Summary of The Hidden Wealth of Nations

The Scourge of Tax Havens

University of Chicago Press, more...

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The Hidden Wealth of Nations book summary
The amount of wealth stashed in shadowy tax havens will astound you.

Rating

8 Overall

9 Importance

8 Innovation

8 Style

Recommendation

The Panama Papers scandal of 2016 has refocused attention on tax havens, those shadowy destinations where billionaires, oligarchs and despots hide their cash. In this fascinating investigation, economist Gabriel Zucman estimates that some $7.6 trillion is squirreled away in secret accounts in Switzerland and other locations. Right-wing commentators have bashed his findings. But to his credit, Zucman acknowledges that the clandestine nature of tax havens makes it nearly impossible to pinpoint a figure. His crisp, lively prose makes this slim tome a worthwhile read, no matter your ideological bent. While always politically neutral, getAbstract recommends this book to taxpayers and tax collectors seeking a fresh analysis of an old issue.

In this summary, you will learn

  • How much wealth tax havens conceal
  • How tax havens operate
  • How nations could end offshore tax evasion
 

Summary

Offshore Tax Evasion Is Alive and Well
Tax evasion amounts to little more than stealing from national coffers. Yet, offshore tax havens such as the British Virgin Islands, Switzerland and Luxembourg provide a conduit for wealthy elites to deprive their less affluent fellow citizens of ...
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About the Author

Gabriel Zucman is an assistant professor of economics at the University of California at Berkeley. He also taught at the London School of Economics and is co-director of the World Wealth and Income Database.


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