The Complex Network of Wealth Managers in the Offshore World

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The Panama Papers in 2016 was a cache of data from one company it was 40 years of data from the company called Masak Fonseca. That was followed in 2017 by the Paradise Papers which came from a company called Applebee's and Bermuda. The network is this complex structure that wealth managers have created in the offshore world so what we were able to look at using the leaked data that has has come to light through the 2016 Panama Papers, the 2017 Panama Papers.

The modern world is large and interconnected, and there are a lot of systems that might be important to how it functions but about which most people are barely aware. One of these is the offshore wealth management network, which wealthy individuals can use both legitimately (to invest and plan their money) and less legitimately (to avoid taxation or hide questionable practices generally). Brooke Harrington is a sociologist who has studied offshore wealth management, including by training to be one. In a recent paper, she and colleagues analyze networks of offshore wealth managers as a complex system, uncovering power-law behavior and interesting nation-dependent network structures.

Web site with transcript: https://www.preposterousuniverse.com/podcast/2023/05/22/237-brooke-harrington-on-offshore-wealth-as-a-complex-system/

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Brooke Harrington received her Ph.D. in sociology from Harvard University. She is currently a professor of sociology at Dartmouth College. Among her awards are the IPM Outstanding Book Award from the American Sociological Association. She is the author of Capital Without Borders: Wealth Management and the One Percent.

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