Category: Political Economy

Offshore: Stealth Wealth and the New Colonialism, by Brooke Harrington (Review)

Offshore: Stealth Wealth and the New Colonialism, by Brooke Harrington, is a heavily-endnoted “Norton Short” of about 100 pages—at about half the length of Oxford’s VSI series, that makes Offshore a “Very, Very Short Introduction” to the perils and pleasures of covert wealth management, if you will. I found it to be an utterly compelling (and enraging) read, and would only fault it for its brevity (and since that is by design, I can therefore hardly fault it at all). It makes me want to read much more about this topic in general (fortunately there is a generous related readings section after the endnotes to assist with this), and more by Brooke Harrington in particular (I shall be moving on to her other, much longer at 400pp, work on the topic, Capital Without Borders: Wealth Managers and the One Percent very shortly), for the author proved herself to be a reliable tour guide to the many freeports out there, be they actually in Freeport, Bahamas, on other islands  in the former British Empire—one key sine qua non which makes offshore finance even possible—or elsewhere in copycat islands, city-states, and even American states (Delaware, Montana, and a few others being now leaders in “offshoring” attracting foreign capital from a rogues’ gallery of bad hombres the world over, as it happens)….

But I get ahead of myself.

The author, a professional sociologist at Dartmouth, states that she was inspired to immerse herself in the industry of private wealth management (no……


Digested Read of The Passions and the Interests by Albert O. Hirschman

Over on my Longreads page I’ve completed a “digested read” of or midrash upon that classic of the history of economic thought, The Passions and the Interests by Albert O. Hirschman (1977)… Check it out!

Digested Read: Albert O. Hirschman’s The Passions and the Interests—Political Arguments for Capitalism before Its Triumph – W.D. Clarke (wdclarke.org)

…


Talking To My Daughter About The Economy, by Yanis Varoufakis (Review)

When I was in my final year of high school (back in the Pleistocene era, when Ontario still had “Grade 13”), I was fortunate to take two courses from the same teacher, a Mr. McCabe—fortunate in a number of ways, although I am only going deal with those relating to the subject matter that Mr. McCabe taught here. I had chosen to take Introductory Economics with him, and was also under obligation by the school, which was a Roman Catholic one, to take a course in Religious Education in each of the five years of high school, which in Grade 13 was actually, at least as Mr. McCabe taught it, more about what is called Social Justice than anything overtly doctrinal: it was, in effect, a course in contemporary human geography and social history viewed through the lens of the Church’s doctrine of there being a “preferential option for the poor”. So while in period one Economics class we learned about the supply and demand curve, about marginal propensities to produce and consume, etc., in period four Religion we learned about the plights of the poorest of the poor around the globe—about Haiti and Jamaica, about Nicaragua, Guatemala and El Salvador, about South Africa, just to name a few examples.

…