Tax havens, we are often told, are part of the global architecture of capitalism, providing a freedom from regulation necessary to make markets work. In this book, leading authority Richard Murphy uncovers the truth behind this lie. The fact of the matter is that this increasingly popular practice threatens the foundations of democracy, sowing mistrust and creating a regime based upon opacity.
As Murphy shows, how we manage our economy is a political decision, and one that can be changed. Dirty Secrets proposes ways to regulate tax havens and what the world might look like without them.
“Richard Murphy is a rare voice of sanity at a time of economic madness.”
“Backed by years of experience and fired by relentless energy and a burning sense of anger at what the offshore system of tax havens is doing to our fragile world, Richard Murphy’s tireless work at the leading edge of the tax justice campaigns has helped open the world’s eyes to the scale and nature of this growing, metastatising threat to our democracies and our economies. Dirty Secrets makes essential reading for those wanting to understand where it all went wrong.”
“Richard Murphy has for decades been a leading voice on the left arguing for international tax reform. He fizzes with ideas about how policy-makers should organise policies on an international scale...argues that if we manage to stamp out tax havens, the rewards will be bountiful: inequality will fall, and so too the cost of capital. Regulation, markets and even democracy will function better.”
“The Panama Papers detailed corruption by design, and here the fearless author of The Joy of Tax uses them as a jumping-off point to detail, with insight, forensic precision and pugnacity, the truth behind the lie that tax havens are a reasonable part of global capitalism”
“Murphy’s book aggressively attacks the world’s tax havens — or ‘secrecy jurisdictions,’ as he calls them. Their most corrosive effect, in his judgement, is not to allow individuals (including criminals) and corporations to avoid or evade taxes, although that is important. Rather, the worst thing about tax havens is the way in which they prevent the kind of transparency in transactions that any well-functioning market requires…If the secrecy jurisdictions were curtailed, the world would be a much better place, Murphy contends: democracies would be stronger, and markets more efficient.”