$21 Trillion Hoard Hidden from Taxman by Global Elite
| |

$21 Trillion Hoard Hidden from Taxman by Global Elite

A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary $21 trillion of wealth offshore—as much as the American and Japanese GDPs put together—according to research commissioned by the campaign group Tax Justice Network. James Henry, former chief economist at consultancy McKinsey and an expert on tax havens, has compiled…

Capitalism Has Failed—What Next?
|

Capitalism Has Failed—What Next?

Less than two decades into the twenty-first century, it is evident that capitalism has failed as a social system. The world is mired in economic stagnation, financialisation, and the most extreme inequality in human history, accompanied by mass unemployment and underemployment, precariousness, poverty, hunger, wasted output and lives, and what at this point can only…