The debate, held in response to the Occupy protest at the London Stock Exchange was opened by Clive Menzies, City Fund Manager, who spoke of the “systemic incentives to misbehave” inherent within the framework of the current model of capitalism which continuously defies legislature. John Christensen, International Secretariat of the Tax Justice Network, affirms that we “need a new value-based monetary system” as “our monetary and banking system is the cancer at the heart of our civilisation”. He went on to assert that tax havens operate essentially as postcolonial extensions of empire market and wealth domination which are deeply counter democratic and which have the effect of reducing national investment . This heavily impacts on development by essentially bleeding wealth created which is of particular concern in developing countries. Dr. Luke Bretherton of Kings College framed the current neo-liberal capitalism as being promiscuous, loveless and inhumane.
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