From FT Alphaville, the Financial Times blog that probes the guts of financial markets:
Treasure Islands, Nicholas Shaxson’s excellent book on the global offshore tax system.
For those who like financial details that’s an interesting post in itself, looking at Cyprus, its vulnerabilities to Greek default, and links with former Soviet states. For more on this kind of thing, and the way that tax havens can transmit financial shocks, see here and here.
And from Tyler Cowen, who is a guru (for some) on inequality and other things: he calls Treasure Islands “a useful critique” on his widely read Marginal Revolution blog. Cowen’s brief review of Treasure Islands looks mixed, to be honest, but he comes down on my side. He also said that “quality is patchy” at times so I emailed him to ask if he had anything particular in mind (I’m always keen to get things right.) He replied:
“I didn’t think there were bad parts or inaccuracies, there were stretches (too long for most Marginal Revolution readers, though probably not for most readers) that repeated the regulatory arbitrage too many times or covered familiar material, etc. Overall I liked the book.”
Would have been nice to have seen that qualification in the review itself, but hey. Praise from such a big name is a delight. More – and plenty of it – here.