{"title":"How Financial Secrecy Undermines Democracy","authors":"Charles Davidson, Ben Judah","doi":"10.1353/jod.2023.a907690","DOIUrl":null,"url":null,"abstract":"Abstract: The expansion and sheer enormity of the financial-secrecy system is undermining democracy to an alarming extent. This system has distorted capitalism and its elites' relationship to taxation and the public realm to such an extent that powerful vested interests are now attached to a financial system that a) conceals kleptocracy, crime, and foreign interference, and b) exacerbates inequality to a degree unrecognized precisely because of the system's secrecy. The state of the public realm shows that capitalism with a secrecy system has become increasingly hard for a democratic polity to hold accountable. Understanding the architecture of the financial-secrecy system, one can identify how to conduct its deconstruction.","PeriodicalId":48227,"journal":{"name":"Journal of Democracy","volume":null,"pages":null},"PeriodicalIF":4.3000,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Democracy","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1353/jod.2023.a907690","RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"POLITICAL SCIENCE","Score":null,"Total":0}
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Abstract
Abstract: The expansion and sheer enormity of the financial-secrecy system is undermining democracy to an alarming extent. This system has distorted capitalism and its elites' relationship to taxation and the public realm to such an extent that powerful vested interests are now attached to a financial system that a) conceals kleptocracy, crime, and foreign interference, and b) exacerbates inequality to a degree unrecognized precisely because of the system's secrecy. The state of the public realm shows that capitalism with a secrecy system has become increasingly hard for a democratic polity to hold accountable. Understanding the architecture of the financial-secrecy system, one can identify how to conduct its deconstruction.
期刊介绍：
Since its inception in 1990, the Journal of Democracy has become an influential international forum for scholarly analysis and competing democratic viewpoints. Its articles have been cited in The New York Times and The Wall Street Journal and widely reprinted in many languages. Focusing exclusively on democracy, the Journal monitors and analyzes democratic regimes and movements in scores of countries around the world. Each issue features a unique blend of scholarly analysis, reports from democratic activists, updates on news and elections, and reviews of important recent books.
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