and writer Tom Bergin
- John Christensen of the Tax Justice Network
- Hosted and produced by Naomi Fowler of the Tax Justice Network
A tax haven or secrecy jurisdiction is a place that deliberately provides an escape route for people or entities who live or operate elsewhere. They shield them from whatever taxes, criminal laws, financial regulations, transparency or other constraints they don’t like. Ordinary people whose lives are affected by tax haven laws are not consulted on these laws because they live in other countries: they have no say in how those laws are made, thus undermining their democratic rights.
A tax haven or secrecy jurisdiction is a place that deliberately provides an escape route for people or entities who live or operate elsewhere. They shield them from whatever taxes, criminal laws, financial regulations, transparency or other constraints they don’t like. Ordinary people whose lives are affected by tax haven laws are not consulted on these laws because they live in other countries: they have no say in how those laws are made, thus undermining their democratic rights.
A tax haven or secrecy jurisdiction is a place that deliberately provides an escape route for people or entities who live or operate elsewhere. They shield them from whatever taxes, criminal laws, financial regulations, transparency or other constraints they don’t like. Ordinary people whose lives are affected by tax haven laws are not consulted on these laws because they live in other countries: they have no say in how those laws are made, thus undermining their democratic rights.
Revenue, to fund public services, infrastructure and administration.
Redistribution, to curb inequalities between individuals and between groups.
Repricing, to limit public “bads” such as tobacco consumption and carbon emissions.
Representation, to build healthier democratic processes, recognising that higher reliance of government. spending on tax revenues is strongly linked to higher quality of governance and political representation.
Reparation, to redress the historical legacies of empire and ecological damage.