Didn’t they notice?
David Runciman: Offshore, 14 April 2011
Treasure Islands: Tax Havens and the Men who Stole the World
by Nicholas Shaxson.
Bodley Head, 329 pp., £14.99, January 2011,978 1 84792 110 9 Show More
by Nicholas Shaxson.
Bodley Head, 329 pp., £14.99, January 2011,
Winner-Take-All Politics: How Washington Made the Rich Richer – and Turned Its Back on the Middle Class
by Jacob Hacker and Paul Pierson.
Simon and Schuster, 368 pp., £11.50, March 2011,978 1 4165 8870 2 Show More
by Jacob Hacker and Paul Pierson.
Simon and Schuster, 368 pp., £11.50, March 2011,
“... were not so happy: they feared a balance of payments crisis. But when in 1963 President Kennedy tried to stem currency outflows by taxing the interest on foreign securities, in an effort to reduce the incentive to export dollars to more lucrative overseas markets, it had the opposite effect, and produced what Shaxson calls ‘a stampede for the ... ”