Capital without Borders

Offers a timely account of how the 1% holds on to their wealth[It] ought to keep wealth managers awake at nightHarringtons book ought to make professionals involved in wealth management aware that they are operating in an ethical gray area and engage in the national discourse on inequality that has been gathering momentum since Thomas Pikettys Capital in the Twenty-First Century. -- Aifric Campbell * Wall Street Journal * Harrington advises governments seeking to address inequality to focus not only on the rich but also on the professionals who help them game the system. -- Richard Cooper * Foreign Affairs * [A] valuable new book What makes Harringtons book unusual is that she chose instead to investigate the wealth management industry itself. There were no short cuts to doing so. Harrington went undercover as a trainee wealth manager for two years, living and breathing the profession. The result is an insight unlike any other into how wealth management works One of the many merits of Brooke Harringtons study, therefore, is how it shows that the wealth management industry is a far larger and more integral component of the modern financial system than a focus on the celebrity-saturated case of the Panama Papers might suggest. -- Felix Martin * New Statesman * [Harringtons] account of the social, cultural, and financial intricacies of this professionabout two-thirds of the bookis no small featHarrington helps dispel two of the most pernicious myths underlying Americas overly tolerant attitude toward the extremely rich: first, that they deserve to be so, and second, that the rest of us might one day be extremely rich too. -- Sam Adler-Bell * Commonweal * Capital without Borders offers an in-depth look into the wealth management profession This is an important work for our increasingly unequal world. Instead of uncritically blaming the wealthy and the super-rich or national and state governments, it is high time to focus our attention on the brokers, intermediaries and agents who constitute the middleman economy of global inequality. -- Sin Yee Koh * LSE Review of Books * Brooke Harringtons overhaul of the One Percent, Capital without Borders, couldnt arrive at a better time Capital without Borders is an unparalleled exploration of an especially darkened corner of world finance Harringtons commentary is a magnifying glass held towards those who are gaining opportunities at the expense of those losing them Capital without Borders gives a clear picture as to how the worlds wealthiest people live in a parallel reality to the rest of the world: one out of reach of laws and regulation on a global scale Capital without Borders is a vital text for the modern age and a must-read for anyone looking towards a more egalitarian economic future. -- Matthew Fay * PopMatters * Brooke Harringtons study of wealth management is one of those rare books where you just have to stand back in awe and wonder at the authors achievement. In this intensely readable study, she offers a first-ever scholarly insight into a profession that was almost unknown a little over two decades ago Harrington offers profound insights into the world of the professional people who dedicate their lives to meeting the perceived needs of the worlds ultra-wealthy. And, as she makes clear, the most apparently compelling of those needs is to avoid the rule of law Dont doubt the importance of this books messages: this is a significant and valuable case study at the current frontier of political economy. -- Richard J. Murphy * Times Higher Education * Fascinating. -- Diane Coyle * Chronicle of Higher Education * [Harrington] lifts the veil of the wealth management professionA useful volume for tax policymakers and tax inspectors, the book is also timely: the leak of documents from Panama-based law firm and corporate service provider Mossack Fonsecaknown as the Panama papersle

Brooke Harrington is Professor of Sociology at Dartmouth College.