[Marxism] Fwd: The Unseen Threat of Capital Mobility | Boston Review

Louis Proyect lnp3 at panix.com
Tue Nov 3 06:38:34 MST 2015

The Hidden Wealth of Nations: The Scourge of Tax Havens
By Gabriel Zucman
University of Chicago Press, $20 (cloth)

Out of Sight: The Long and Disturbing Story of Corporations Outsourcing 
by Erik Loomis
The New Press, $25.95 (cloth)

Two new books link rising inequality to unseen forces: tax havens in 
economist Gabriel Zucman’s case, and overseas labor and environmental 
exploitation in historian Erik Loomis’s. The adverse consequences of the 
free movement of capital suffuse both narratives. Loomis recognizes that 
the threat of offshored jobs and outsourced supply chains is wielded to 
discipline the domestic workforce in the United States, and Zucman 
points out that tax havens have effectively allowed the wealthy to 
choose their own tax system and regulatory regime. They each question 
received wisdom and ideologically charged models in which 
“globalization” is an inexorable force innocent of politics or power, 
which operates to either universal benefit or at worst whose ill effects 
can be compensated. In fact, thanks to globalization, the economic 
body—what its ideological affiliates call “The Market”—is able to 
transcend the national body politic, to the benefit of multinational 
corporations and the wealthy individuals who own them.


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