Nicholas Shaxson is a renowned financial journalist from Germany who authored the book, The Finance Curse: How global finance is making us all poorer. He is a journalist, campaigner, and world expert on both tax havens and financial centers, as well as the resource curse. His writing has appeared in Vanity Fair, the Financial Times, the Economist, the Economist Intelligence Unit, and many others.

On this episode, Nick talks about his take on the issues in the economy based on his experiences. He shares his insights about the schemes in the business industry which poses a great danger to the economy and democracy. During the discussion, he delves into the paradox of financialization to a country and enlightens the listeners to the idea of monopoly and imbalance to the business. This episode reveals the problems that an investor may encounter in the business industry.

Where we are:

Johnny FD - Sri Lanka
Sam Marks - North Carolina

Links:

Book - The Finance Curse by Nicholas Shaxson

Sponsor:

AutomationFinance.com/Boss

Time Stamps:

07:44 - How Nick conceptualized ideas for his book
13:51 – What are the impacts of the financial curse to a country?
16:18 – Understanding the financialization of an economy
19:23 – How monopoly is related to the corporate imbalance
24:41 – The harms that tax haven bring to a country/state
28:09 – Downsides of investing to a private equity
30:17 – “Private equity is a profitable business but the problem is that they make very high internal returns” – Nicholas Shaxson
35:30 – Difference in banking system between the UK and USA
38:15 – How powerful people control the market and the economy of the country
40:25 – Most corrupt and rotten banks in the history
44:15 – “I’m a strong believer that tax havens have been a very negative problem for the world economy; and similarly, finance being too big is something that I would like to change” - Nicholas Shaxson
50:53 – The problem of a growing company

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138: How Global Finance is Making Us All Poorer – Nicholas Shaxson 01:10:45 Share

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Shownotes Transcript

138: How Global Finance is Making Us All Poorer – Nicholas Shaxson