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Capital without Borders. : Wealth Managers and the One Percent.
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ISBN: 9780674743809 Year: 2016 Publisher: London Harvard University Press

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Capital without Borders will offer the first in-depth, cross-national examination of the wealth management profession: an extremely powerful professional group about which little is known, except that it controls large flows of capital around the world and has a significant impact on growing wealth inequality. With Oxfam estimating that 1 percent of the global population will own more than half the world's assets by 2016, and policymakers voicing increasingly urgent concerns about the political impact of inequality, this book offers a timely look at the evolution and activities of this central group of players. To understand the workings of their profession, and its complex legal and financial innovations, the author spent two years training to become a wealth manager herself. This experience gave her unique access to practitioners and their methods, and the opportunity to conduct over 60 interviews with wealth managers in 17 countries, from Switzerland to the British Virgin Islands, and from Singapore to South Africa. The findings shed light on the dynamics of growing world wealth inequality, and how they are fueled by political and economic forces. The research will inform ongoing debates about globalization and financialization, in part by making abstract issues concrete and easy to understand for a general readership. Capital without Borders explains the use of offshore banks, shell corporations, and trusts to hide billions in private wealth not only from taxation, but from all manner of legal obligations--including to creditors and family members. Such insights will be of interest not only to scholars and policy-makers, but to anyone interested in the world of wealth and high finance.--

Pop finance : investment clubs and the new investor populism
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ISBN: 0691128324 0691145865 9786612157356 1282157353 1400824575 9781400824571 9781282157354 9780691128320 9780691145860 Year: 2008 Publisher: Princeton : Princeton University Press,

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During the 1990's, the United States underwent a dramatic transformation: investing in stocks, once the province of a privileged elite, became a mass activity involving more than half of Americans. Pop Finance follows the trajectory of this new market populism via the rise of investment clubs, through which millions of people across the socioeconomic spectrum became investors for the first time. As sociologist Brooke Harrington shows, these new investors pour billions of dollars annually into the U.S. stock market and hold significant positions in some of the nation's largest firms. Drawing upon Harrington's long-term observation of investment clubs, along with in-depth interviews and extensive survey data, Pop Finance is the first book to examine the origins and impact of this mass engagement in investing. One of Harrington's most intriguing findings is that gender-based differences in investing can create a "diversity premium"--groups of men and women together are more profitable than single-sex groups. In examining the sources of this effect, she delves into the interpersonal dynamics that distinguish effective decision-making groups from their dysfunctional counterparts. In addition, Harrington shows that most Americans approach investing not only to make a profit but also to make a statement. In effect, portfolios have become like consumer products, serving both utilitarian and social ends. This ties into the growth of socially responsible investing and shareholder activism--matters relevant not only to social scientists but also to corporate leaders, policymakers, and the millions of Americans planning for retirement.Some images inside the book are unavailable due to digital copyright restrictions.


Book
Capital without borders : wealth managers and the one percent
Author:
ISBN: 067497364X 0674973615 9780674973619 9780674743809 0674743806 Year: 2017 Publisher: Cambridge, MA : Harvard University Press,

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How 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.


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Living trust
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ISBN: 9781912719174 1912719177 Year: 2020 Publisher: London Loose Joints

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Loose Joints is proud to present 'Living Trust', the first monograph by American artist Buck Ellison. LA-based Ellison's work broadly investigates the language of privilege through meticulously researched images, often executed through staged settings and performative interventions into the visual language of photography. On the surface, many of Ellison's images appear to mildly reproduce the habits and tastes of comfortable, white, upper-middle-class families: organic vegetables, wellness therapies, performance sportswear, lacrosse & rowing, family Christmas card portraits. However, lurking beneath this is a deep network of enquiry into how whiteness and privilege are sustained and broadcast, whether it is what you put in your body, the bumper sticker on your car, which health problems you can afford to worry about or the quality of the air you breathe. Many images in 'Living Trust' use a recipe of carefully constructed scenarios to question how photography perpetuates these distinctions. Ellison pays actors and models throughout his work to stand in and take on the appearance of generic characters, at times reminiscent of commercial or advertising tropes. In this breaking down of boundaries between different rules of photography, Ellison's work goes beyond a fetishism or repudiation of wealthy habits, in favour of something more ambivalent and uncomfortable. Through webs of association stretching across various photographic styles, 'Living Trust' is an anthropology of W.A.S.P. America, where the quest for authenticity and well-being is aestheticised, internalised and commodified.

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