ex africa semper aliquid novi

I have a feeling that Pliny there wasn\’t quite as wise to that continent as some think.

Equatorial Guinea has built a multimillion-pound deluxe \”city\” to host African leaders while the majority of its people live in dire poverty.

Sipopo boasts 52 luxury presidential villas, a conference hall, artificial beach, luxury hotel and the county\’s first 18-hole golf course. It was built over two years to host an African Union (AU) summit that will last just a week.

This has been going on ever since there has actually been an African Union.

Bloke gets to be chairman that means the beanfeast is on his territory. Thus a new village/palace/grand hotel is built for the beanfeast. This has been going on since Kwame Nkrumah in Ghana, when it was still called the Organisation for African Unity.

Corrupt and incompetent twats impoverish their people: this is hardly new in Africa.

What amuses is the problem this sort of thing gives to the likes of Ritchie and Nick Shaxson. If it\’s the governments themselves that are entirely shite, venal, grasping bastards, why campaign to make sure that they get more of everyone else\’s money?

72 thoughts on “ex africa semper aliquid novi”

  1. “Corrupt and incompetent twats impoverish their people”
    Presumably, any connection between African Union 2011, the PIGGS bailout and London Olympics 2012 is purely in the mind of misanthropic cynics.

  2. It’s funny how this corrupt africans suddenly find the expertise to use the financial markets and hide the cash from their poor, if existent, government bodies.

    Idiot. Without total immersion by the big finance house etc this wouldn’t be half so easy.

    That’s why anti poverty campaigners are targeting those compaines that facilitate tax abuse, a root cause of this ability to preserve wealth for the few.

    Maybe if they had a proper government this corruption wouldn’t happen?

    It’s the private sector that has caused this corruption, numpty, nothing to do with society.

    Tim adds: Your contention is that politicans are corrupt because banks exist? Not because, say, politicians are corrupt?

  3. Arnald,

    1) “It’s funny how this corrupt africans suddenly find the expertise to use the financial markets and hide the cash from their poor, if existent, government bodies.”

    They are not hiding it from their government bodies, they are in the hands of those controlling African governments…

    2) “Maybe if they had a proper government this corruption wouldn’t happen?”

    Agreed – that is what us on the rigth have been saying for the last 20 years while the left have been busy helping these corrupt governments stay in command

    3) “It’s the private sector that has caused this corruption, numpty, nothing to do with society.”

    So the corrupt governments are created by the private sector? The African corruption has absolutely nothing to do with the trillions of “aid” that has flown from Western governments and NGOs to these very corrupt African governments?

    And the private sector does not have anything to do with society?!?!

  4. It’s the private sector that has caused this corruption, numpty, nothing to do with society.

    Uh-huh.

    1. So the private sector is nothing to do with society?

    2. So how come it doesn’t cause the same kind of corruption in the UK?

    3. What’s it like to have such a monocausal view of the world?

  5. Hmm. The solution to Africa’s problems – remove all financial institutions because the politicians can’t resist the temptation to use them to salt away their loot.

    A idea that is both economically illiterate AND racist to boot!! Congratulations Arnald, you are the troll di tutti troll!

  6. Jim

    I didn’t say that. I said that it’s those multinats that facilitate the corruption. If those multinats were transparent in their reporting of their transactions and interests then coporate good governance would eliminate illicit trades.

    Emil. Corrupt leaders need propping up. They are not there because of the usual means of democratic principles. They need the money and bling to enforce their status.

    Without a whole ream of behind the scenes corps, making a mint from fees, these guys could not exist as easily.

    To fight corruption you have to under stand corruption as a system, not lazily bat it away as a ‘backward native event’.

    Philip Walker

    It doesn’t happen as much (though when we release those corps to the world it is rife – BAe etc) in the UK because we have an established set of regs and legs etc

    The fact that the big 4, the big banks, the extraction industry etc can run riot in the developing world has nothing to do with corruption, has it?

    Get real.

    Talk about tackling the causes if you lot care so much about the impoverished. (yeah pffft)

    Tim adds: ” I said that it’s those multinats that facilitate the corruption. If those multinats were transparent in their reporting of their transactions and interests then coporate good governance would eliminate illicit trades.

    Emil. Corrupt leaders need propping up. They are not there because of the usual means of democratic principles. They need the money and bling to enforce their status.”

    The absence of multi-nats imperils N Korea so much, doesn’t it?

  7. Arnald,

    So you really think that there is a correlation between the presence of multinats and corruption? I would say that there is but that it goes completely the opposite way compared to what you think, the more multinats the less corruption and the more wealth.

