Friday, October 30, 2015

Movie Review of Film on Corporate Offshoring (10/30/15)

This is a first for this blog -- posting a movie review.  The movie is "The Price We Pay."  This review is from the New York Times:  Andy Webster, Review: ‘The Price We Pay’ Maps a Web of Offshore Tax Havens (NYT 10/29/15), here.  Key excerpts:
“Throughout the world, inequality is soaring to new heights, and the wealth of nations, which once provided prosperity to the majority, has gone missing.” So begins the narration for “The Price We Pay,” Harold Crooks’s exacting and disturbing documentary about offshore tax havens for multinational corporations, the growing concentration of money within a narrow minority, and the erosion of social benefits. The ideas in this densely packed but enlightening film can be challenging, but must be heard. 
As the economist Thomas Piketty, author of “Capital in the Twenty-First Century,” relates on camera, income inequality is at heights unseen since before World War I. Krishen Mehta, a former partner at PricewaterhouseCoopers, estimates that 75 percent of multinationals’ profits reside in places like Singapore, Switzerland, Bermuda and Luxembourg. Giants like Amazon and Apple, whose executives are seen being grilled in hearings in London and Washington, are accused of moving profits to other countries and wiping out, for example, independent booksellers while dodging taxes in major client nations.
The film trailer is here.

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