Perry Work Report: work&labour news&research, January 15, 2016

January 15, 2016

Announcements:

The Canadian Labour Economics Forum Conference

The Canadian Labour Economics Forum (CLEF) will hold a Conference on labour economics in Ottawa on June 2, 2016. The keynote speaker is Christopher Taber from the University of Wisconsin-Madison.

The conference marks the launching of the CLEF, a new network of scholars and policy practitioners interested in continuing a Forum to discuss and support Canadian labour research. CLEF is the successor of CLRSN and, as it develops, it will aim to offer a venue for debate and to help broadcast member's research through different initiatives.

Canadian Association for Work & Labour Studies Conference

CAWLS 3rd Annual Conference: Re-energizing Communities: Building Worker Solidarity and Social Justice, will be held 1-2 June 2016, at the University of Calgary, as part of the Congress of the Humanities and Social Sciences.

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Industrial Relations Outlook 2016

“Another year of modest economic growth in Canada is expected to challenge the labour relations environment in 2016, according to The Conference Board of Canada’s Industrial Relations Outlook 2016. The public sector in particular will be constrained by ongoing emphasis on fiscal restraint.”

Highlights include:

  • “Greater focus on relationship-building will be key next year as the uncertain economic environment will affect collective bargaining.
  • Labour relations in the public sector will be constrained by emphasis on fiscal and wage restraint.
  • An aging workforce is causing a shift in priorities for both employers and labour.
  • The priorities of the millennial generation will drive demands at the bargaining table, and unions will need to engage the younger generation to meet succession planning needs.”

The findings from the Industrial Relations Outlook 2016 will be presented in a live webinar on February 9, 2016 at 2:00 p.m.

The Conference Board of Canada, January 9, 2016: “Challenging Labour Relations Environment to Continue In 2016, But Few Labour Disputes Expected”

The Conference Board of Canada, December 23, 2015: “Industrial Relations Outlook 2016,” by Katherine Symonds

The University of Toronto community may access this report for free. To subscribe, create an e-Library account HERE using your “@mail.utoronto.ca" or "@utoronto.ca" e-mail address and follow the registration instructions.

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Correctional Services in Ontario Deemed "Essential"

“Ontario [has] inked a new contract with its correctional workers that acquiesces to the union’s chief demand -- that the 6,000 employees be designated an essential service.”

“The deal ... also punts the union’s wage concerns to binding arbitration and defers talks regarding staffing issues to future meetings. The essential-services title comes with potentially massive financial implications. In Ontario, essential-service workers, such as police and firefighters, don’t have the right to strike. Instead, outstanding issues between the union and the employer go to binding arbitration.”

“Under the new deal, correctional workers won’t join the ranks of other essential services fully until the next round of contract talks. This time around, only wage issues will go to an arbitrator, with a decision forthcoming in less than 60 days. While financial details will be unknown until arbitration is complete, the province stated that the deal is consistent with the fiscal plan outlined in the 2015 budget.”

“The contract also grants correctional workers the right to bargain as a stand-alone unit for future negotiations -- another major union demand.” 

The Globe and Mail, January 9, 2016: “Deal with Ontario corrections workers includes ‘essential service’ designation,” by Patrick White

CBC News, January 11, 2016: “Correctional workers labour deal clears way for ‘transformation,’ Naqvi says”

Government of Ontario, December 29, 2016: “’No Board’ Report Issued at OPSEU’s Request in Correctional Bargaining Unit Negotiations”

Highlights of the agreement include:

  1. Wages head to arbitration
  2. Freeze lifted on pay grid progression
  3. More Probation and Parole Officers added
  4. Joint committee to look at probation workloads
  5. Bankable hours increased for CTO
  6. All COBUSA positions saved
  7. Expedited process for bargaining-related discipline

OPSEU, January 9, 2016: “OPS Table Talk 2016 Issue 43 -- Corrections bargaining enters new world today”

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Essential Services Legislation in Saskatchewan and Alberta

“The Saskatchewan government has tabled amendments to Part VII of the province’s Employment Act in light of the Supreme Court of Canada’s January 30, 2015 decision, which struck down as unconstitutional an essential services law that prevents some public sector employees from striking.”

“Bill 183, the Saskatchewan Employment Amendment (Essential Services) Act, 2015, tabled in the legislature on October 15, 2015, was developed in collaboration with public sector employers, the unions that represent their workers, and government representatives, following public consultations.”

SLAW, October 22, 2015: “Amendments to Saskatchewan Essential Service Law,” by Yosie Saint-Cyr  

CBC News, November 10, 2015, “Sask. government passes new laws for essential services”

“The Alberta government is holding consultations on proposed legislation to protect essential public services while upholding public sector workers’ right to meaningful collective bargaining dispute resolution.”

“The goal of the new legislation is to align the law with the January 2015 Supreme Court of Canada decision in Saskatchewan Federation of Labour v. Saskatchewan, where it was found that the right to strike is fundamental to the collective bargaining process and is constitutionally protected under section 2(d) (Freedom of Association) of the Canadian Charter of Rights and Freedoms.”