  8. Timothy

    Damn, I’ve been done up like a kipper by the old “North Korea” line! You should be on the telly!

    Emil

    Defending the extraction industry as a model for ensuring stable governance is probably the stupidest thing I’ve ever seen.

    Well done!

  9. “Emil

    Defending the extraction industry as a model for ensuring stable governance is probably the stupidest thing I’ve ever seen.”

    I haven’t said a word about the extraction industry, only pointed out that multinationals tend to do more good than harm in Africa and certainly more good than politicians.

  10. The perfect description of international aid (Daniel Hannan?):

    “Taking money from poor people in rich countries and giving it to rich people in poor countries”

    Tim adds: Peter Bauer originally. They gave him a peerage for that one

  11. “I haven’t said a word about the extraction industry, only pointed out that multinationals tend to do more good than harm in Africa…”

    Why else would multinats be in Africa? If they can bribe and twist the country for its own ends it will do so. Tell me where the benefits are? Again you show a huge amount ignorance. Think about how the EI moves the the stuff it steals, the money it makes, and the legals it writes. Think about the support services it requires. Tell me you weren’t born yesterday to believe the filth their glossy mags and the purple faced CEOs have to say. It’s very sad.

    Timk adds: SAB Miller is there to make and sell beer. The benefit? The locals get beer. SAB Miller gets money. You know, this voluntary echxange thing?

  12. “Taking money from poor people in rich countries and giving it to rich people in poor countries”

    It is how it seems to work. But then, who is advising those corruptors what to do with the cash? They don’t go out in the internal market to splash out. They do it through a black market. How is that black market so hidden, when the sums involved are not transferred in bundles of cash, but done through existing channels. Where does it go? Who facilitates it.

  13. “Doesn’t any one think here?”

    Not on this evidence. BTW, the definition of “here” isn’t the one you’re assuming!

  14. Bigoted? haha. Infantile (ragging on ritchie…)!

    Come on then, ChrisM, tell me what you know of multinat involvement in Africa. You seem quite sure of yourself. Cocksure?

    yeah?

    You sound like a fraggle of well off nobodies clinging on to Worstall’s constant stream of inanities, claiming that debunked economic theory is more worthy than people that actually care about what they do.

    Sociopaths.

  15. Arnald, I never made any claims about what I know. You’re the one full of pompous bluster. I do know an up himself bullshit artist when I read one. I never claimed to be a “somebody” either. Who the fuck is Arnald though? An ill educated prat judging by the crap you have posted here in the last few days.

  16. I think you mean a gaggle rather than a fraggle. The former is a collective noun, the latter a Jim Henson creation.

  17. No ChrisM

    a fraggle is a bunch of ugly muppets banging on about nothing of consequence.

    God, you guys have no creativity do you?

    Dull as ditchwater.

  18. You were wrong because lots of things you said are incorrect, that is why. That is why most people are wrong – by saying things that are incorrect. Others more patient than I have detailed many examples for you.

    A fraggle is an individual muppet, not a bunch of muppets. In the context of your statement you needed to use a collective noun, and fraggle is not a collective noun. There is a term for people who are “creative” with grammar, that term is “illiterate”.

  19. Jesus. I can say a fraggle is what I want, and it just so happens to describe you lot. Who are you, great liberal thinkers that you are, to determine my creative use of “gaggle” and “fraggle”? eh?

    What have I said, especially about multinat influence in Africa, since that is the thread, that can be proved it is totally incorrect? That’s what wrong means, yeah?

    How come the billions from Gadaffi, Mubarak, and the rest, happen to be out of sight of its citizens in European, Us and UK domiciled secrecy jurisdictions?

    Or don’t you believe that they are? Or maybe you don’t believe that those characters are corrupt?

    Pure, unadulterated flannel, mon vieux.

  20. You can indeed say what you want. Other people may in turn judge you for what you say. You are not being creative, you are being illiterate.

    You can’t actually string a sentence together. Your grammar renders you near incomprehensible. Whether this is laziness or stupidity I don’t know or care. If you can’t speak to be understood, that is your problem, not everyone elses.

  21. It is a common tactic of post modernists and idiots (but I repeat myself) to invoke “creativity” when they have been shown to be be wrong.

    Idiot Post Modernist: 2+2=5
    Non idiot: You are wrong.
    IPM: You people have no creativity.

