Offshore

Stealth Wealth and the New Colonialism

How do the rich keep getting richer, while dodging the long arm of the law? The ultra-rich seem to live in a different world from the rest of us. That world is called offshore. Hidden from view, the world's ultra-rich can use offshore finance to escape tax obligations, labor and environmental safety regulations, campaign finance rules, and other laws that get in their way.

In Offshore: Stealth Wealth and the New Colonialism, sociologist Brooke Harrington reveals how this system works, as well as how it degrades democracy, the economy, and the public goods on which we all depend. Through interviews with dozens of wealth managers in nineteen countries, Harrington uncovered how this global network of offshore financial centers arose from the remnants of colonialism and has created a new, hidden imperial class.

This engrossing deep dive reveals what offshore finance costs all of us, and how it has colonized the world-not on behalf of any one country, but to benefit a largely invisible empire of a few thousand billionaires, who help themselves to the best society has to offer while sticking us with the bill. As politicians struggle to address the deepening economic and political inequality destabilizing the world, Harrington's expose of the offshore system is a vital resource for understanding the most pressing crises of our time.

©2024 Elisabeth Brooke Harrington (P)2024 Tantor

Thin on either mechanics or story long on sanctimony

Would have been better served to have either; more case studies/stories for entertainment or have been more in depth on the machinery of offshore transactions. It is clear the author finds offshore banking very insidious (fair enough) but I find a lot of her arguments could have been better supported. One reoccurring example is that the author will discuss how money haven X has one of the highest GDPs in the Caribbean after the introduction of the financial sector legislation. However she will then discuss the rampant inequality. I think a reasonable discussion should at least include the consideration of whether the bitten class is still better off- as empirically it is. No one can argue that there is great inequality in these locations however, a reasonable argument could be made that even the poorest on these islands benefited by the pivot from no longer relevant resources to a service economy.

Informative

I feel like I’ve leveled up in world awareness. Well written and engaging. One to share with friends and family.

Wayyy too one-sided and woke to be taken seriously.

Never once gave a single argument for financial privacy such as combating government corruption (such as in my country), incentivizing economic growth, or remembering the arbitrary confiscation of Jewish money by nazi Germany in the 1930s. Shame that this author still can’t put together a balanced piece of nonfiction because she’s clearly spent so much time researching this subject. Classic elitist American leftism from an Ivy League professor.

fantastic break down

this book is excellent breaks down one of the biggest problems in thw world today. something most people know nothing about

Great sociology paper but...

I like the information it provides, does open eyes to some behind the scene issues otherwise not known to most public. Book written like a thesis paper, presented like one, unfortunately, won't be gripping enough for general public but more niche reader. What really dragged this book down is the unfortunately the narration. The narrator sounds like she did the voice for AI read back, and even AI reading program has more intonation and emotion. If I wasn't interested in this topic, probably would've stopped listening due to narrator after 10 min. Would recommend just reading the book instead of listening for those interested in this topic.