Profit and Power

Ronen Palan is Professor of International Political Economy at City St George's University of London. He was the founding editor of the Review of International Political Economy and his previous books include Sabotage: The Business of Finance (with Anastasia Nesvetailova, 2020), Tax Havens: How Globalization Really Works (with Richard Murphy and Christian Chavagneux, 2010) and The Offshore World (2003).

'Ronen Palan's new book argues that today's most successful firms are centrally coordinated multi-corporate enterprises that earn their profits from intangible assets and jurisdictional arbitrage, exploiting cross-border differences in government policies and regulations. The book explores corporate strategies that exploit these legal gray areas and their broader implications for wealth, power and capitalism.' Lorraine Eden, Adjunct Professor of Law and Professor Emerita of Management, Texas A & M University

• Introduction; 1. Decoding jurisdictional arbitrage: strategies, implications, and global dynamics; 2. The advent of the centrally coordinated multi-corporate enterprise; 3. Tools of trade; 4. Corporate tax arbitrage; 5. How the European Union became a facilitator of global corporate tax avoidance; 6. A world of fuses and splitters; 7. How not to tell by telling: reporting and disclosure arbitrage; 8. Geopolitics and jurisdictional arbitrage: does the US arbitrage the world?; 9: The hidden empire: how MNCs redefine power through arbitrage; Conclusions.