20/02/25

Tax Competition Enhances Global Financial Stability

When I was in college in the late 1970s, a friend made the mistake of inviting a cult-like political organisation to give a presentation in his dorm room. A group of us attended, to protect him from their clutches. Whenever we would challenge one of the cult’s more absurd statements (my favourite was that Queen Elizabeth II was behind a conspiracy to poison America’s youth with drugs, which had begun with the Beatles’ infiltration of the US music market), a different member of the group would interrupt with the statement with “but that’s not the point”, and make a wholly different (and equally absurd) claim. The debate over whether international financial centres (IFCs) somehow increase global economic instability reminds me of that experience.

Crypto-assets And The Tax Comp…