Overview
How did we get to this situation? Shaxson describes the transformation of banks over the twentieth century as they changed from relatively small institutions that did well for themselves by serving the needs of business, to unfettered global behemoths. As the world reeled from World War II, the banks grew bigger in the post-war restructuring, experimenting with esoteric financial instruments like the Eurobonds in the 1960s, and then in the 1970s and ā80s taking increasingly high risks in order to compete with each other to return more profit to their demanding shareholders. Now these megabanks spread the fiscal gospel that business must be taxed as little as possible, that corporations need rights previously granted to humans, and encourage a fight to the bottom between states to provide the most subsidized environment for big business, in the name of ācompetitivity.ā
We need strong financial institutionsābut when finance grows too big it becomes a curse. The Finance Curse is the explosive story of how finance got a stranglehold on society and how we might release ourselves from its grasp.
This book title, The Finance Curse (How Global Finance is Making Us All Poorer), ISBN: 9780802128478, by Nicholas Shaxson, published by Grove Atlantic (November 5, 2019) is available in hardcover. Our minimum order quantity is 25 copies. All standard bulk book orders ship FREE in the continental USA and delivered in 4-10 business days.
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