Josh Trood writes on the pitfalls of the Washington Consensus and the systematic explotation of countries in the global periphery
By Sarah Jasem
The Paradise Papers are 13.4 million leaked documents spanning the period between 1950 to 2016, which reveal the extent to which the assets of corporations like Facebook, and wealthy public figures from the Queen to Harvey Weinstein, are held offshore where they can be unregulated and untaxed. Almost 7 million of these documents are related to a law firm called ‘Appleby’, filled with lawyers who specialise in registering trusts and companies in overseas jurisdictions with little to no tax rates such as the Cayman Islands, the British Virgin Islands, Bermuda and Mauritius. The leaks were passed on from German Newspaper Süddeutsche Zeitung to the International Consortium of Investigative Journalists, ICIJ. Similarly, in 2016, the same newspaper leaked 11 million documents to the ICIJ where the tax avoidance was orchestrated not be Appleby but by Mossack Fonseca, a law firm in Panama, hence the 2016 leak being marked, ‘The Panama Papers’.
By Vladimir Ivlev
Peer through the lens of neoliberalism and you see more clearly how the political thinkers most admired by Thatcher and Reagan helped shape the ideal of society as a kind of universal market (and not, for example, a polis, a civil sphere or a kind of family) and of human beings as profit-and-loss calculators (and not bearers of grace, or of inalienable rights and duties).
– Stephen Metcalf, The Guardian