Tackling the Financial CrisisHelleinerE.PagliariS. and ZimmermannH. (eds) (2010) Global Finance in Crisis: The Politics of International Regulatory Change. London: Routledge.OuroussoffA. (2010) Wall Street at War: The Secret Struggle for the Global Economy. Cambridge: Polity Press.McDonoughT.ReichM. and KotzD. M. (eds) (2010) Contemporary Capitalism and Its Crises: Social Structure of Accumulation Theory for the 21st Century. Cambridge: Cambridge University Press.PalanR.MurphyR. and ChavagneuxC. (2010) Tax Havens: How Globalization ReallyWorks. Ithaca NY: Cornell University Press.

This chapter explores important issues in the conduct of global trade and global finance. It asks why the global economy is so good at allowing some people to own untold riches while many others have too little money to meet basic subsistence needs, and whether the world would be better or worse off without the institutions of global economic governance. After discussing the globalization of trade and finance, the chapter considers the regulation of global trade and global finance. Two case studies are presented, one dealing with the ongoing trade war between the US and China and the other with the effect of tax havens on overseas aid budgets. There is also an Opposing Opinions box that addresses the question of how far the institutions of global economic governance currently go to work specifically to the benefit of developing countries.

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Book Review: Contemporary Capitalism and Its Crises: Social Structure of Accumulation Theory for the 21st Century

Review of Radical Political Economics ◽

10.1177/0486613414542791 ◽

2015 ◽

Vol 47 (3) ◽

pp. 498-501

Author(s):

Anil Bolukoglu

Keyword(s):

Social Structure ◽

21St Century ◽

Social Structure Of Accumulation

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Globalization and interconfessional communications

Ukrainian Religious Studies ◽

10.32420/2001.20.1176 ◽

2001 ◽

pp. 13-17

Author(s):

Serhii Viktorovych Svystunov

Keyword(s):

21St Century ◽

Global Economy ◽

Modern World ◽

The World ◽

Target Set ◽

Almost All ◽

Over Time ◽

Rapid Appearance

In the 21st century, the world became a sign of globalization: global conflicts, global disasters, global economy, global Internet, etc. The Polish researcher Casimir Zhigulsky defines globalization as a kind of process, that is, the target set of characteristic changes that develop over time and occur in the modern world. These changes in general are reduced to mutual rapprochement, reduction of distances, the rapid appearance of a large number of different connections, contacts, exchanges, and to increase the dependence of society in almost all spheres of his life from what is happening in other, often very remote regions of the world.

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Curbing Illicit Financial Flows

10.1093/oso/9780198805373.003.0013 ◽

2018 ◽

Cited By ~ 1

Author(s):

Xiaodon Liang

Keyword(s):

Tax Evasion ◽

Developing Economies ◽

International System ◽

Tax Avoidance ◽

Incentive Structure ◽

Global Finance ◽

Tax Havens ◽

Financial Flows ◽

Playing Field ◽

Illicit Financial Flows

Illicit financial flows (IFFs) drain state finances and economic vitality, with disproportionate impact on developing economies. IFFs—including money laundering, tax evasion, and tax avoidance—pose a transnational problem addressed so far through international regimes of coordination and cooperation. But meaningful reductions in IFFs require addressing the root of the problem: information asymmetries. Developed nations and tax havens know where money is hidden and profits are made, while developing nations do not. Since the international system of global finance creates the incentive structure and permissive environment for illicit flows, it is at this level that states must focus their policy-making attention. New information-sharing mechanisms, such as automatic exchange of tax information and public country-by-country tax reporting, can level the playing field and enable lower-income states to effectively address the IFF problem.

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