(Cross-posted from the Tax Justice Network.)
The Finance Curse is a concept first developed by the Tax Justice Network. It is a relatively simple idea — and also an original and powerful multi-level critique of the modern global economy.
Here we frame it in a number of simple ways.
1. Shrink Finance
We all need good finance. A financial sector has a useful core surrounded by a toxic, predatory part. This should be entirely uncontroversial, especially following the global financial crisis.
It seems sensible, then, to shrink finance down to its useful core. A fast-growing strand of academic research, known as Too Much Finance, backs this up.
Here’s a startling picture from the real world, illustrating the excess bloat (source.)Continue reading