  22. So what I’ve said about the multinats in Africa is wrong then Chris?

    It is also a common tactic from those that are so far up their own arse to patronise on things they nothing about, having never had any fun.

    There is nothing wrong with appropriating wordplay for description.

    oo oo can I join in the pedantry

    JuliaM – I t ‘ s O P P O N E N T

  23. What has fun got to do with being correct. Are you just going to drag as many irrelevant issues in as you can think of?

    I can spot wordplay and I can spot an illiterate twat, and you are an illiterate twat. “patronise on things they nothing about” what the fuck kind of sentence is that meant to be? When writing, try using a word processor not a food processor.

  24. “What have I said, especially about multinat influence in Africa, since that is the thread, that can be proved it is totally incorrect? That’s what wrong means, yeah?”

    That the presence of multinats has a negative impact on the wealth of the poor in African countries

    That they are in these countries with with the very purpose of corruption

    “How come the billions from Gadaffi, Mubarak, and the rest, happen to be out of sight of its citizens in European, Us and UK domiciled secrecy jurisdictions?”

    Because they are corrupt governments. Nothing to do with the private sector. (Many of which have by the way been, and continue to be, supported by aid from Western government and NGOs )

  25. Well Arnald has a point. The private sector creates such forms of wealth as food. If there was no food, we’d all be dead. Dead people can’t engage in corruption. So no private sector, no corruption. Also no murder, no rape, and no folk music.

    Of course, by this logic, oxygen also causes corruption.

    However, unfortunately, Arnald is wrong in his facts. Take this one: The fact that the big 4, the big banks, the extraction industry etc can run riot in the developing world has nothing to do with corruption, has it?

    The fact is that the more corrupt a country is, the less investment it sees. See http://www.nber.org/papers/w6255.pdf?new_window=1 for some research. Corruption discourages FDI more than tax does.

  26. Arnald – still boring as a wet wednesday in aberdeen. And bumptious with it. What a winning combination! You must be a hit at parties, Arnald

  27. oh dear ChrisM

    Must I put all these posts through a word processor to be one of your gang?

    Tracy W

    So financial outflow doesn’t count as corruption

    http://iff-update.gfip.org/

    nor transparency

    http://www.transparency.org/policy_research/surveys_indices/cpi/2010/results

    and if the ones down the bottom are not seeing fdi then I’m one of you bunch

    Just because there is less recorded FDI doesn’t mean that the rich industries are not screwing it.

    Look at the countries. Think of the resources. Look at the rank poverty of their peoples. Think of the massive profits of the megacorps.

    If the market worked, this would not happen. It is an unnatural state of affairs.

  28. Don’t be mean KMcCm, the little jerk uses the word fraggle which apparently shows how much fun he is.

  29. Big Jerk, actually Chris. Actually there was more to it than just muppetry, frag meaning fuck and all.

    But why hide my contempt.

  30. “Must I put all these posts through a word processor to be one of your gang?”

    No, but if you are going to use a processor of some sort, you should make sure it is not a food processor which is what your posts look like they have been through.

  31. Come on then, ChrisM, tell me what you know of multinat involvement in Africa.

    I know fucking loads, more than enough to know that companies generally (although by no means always) prefer not to pay bribes but usually find themselves having to do so in order to get somebody to do the job he is supposed to be doing anyway. These vastly outnumber the bribes paid to circumvent the law or gain an advantage.

  32. As Humpty Dumpty said in Alice in Wonderland, “when I use a word, it means whatever I want it to mean”.

    What goes for Humpty apparently goes for Numpty too.

  33. Tim Newman

    So you know fucking loads about bribery. What about the rest of the fucking quagmire of malpractice. Are you telling me that a tinpot despot engineers transfer mispricing, tax dodging chicanery and have the expertise in ‘wealth preservation’ to initiate illicit outflows?

    Oh and folks, selling guns to psychopaths is not ‘the job they’re supposed to be doing anyway’ etc etc

    The multinationals, aided by the finance industry, sell corruption to developing countries. Why else try so hard to keep the true picture of their books under wraps?
    Candy from a baby.

    Who gives a shit though, yeah, they deserve it, hmm?

  34. “If the market worked, this would not happen. It is an unnatural state of affairs.”

    Actually no – because all of those countries at the bottom of that index have (and have had) less markets than those at the top of that index. The natural affair has been living in extreme poverty, wealth has only come about since the introduction of markets.

  35. Arnald, may I remind you that your claim was “The fact that the big 4, the big banks, the extraction industry etc can run riot in the developing world has nothing to do with corruption, has it?”

