Capital Without Borders : Wealth Managers and the One Percent by Brooke Harrington (2016, Hardcover)

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Wealth Managers and the One Percent. Capital Without Borders.

About this product

Product Identifiers

PublisherHarvard University Press
ISBN-100674743806
ISBN-139780674743809
eBay Product ID (ePID)221429197

Product Key Features

Number of Pages400 Pages
Publication NameCapital Without Borders : Wealth Managers and the One Percent
LanguageEnglish
SubjectInternational / Economics, Business Ethics, Political Economy, Globalization, Finance / Wealth Management, Banking, Economics / General
Publication Year2016
TypeTextbook
AuthorBrooke Harrington
Subject AreaLaw, Political Science, Business & Economics
FormatHardcover

Dimensions

Item Height1.3 in
Item Weight20.5 Oz
Item Length8.3 in
Item Width5.8 in

Additional Product Features

Intended AudienceScholarly & Professional
LCCN2016-010534
ReviewsHarrington advises governments seeking to address inequality to focus not only on the rich but also on the professionals who help them game the system., Brook Harrington has written a book that few sociologists could manage. She has gained access to the world of the super-rich...It is an ethnography of elites and elites at a level that have rarely been studied through participant observation and interview. The access achieved by Harrington is quite exceptional., Brooke Harrington shines a light into the shadowy and little-understood subject of wealth management. Using in-depth interviews and participant observations, she reviews the tools of the trade of financial advisors and shows the implications for economic inequality, political power, and societal organization. This is an important book on a pivotal profession for those concerned about how the top one percent make and keep their money., Capital without Borders offers an in-depth look into the wealth management profession... This is an important work for our increasingly unequal world. Instead of uncritically blaming the wealthy and the super-rich or national and state governments, it is high time to focus our attention on the brokers, intermediaries and agents who constitute the 'middleman economy' of global inequality., Capital without Borders: Wealth Managers and the One Percent is an innovative approach to addressing a problem that is even more pressing than income inequality-wealth inequality...The book is rich in fascinating detail, from the historical roots of wealth management to a description of a state system that might be called the 'parasitic twin' of the Westphalian model. Capital without Borders is a book that everyone who cares about fairness, the rule of law, and equal opportunity should read. Even if, or perhaps especially if, you're in the 'one percent.', Brooke Harrington's overhaul of the One Percent, Capital without Borders , couldn't arrive at a better time... Capital without Borders is an unparalleled exploration of an especially darkened corner of world finance... Harrington's commentary is a magnifying glass held towards those who are gaining opportunities at the expense of those losing them... Capital without Borders gives a clear picture as to how the world's wealthiest people live in a parallel reality to the rest of the world: one out of reach of laws and regulation on a global scale... Capital without Borders is a vital text for the modern age and a must-read for anyone looking towards a more egalitarian economic future., Capital without Borders: Wealth Managers and the One Percent is an innovative approach to addressing a problem that is even more pressing than income inequalitye"wealth inequalityeThe book is rich in fascinating detail, from the historical roots of wealth management to a description of a state system that might be called the e~parasitic twine(tm) of the Westphalian model. Capital without Borders is a book that everyone who cares about fairness, the rule of law, and equal opportunity should read. Even if, or perhaps especially if, youe(tm)re in the e~one percent.e(tm), Offers a timely account of how the 1% holds on to their wealth...[It] ought to keep wealth managers awake at night...Harrington's book ought to make professionals involved in wealth management aware that they are operating in an 'ethical gray area' and engage in the national discourse on inequality that has been gathering momentum since Thomas Piketty's Capital in the Twenty-First Century ., Capital without Borders: Wealth Managers and the One Percent is an innovative approach to addressing a problem that is even more pressing than income inequality--wealth inequality...The book is rich in fascinating detail, from the historical roots of wealth management to a description of a state system that might be called the 'parasitic twin' of the Westphalian model. Capital without Borders is a book that everyone who cares about fairness, the rule of law, and equal opportunity should read. Even if, or perhaps especially if, you're in the 'one percent.', [Harrington's] account of the social, cultural, and financial intricacies of this profession-about two-thirds of the book-is no small feat...Harrington helps dispel two of the most pernicious myths underlying America's overly tolerant attitude toward the extremely rich: first, that they deserve to be so, and second, that the rest of us might one day be extremely rich too., Brooke Harringtone(tm)s study of wealth management is one of those rare books where you just have to stand back in awe and wonder at the authore(tm)s achievement. In this intensely readable study, she offers a first-ever scholarly insight into a profession that was almost unknown a little over two decades agoe Harrington offers profound insights into the world of the professional people who dedicate their lives to meeting the perceived needs of the worlde(tm)s ultra-wealthy. And, as she makes clear, the most apparently compelling of those needs is to avoid the rule of lawe Done(tm)t doubt the importance of this booke(tm)s messages: this is a significant and valuable case study at the current frontier of political economy., [Harrington] lifts the veil of the wealth management professioneA useful volume for tax policymakers and tax inspectors, the book is also timely: the leak of documents from Panama-based law firm and corporate service provider Mossack Fonsecae"known as the Panama paperse"led the G20 to improve transparency and exchange of information to stop tax evasion and avoidance by offshore financial centers., [Harrington] lifts the veil of the wealth management profession...A useful volume for tax policymakers and tax inspectors, the book is also timely: the leak of documents from Panama-based law firm and corporate service provider Mossack Fonseca--known as the Panama