In recent weeks, citizens in many countries suffering from government budget cutbacks have been learning more and more about one of the biggest and most dangerous scams in the world: the global web of tax havens that U.S. and European politicians and bankers have nurtured over the years. The only real purpose of these havens [...]
From Prof Jeffrey D. Sachs. Sir, I wonder whether the Cayman Islands leadership knows that it is playing with fire (“Great progress by Cayman Islands”, Letters, May 2). It writes that everything is under control, that my concerns are more influenced by Hollywood movies than hard fact. Well here are a few hard facts. There [...]
From Ms Melanie Ward, Ms Sol Oyuela and others. Sir, Jeffrey Sachs’ account of tax havens’ devastating effects on the rest of the world is spot on (“Austerity exposes the global threat from tax havens”, April 30). We hope his warning will sharpen minds ahead of the Group of Seven finance ministers’ meeting on May [...]
The curtain has been pulled aside on the once secret world of tax havens, and the scale of abuse is nearly beyond reckoning. Week after week, Americans and Europeans worn down by budget austerity have learnt about the secret accounts of their politicians, tax evasion by leading companies and hot money destabilising the world economy. [...]
Children are every country’s most vital resource. This is true not just morally, but also economically. Investing in the health, education, and skills of children offers the highest economic returns to a country. A new study by the UN Children’s Fund (UNICEF) shows which high-income countries are doing well when it comes to making these [...]
In 2003, Libyan strongman Muammar Qaddafi agreed with the US and Europe to end his pursuit of nuclear and chemical weapons in order to normalize relations with the West. Eight years later, NATO abetted his overthrow and murder. Now we are asking North Korea to end its nuclear program as we once asked of Qaddafi. [...]
President Barack Obama’s budget this week makes clear the real political equilibrium in the US. The federal government is shrinking. Discretionary spending in the new Obama budget would shrink to 4.9 per cent of gross domestic product in 2023, compared with 7.9 per cent of GDP in 2008. Both parties have signed on to this [...]
A Conversation on America’s Future: Joe Scarborough and Jeffrey Sachs