    Nothing in the links you supply supports the argument that the big 4 (whomever they are), multinationals, the big banks, the extraction industry, etc, are running riot in the developing world. The first report you list gives the oil exporting countries of Russia, the UAE, Kuwait, Mexico, Malaysia and Nigeria as having increased financial outflows, these are the countries with dominant state-owned oil and gas companies – Gazprom, Kuwait Petroleum Company, ADNOC, Gasco, PMEX (Mexico’s consitution bans private ownership of oil), and Nigerian National Petroleum Corp, and Malaysia’s Petronas.

    So far from supporting your argument, your links undermine your assertion – it’s the countries where the state is dominant that illict outflows are growing.

    Anyone who claims that the private sector is driving corruption based on a report pointing to a bunch of countries having increased outflows where the public sector is dominant is wrong in their facts.

    Look at the countries. Think of the resources. Look at the rank poverty of their peoples. Think of the massive profits of the megacorps.

    You’re missing a few steps.
    Think about how your earlier thoughts might be wrong. Check your thoughts against reality. See if reality supports or contradicts your thoughts. If it contradicts them, think new thoughts.

    If the market worked, this would not happen. It is an unnatural state of affairs.

    Again, I am inclined to partly agree with you, if governments let the markets work, then this would not happen. However, it is all too common as a state of affairs, and has been the normal state of reality for most of human history.

  36. Tracy

    It is far too convenient that the countries that produce the most natural resources manage to outflow their wealth and keep it there. It is not by chance that the contracts that support the notionally state owned corps – are they really state owned? Or are they owned by a ruling kleptocracy, propped up by private corps to maximise profit and keep the status quo? – are with the finance institutions (the accountancy/audit/consultancy cartel, the oil corps etc etc). If the state was functional then those gains made by vast mineral wealth would see those countries advance at the rate that the UK did back in the day).

    The finance debacle of the last few years is a prime example where the madness of hardly regulated markets can destroy dociety and has no respect for national borders, or indeed, anything whatsoever.

    The same can be said for the food industry, oil, arms, drugs, vice. There is no real market, just a vast vehicle for extracting resource and labour and keeping the cash.

    That is true slavery, not the idea of a social democracy that seeks to improve the fabric of society.

    To say that subjugation and exploitation is a ‘normal state of affairs’ is utter ideologically driven bunkum. It has only re-occurred because those at the top want to maintain their position. Take away that notional ‘reality’ by creating a society that actively eschews it, then who knows.
    Obviously it won’t happen at the drop of a hat (but maybe at the drop of a bomb?)

    The fact is, by espousing the guff that individuals will carry the weight of society by purely selfish endeavour shows more about those who slavishly repeat it, generally smirking – as I’ve seen, rather than it having any semblance of reality.

    Tell me where it works, the US?

    Let’s see, no state, no taxes…Somalia?

  37. What about the rest of the fucking quagmire of malpractice.

    Fucking loads about that, too. How about you? What’s your experience of multinationals in Africa?

    Are you telling me that a tinpot despot engineers transfer mispricing, tax dodging chicanery and have the expertise in ‘wealth preservation’ to initiate illicit outflows?

    Yes, it is the wealthy individuals themselves who initiate the outflows of cash. They don’t need expertise to stick money in a foreign bank, nor do they need to engage in tax dodging chicanery once the money is overseas. At home, however, they are masters at tax dodging chicanery and transfer pricing. Your suggestion that Africans are too thick to understand how to embezzle money is somewhat amusing.

  38. It is not by chance that the contracts that support the notionally state owned corps – are they really state owned? Or are they owned by a ruling kleptocracy, propped up by private corps to maximise profit and keep the status quo?

    So let me see, you think that ““The fact that the big 4, the big banks, the extraction industry etc can run riot in the developing world”, even though you don’t know whether the contracts in question are by state-owned companies or not? Don’t you think this is something you should have found out first, before you decided that your assertion was a fact?

    To say that subjugation and exploitation is a ‘normal state of affairs’ is utter ideologically driven bunkum.

    And sadly it’s also true. So I’ll keep saying it. Subjugation and exploitation has sadly been the normal state of human affairs for most of human history.

  39. The multinationals, aided by the finance industry, sell corruption to developing countries. Why else try so hard to keep the true picture of their books under wraps?

    When BP tried to open its books to demonstrate how much it had paid in royalties to the Angolan government, it was threatened with expulsion. The Nigerians issued similar warnings. It ain’t the multinationals bringing corruption to Africa, something which can be seen by the presence of corruption in areas where multinationals don’t operate (such as Lagos road transport) and the near absence of corruption in a lot of places where multinationals thrive (such as the UK).

