Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas 237 | Brooke Harrington on Offshore Wealth as a Complex System
15 snips
May 22, 2023 Brooke Harrington, a Dartmouth sociology professor and author of 'Capital Without Borders', delves into the murky waters of offshore wealth management. She reveals the intricate networks utilized by the wealthy, balancing legitimate investment with tax evasion. Harrington shares her ethnographic journey, exposing the ethical dilemmas wealth managers face. She discusses how small nations lure affluent clients and the psychological dynamics influencing the ultra-wealthy. The conversation highlights pressing questions about morality, societal responsibilities, and the complex systems behind hidden wealth.
AI Snips
Chapters
Books
Transcript
Episode notes
Instagram Oligarch Tracking
- A lawyer tracked oligarchs on Instagram to serve them legal papers for debt collection.
- This highlights the vulnerability of wealthy individuals who flaunt their locations despite legal issues.
Cook Islands Trust
- A client avoided a $500,000 Bank of America loan using a Cook Islands asset protection trust.
- This demonstrates how offshore systems can be exploited for debt evasion.
Wealth and Responsibility
- Sean Carroll supports wealthy individuals but emphasizes their responsibility to pay taxes and debts.
- He believes their resources can then benefit society.