papers--led the G20 to improve transparency and exchange of information to stop tax evasion and avoidance by offshore financial centers., Brooke Harrington's study of wealth management is one of those rare books where you just have to stand back in awe and wonder at the author's achievement. In this intensely readable study, she offers a first-ever scholarly insight into a profession that was almost unknown a little over two decades ago... Harrington offers profound insights into the world of the professional people who dedicate their lives to meeting the perceived needs of the world's ultra-wealthy. And, as she makes clear, the most apparently compelling of those needs is to avoid the rule of law... Don't doubt the importance of this book's messages: this is a significant and valuable case study at the current frontier of political economy., [A] valuable new book... What makes Harrington's book unusual is that she chose instead to investigate the wealth management industry itself. There were no short cuts to doing so. Harrington went undercover as a trainee wealth manager for two years, living and breathing the profession. The result is an insight unlike any other into how wealth management works... One of the many merits of Brooke Harrington's study, therefore, is how it shows that the wealth management industry is a far larger and more integral component of the modern financial system than a focus on the celebrity-saturated case of the Panama Papers might suggest., In this remarkable work, Harrington relays in-depth interviews with wealth managers for the ultra-rich, building on her previous publications on financial markets and fraud...This work adds unique insights into the extraordinary trust between wealth managers and their rich clients, as well as other nuggets of insight., Beautifully written, this book opens a window into the fascinating world of wealth managers for the world's super-rich. I know of no other book even remotely like it., Beautifully written, this book opens a window into the fascinating world of wealth managers for the worlde(tm)s super-rich. I know of no other book even remotely like it., [Harrington's] account of the social, cultural, and financial intricacies of this profession--about two-thirds of the book--is no small feat...Harrington helps dispel two of the most pernicious myths underlying America's overly tolerant attitude toward the extremely rich: first, that they deserve to be so, and second, that the rest of us might one day be extremely rich too., [Harrington] lifts the veil of the wealth management profession...A useful volume for tax policymakers and tax inspectors, the book is also timely: the leak of documents from Panama-based law firm and corporate service provider Mossack Fonseca-known as the Panama papers-led the G20 to improve transparency and exchange of information to stop tax evasion and avoidance by offshore financial centers., Beautifully written, this book opens a window into the fascinating world of wealth managers for the world'e(tm)s super-rich. I know of no other book even remotely like it., Brooke Harrington's overhaul of the One Percent, Capital Without Borders , couldn't arrive at a better time... Capital Without Borders is an unparalleled exploration of an especially darkened corner of world finance...Harrington's commentary is a magnifying glass held towards those who are gaining opportunities at the expense of those losing them... Capital Without Borders gives a clear picture as to how the world's wealthiest people live in a parallel reality to the rest of the world: one out of reach of laws and regulation on a global scale... Capital Without Borders is a vital text for the modern age and a must-read for anyone looking towards a more egalitarian economic future.
Dewey Edition23
IllustratedYes
Dewey Decimal332.6
Table Of ContentCover Title Copyright Dedication Contents Chapter 1. Introduction Chapter 2. Wealth Management as a Profession Chapter 3. Client Relations Chapter 4. Tactics and Techniques of Wealth Management Chapter 5. Wealth Management and Inequality Chapter 6. Wealth Management and the State Chapter 7. Conclusion Notes Acknowledgments Index
SynopsisHow do the one percent hold on to their wealth? And how do they keep getting richer, despite financial crises and the myriad of taxes on income, capital gains, and inheritance? Capital without Borders takes a novel approach to these questions by looking at professionals who specialize in protecting the fortunes of the world's richest people: wealth managers. Brooke Harrington spent nearly eight years studying this little-known group--including two years training to become a wealth manager herself. She then "followed the money" to the eighteen most popular tax havens in the world, interviewing practitioners to understand how they helped their high-net-worth clients avoid taxes, creditors, and disgruntled heirs--all while staying just within the letter of the law. Capital without Borders reveals how wealth managers use offshore banks, shell corporations, and trusts to shield billions in private wealth not only from taxation but from all manner of legal obligations. And it shows how practitioners justify their work, despite evidence that it erodes government authority and contributes to global inequality. Harrington's research offers the first glimpse into the tactics and mentality of a secretive profession that controls astonishingly large flows of capital around the world. Based on sixty-five practitioner interviews--conducted in the traditional financial centers of Europe and the Americas as well as the up-and-coming tax havens of Africa, Asia, and the South Pacific-- Capital without Borders gives voice for the first time to an elite that has worked quietly and unobtrusively to enrich the one percent., How do the one percent keep getting richer despite financial crises and the myriad of taxes on income, capital gains, and inheritance? Brooke Harrington interviewed professionals who specialize in protecting the fortunes of the world's richest people: wealth managers. To gain access to their tactics and mentality, she trained to become one of them.
LC Classification NumberHG179.5.H576 2016

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  • Great Book; Awesome Research Project;Very Comprehensive Report

    Awesome book! Very insightful regarding offshore banking by the super rich... will service as a reference publication for me.

    Verified purchase: YesCondition: Pre-owned

  • Capital Without Borders

    A great book that anyone interested in world power should read.

    Verified purchase: YesCondition: Pre-owned

  • An eye opener

    A compelling, thoroughly-researched and detailed study on how the monied elite stay that way.

    Verified purchase: YesCondition: New