  40. Gazprom, Kuwait Petroleum Company, ADNOC, Gasco, PMEX (Mexico’s consitution bans private ownership of oil), and Nigerian National Petroleum Corp, and Malaysia’s Petronas.

    Heh! I’ve worked for 5 of those. Although, to be a pedant, Gasco is a subsidiary of ADNOC.

  41. Tim Newman

    But who is facilitating that corruption ffs.

    Are you saying that the guys milking the cash from the poor are SO clever that they pull the wool over the ‘sophisticated’ finance industry?

    The system was there to be abused, they did not create the system. Abuse needs collusion.

    The multinats created the relationships. The finance and legal industries developed the means. It’s up to the little people to suffer from their actions. And ultimately pick up the tab.

    The frontline is lifting up standards of living, not preserving the wealth of the rich. Without tighter controls of the multinats, the true fiddling of the corrupt cannot be uncovered. Without the likes of BP coming into the relationship saying that their books will be open as a matter of law, then this will never happen.

    It has to start somewhere. Or do you want the corruption to continue.

  42. TN
    “..and the near absence of corruption in a lot of places where multinationals thrive (such as the UK..”

    Do you seriously believe this? Like Wall Street? Like pretty much any finance institution you like?

    Jesus. It’s endemic. Why do you think there is so much attention on it all right now? How come, in the last few years, all manner of malfaisance has been uncovered.

    Oh yeah. Abusive tax avoidance, using artificial schemes etc is corruption.

  43. “Artificial schemes”. Artificial is a meaningless modifier here as all schemes are artificial.

    Tax avoidance is not corruption. Tax avoidance is a meaningless concept dreamt up for people who want others to pay more tax than they legally have to.

  44. Sorry, Arnald

    You need to make up your mind, either:

    – the corruption is higher in those countries indicated by yourself in this statement:
    “So financial outflow doesn’t count as corruption

    http://iff-update.gfip.org/

    nor transparency

    http://www.transparency.org/policy_research/surveys_indices/cpi/2010/results

    – or it is “endemic everywhere”

    Also, I would suggest that you start travelling to some developing countries and meeting and working with some “multinationals” instead of sitting in your chamber making up conspiracy stories…. you might actually learn something

  45. Are you saying that the guys milking the cash from the poor are SO clever that they pull the wool over the ‘sophisticated’ finance industry?

    You seem to be missing the point that once the money is out of Africa, it is merely deposited in a bank. There is little or no corruption from the point of export, so the finance industry is barely involved.

    Do you seriously believe this? Like Wall Street? Like pretty much any finance institution you like?

    I suspect you’re confusing incompetence and greed with corruption. In fact, I suspect you’re confusing a lot of things.

    Without the likes of BP coming into the relationship saying that their books will be open as a matter of law, then this will never happen.

    Erm, I think you missed the point. BP wanted to open its books in Angola, but the Angolan government told them to do so would be illegal. So you want BP to breach the law of the country it is operating in, whilst at the same time complaining of corrupt multinationals in Africa. This isn’t very consistent. You’ve also missed the point that BP in the UK is not corrupt and its books are very much open, which casts doubt on your assertion that it is multinationals which cause corruption. But then, I’ve already said this.

  46. Tim Newman

    Rather a twat than a sociopath. At least I have empathy. You can keep your cash and your games with human lives. There are much, much better people than you campaigning for the things that make life work.

    You are a destructive shit.

  47. Arnald: which is more ’empathetic’ – condemning generations of Africans to subsistence farming (minding numbing, back breaking labour, often suffering from failed crops, pests etc), or a short term upheaval, resulting in long term better paid jobs both using the new technology (tractor drivers etc), and also in multiple ancillary industries that currently do not exist – machinery supply and maintenance, distribution and supply of the farming supplies (seed, fertiliser, fuel), transport of the produce etc etc. Plus the possibility of management jobs in all those areas as well.

    If I were a go-ahead young African I know which scenario I would prefer, and offered me greater possibilities for personal improvement.

  48. At least I have empathy.

    No, you have holier-than-thou self-righteousness, based on horseshit.

    You are a destructive shit.

    Fella, I’d wager I’ve done ten times more than you to advance the wellbeing of the human race. Merely gobbing off on subjects you know fuck all about does not do so, no matter how noble you think you’re being.

