Nick Shaxson ■ Quote of the day: shareholder value and economists
From a fascinating long article about the genesis of high executive pay in the United States, a quote from French financial economist Jean-Charles Rochet:
“Everyone knows that corporations are not just cash machines for their shareholders, but that they also provide goods and services for their consumers, as well as jobs and incomes for their employees. Everyone, that is, except most economists.”
We have written at length about the shareholder value movement, which has been one of the driving forces behind aggressive tax avoidance.
Indonesia launches investigation following ‘Macao Money Machine’ report
October 2021 Spanish language podcast, Justicia ImPositiva: Los Pandora Papers, el Bitcoin en El Salvador y crisis de la inmobiliaria en China #64
Pandora Papers and (South Dakota) trusts: Why do criminals and the rich like them so much?
Pandora Papers: law firms must disclose clients’ names (like they’ve started doing in the US of all places)
Tax Justice Network Arabic podcast #46: ضريبة تثير جدلا لدى صانعي المحتوى الرقمي في مصر
The Tax Justice Network’s French podcast: Afrique: Plus de transparence entre administrations fiscales pour lutter contre les flux financiers illicites #32
Pandora Papers shows transparency failure is an accountability failure
Tax Justice Network Portuguese podcast #29: Fim à tributação que penaliza os mais pobres
Isle of Man banking data leak reveals how sharing data can identify offshore strategies and improve beneficial ownership
Isle of Man banking leak: Analysing banking data to reveal offshore strategies
29 September 2021