138: How Global Finance is Making Us All Poorer – Nicholas Shaxson - a podcast by Sam Marks & Johnny FD

from 2020-03-18T16:27:28

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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:

Sponsor:

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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