  49. Jim
    You offer two extremes. The reality is that your vision of well paid, working africans working for a megacorps, and enjoying it, simply does not exist. As for condemning them to scratchy resistance farming, well, that’s just a stick to hit them with. Why not improve their lot by giving them the tech and letting them manage the operation, keeping the profits nationally, instead of lifted out by tax havens, and let them sell us the grain at the fair rate, instead of screwing them with fancy tricks.

  50. TN
    At a personal level, TN, I’m not going to doubt you. I shall not cast aspersions on your expertise or professional success.

    My ire is in the collective reasoning that increasing the well-being of the human race can be achieved through increasing competition for finite resources, by imagining a system that creates money from thin air and by pursuing what is basically the (non)ethics of social darwinism.

    Because that’s what liberty is for, right?

    So by perpetuating the myths espoused on this blog, you are far more destructive than me.

    Tim adds: Ah, now we finally get to the bottom of your misconceptions.

    “increasing the well-being of the human race can be achieved through increasing competition for finite resources,”

    But neither I nor we (taking we as being most of the readers here) think that increasing competition for finite resources is going to do much for the well being of the human race either. Not as a goal in itself anyway.

    The increasing competition is already there, baked into the idea that the currently poor would like to be rich, as we are. What a competitive economy (ie, a market based one) does is allows us to create new resources through technological innovation. And that does increase the well-being of the human race.

  51. Why not improve their lot by giving them the tech and letting them manage the operation, keeping the profits nationally, instead of lifted out by tax havens

    Tax havens to not lift money our of anywhere, which is why your money is not in one. It is put in there by people who have their hands on it, and in Africa those people who we have let “manage the operation”. As for giving them technology and letting them get on with it, the Soviets did this for decades without happy results, and anyway the technology for building a decent road, sewer, or water pipeline is available free off the internet.

  52. “Tax havens to not lift money our of anywhere, which is why your money is not in one.”

    oo oo can I be pedant just like all you guys?

    no. That’s would make me reach down to LCD.

    Pensions, insurance? Probaly scammed through some tax-stink-hole somewhere.

    Anyway, with all your superior knowledge I’m surprised you don’t the make up of mose multinats, especially those operating out of ‘sensitive’ areas.

    Am I surprised? No as I said, once you’ve been well renumerated inside, the blind eye replaces common sense.

    So the Soviets did it and failed? Is that a reason not to find another way. After all, we’re better than the Soviets were, yeah? Better than commies, hmm?

    Make up your mind, oil boy.

  53. Pensions, insurance? Probaly scammed through some tax-stink-hole somewhere.

    This is your evidence that tax havens lift money from Africa? This is it?

    Anyway, with all your superior knowledge I’m surprised you don’t the make up of mose multinats, especially those operating out of ‘sensitive’ areas.

    I used my superior knowledge to get a job with one of them instead. Thanks for the acknowledgement.

    No as I said, once you’ve been well renumerated inside, the blind eye replaces common sense.

    If you think being paid well blinds you to common sense when executing engineering projects in Africa, you’ve clearly not been involved in one.

    So the Soviets did it and failed? Is that a reason not to find another way.

    On the contrary, finding another way is of paramount importance, which is why your suggestion of giving them “technology” and just letting them get on with it – as the Soviets did – is idiotic.

    Make up your mind, oil boy.

    I already did, quite clearly, in comment No. 59.

  54. TN
    Tax havens lift money out of the real economy. It is an undisputable verity. Otherwise why do people maintan that tax competition between jurisdictions is deemed necessary.

    However, I understand more about your stance now. My broad-brush ‘give them the means’ should be the natural aspiration, if one believes in competition within markets.

    I am no apologist for the Soviet MO, but it has to be placed in context of the US/USSR war by proxy across the continent. The US were doing the same elsewhere.

    If they had combined their savvy, then much, much more progress would have been made. Instead of more lethal weapons and the deep infection it has embedded.

    The focus on competition for innovations to increase ‘well-being’ within whatever social framework would be paramount. The skills of professionals involved in social and applied technology sectors would have greater social status.

    Mutually beneficial legislative proposals would be acceptable, if opposed, more rationally debated.

    My point is that the current system of multinat worship will only deliver massive benefit to those that control it. There is no recognition of the complexity of human and social consequences, and so there is no effciency.

    Share price and profit is no measure of progress.
    Digressed.

  55. Tax havens lift money out of the real economy.

    So having failed to produce any evidence of your claim, you choose to repeat it. Well, I don’t know about the others but I’m convinced!

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