Offshore |
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Book
Review by Willard Manus "Multinationals
are increasingly creating their own offshore economies across the world--separate,
hidden, and virtually detached from national economies--with enough combined
financial power to match the very biggest states," charges William
Brittain-Catlin in OFFSHORE--THE DARK SIDE OF THE GLOBAL ECONOMY. An investigative
reporter for the BBC, Catlin has written an expose of major proportions,
one that is as shocking as it is important. |
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"The biggest and largest of America's corporations--the Wal-Marts, the Fords, the General Electrics--are the best at the onshore-offshore game," Catlin states. "They dominate and control corporate welfare largessse and political access, while with their Delaware incorporations and offshore networks of subsidiaries they expand and grow worldwide with as little restraint as possible. They also pay far less tax on their profits, in relative terms, than smaller companies do, and the difference is what enables them to pay for the onshore premium." (Picador, $15 ppbk.) |