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The Finance Curse

How Global Finance Is Making Us All Poorer
in: Economics
Summary:

The book investigates the detrimental impact that an oversized financial sector can have on an economy, arguing that it can lead to inequality, economic instability, and reduced investment in more productive areas. It explores the mechanisms through which the "finance curse" operates, including tax havens, regulatory capture, and the distortion of politics and economics to serve the interests of the financial elite at the expense of the broader population.

Key points:

1. Finance Curse: Shaxson suggests that a large financial sector can harm an economy by taking resources from other areas, influencing politics, and causing instability and inequality.

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