The Tax Haven Obsession

by Pejman Yousefzadeh on April 3, 2009

Yeah, I can’t figure it out either. And for the record, I think that tax havens are great. They serve as an excellent way to promote tax competition, which in turn helps promote freer markets (they are still a good thing, no matter what the revisionists seeking to make good use of a crisis tell you). In any event, they had absolutely nothing to do with the current financial downturn, and it is crystal clear that they, hedge funds, and the free market in general are being scapegoated by people with an agenda that is separate and apart from taking on the global recession.

Beating up on entities like tax havens and hedge funds may make certain people feel good. But it will do nothing to promote economic growth. Quite the opposite, in fact.

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