 |
 |
Hot Money and the Politics of Debt
R.T. Naylor
Introduction by Michael Hudson
An updated diagnosis of the most intractable problem currently facing the world economy - the simultaneous emergence of hot and homeless money, often illegal in origin, and a massive, growing, and ultimately unrepayable burden of debt incurred, often illegitimately, by the world’s poor countries.
|
Paper 9780773527430
Release date: 2004-08-16
CA $34.95
| US $32.95
| UK £22.95
Canadian rights only
UK rights held by: Cornell University Press
6 x 9
480pp
A ball of hot money rolls around the world. It seeks anonymity and political refuge. It dodges taxes and sidesteps currency controls. It rolls through offshore shell companies and secret bank accounts, phoney charities and fraudulent religious foundations. It is kept rolling by white-collar criminals, gun-runners, drug dealers, insurgent groups, scam artists, tax evaders, gold and gem smugglers, and, not least, secret service agents plotting coups and financing revolutions. R.T. Naylor explains the origins of this pool of hot and homeless money, its origins, its uses and abuses, how the world of high finance, corporate and governmental, became hostage to it, and the price the world is paying and will continue to pay until the hostages are released.
This book was one of the first, and remains the most comprehensive, to dissect the world of offshore finance, capital flight, money laundering, and tax evasion. Once a subject of concern principally to tax authorities and finance ministries, since the September 11, 2001 hot and homeless money has now become a central preoccupation for police forces and intelligence services around the world.
Review quotes
|
"This book is terrific!." Clayton Ruby, The Globe and Mail
|
|
"[Naylor's book] is both entertaining and though-provoking ... He leaves no doubt that there is a lot of hot and dirty money around and that it would be harder to shuffle around without the banks." Washington Post Book Review
"Naylor's book is a damning indictment of the way the world is run." The Toronto Sun
"This is a startling and informative book which everyone, from ruler to the lowest underdog should read if he or she would understand what the real moral and financial malaise of the world is." Lloyd's List
"A thought-provoking work, Hot Money is essential reading on the contemporary scene. Highly recommended." Library Journal
"Naylor outlines in convincing ... detail the controversial mechanisms by which international financial relations are conducted." MacLean's Magazine
"Tom Naylor has a good book here ... Hot Money provides a useful roundup of the problems facing debtor countries ands a rogues' gallery of the ousted leaders who found that, if you know how to handle hot money, you can take it with you." The Montreal Gazette
"Naylor's presentation is disturbing reading. For that reason alone it merits the attention of anyone concerned about the current international monetary mess, its potential for destruction - and its heart-rending impact on millions of defenceless people." Telegraph Journal
"[An] extraordinary book." Irish News
"Naylor spells out a bewildering array of concealment techniques that enabled ex-Philippines president Ferdinand Marcos and deposed Haitian dictator Jean-Claude (Baby Doc) Duvalier to spirit large sums of money out of their countries. And for every hot money haven that comes under pressure, perhaps a dozen more open up." The Toronto Star
"At last, a book for people who suspect that traditional economic accounting methods are out of step with the realities pf modern international finance ... Naylors's clear writing style and imaginative examples give insight into what's really happening in international money markets." Star-Phoenix
|
R.T. Naylor, professor of economics at McGill University, is the author of many books including Wages of Crime: Black Markets, Illegal Finance, and the Underground Economy.
|
|
Previous page
