The Finance Curse. How Global Finance Is Making Us All Poorer

*SELECTED AS A BOOK OF THE YEAR BY THE FINANCIAL TIMES*

'Hard-hitting, well written and informative' Martin Wolf, Financial Times

Global finance is a system that works for the few and against the many.

We need finance – but when finance grows too big it becomes a curse. The City of London is the single biggest drain on our resources; it sucks talent out of every sphere, it siphons wealth and hoovers up government time. Yet to be 'competitive', we're told we must turn a blind eye to money-laundering and appease big business with tax cuts. We are told global finance is about wealth creation; the reality is wealth extraction.

Tracing the curse back through economic history, Shaxson uncovers how we got to this point. He exposes offshore tax havens; the uncontrolled growth of monopolies; the myths around the Celtic Tiger and its low corporate tax rate; the bizarre industry of wealth management; the destructive horrors of...