SLAW, October 8, 2015: "Alberta Consulting on Essential Services Legislation," by Yosie Saint-Cyr

“Additionally, on March 31, 2015, the Court of Queen’s Bench of Alberta declared that the strike prohibition in the Public Service Employee Relations Act (PSERA) and the strike prohibitions relating to regional health authorities (i.e., Alberta Health Services) and Approved Hospitals in the Labour Relations Code violate the Charter and are without force and effect. The Court suspended the declaration of invalidity for one year to allow time for the Government of Alberta to introduce replacement legislation.”

Alberta Government Consultation on Essential Services [website]   

Essential Services Discussion Guide

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Corporate Director Pay Surges 41% Over Four Years

“The escalation of executive pay in Canada is reaching beyond the corner office and into the boardroom, with pay for corporate directors soaring by 41 per cent between 2011 and 2015.”

“A review by the consulting firm Spencer Stuart of 100 large Toronto Stock Exchange companies shows directors’ total pay, including equity grants, averaged $183,000 in 2015, a 5.5-per-cent increase over 2014 and a 41-per-cent growth rate from 2011, when director pay averaged $130,000.”

“The increase in directors’ pay has outstripped even the growth in pay for the CEOs they supervise. A Globe and Mail report on Canada’s 100 largest companies by market value showed CEO pay was up 21 per cent between 2011 and 2014.”

Notable findings from this year’s analysis include:

  • “New director appointments in the CSSBI 100 were almost equally divided between men and women in 2015: Nearly half (45%) of all non-executive directors appointed to the boards of CSSBI 100 companies were women, a new high for these companies.”
  • “A large portion of the women recruited were not residents of Canada:  In 2015, one-third of the women appointed to the boards of CSSBI 100 companies were non-residents of Canada, just above the six-year average of 30%.”
  • “Appointments of first-time, public company directors continued to trend higher:  In 2015, appointments of first-time, public company directors represented 39% of all non-executive directors appointed to the boards of CSSBI 100 companies, a six-year high.”
  • “There has been a notable increase in the proportion of women appointed without having prior public-company board experience: 52% from 2013 to 2015, compared with 38% from 2010 to 2012.”
  • “Compensation rose for directors and chairs, with the highest increases in financial services. Median total non-executive director compensation (including equity) increased by 6% over 2014 to C$183,000. Median total board chair compensation increased by 8% over 2014 to C$390,500. Increases in total non-executive director compensation were highest in the financial services industry at more 15% in 2015 vs. 2014.”

The Globe and Mail, December 14, 2015: “ Corporate director pay surges 41 per cent over four years” by Janet Mcfarland

SpencerStuart, November 2015: “Canadian Board Index 2015“

The Globe and Mail, December 14, 2015: “Say on pay -- Why shareholders are so angry“ (video, 3:51)

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Canada's New TV Rules Could Erode Jobs and Funding

"Major changes to the television industry are set to roll out later this year, but a new study warns that rules designed to unbundle large cable and satellite packages could cause nearly 7,000 job losses and take away about $400-million in funding for Canadian programs.”

“The 100-page report by consulting firm Nordicity and broadcasting consultant Peter Miller was commissioned by unions and advocacy groups representing creators and producers in the TV sector. It responds to new regulations born out of Let’s Talk TV, a hearing held by the federal regulator in the fall of 2014 that resulted in a promise that viewers would soon be able to pay only for the channels they want.”

“The findings suggest the pain felt by an industry already under pressure from online video will be exacerbated by the new rules, chasing hundreds of millions of dollars in annual revenue out of the TV ecosystem. And while much of the hardship would be felt by the largest TV distributors and broadcasters, the effects would trickle down, reducing investment in Canadian shows and threatening the survival of some Canadian channels, the groups argue.”

The Globe and Mail, January 5, 2016: “Canada’s new TV rules could erode jobs, funding, report finds,” by James Bradshaw

The Globe and Mail, January 5, 2016: “New pick-and-pay rules could erode jobs, funding, report warns” (video, 2:38 min.)

Nordicity, December 2015: “Canadian Television 2020: Technological and Regulatory Impacts” (104 pages, PDF)

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Interprovincial Migration in Canada

“Labour accounts for more than half of Canada’s economic output. So a big part of the Canadian economy’s adjustment to oil’s collapse, and the rotation of output away from resource sectors and toward non-resource exports, services and other economic segments, will necessarily require a redistribution of labour.”

“[A new study on interprovincial migration trends from the Centre for the Study of Living Standards, an Ottawa-based economic research group] showed that interprovincial migration last year added $1.23-billion to Canada’s gross domestic product over what it would have been without migration; not a huge figure in a $1.8-trillion-a-year economy. But given that fewer than 1 per cent of Canadians (about 300,000 people) moved from one province to another last year, it’s pretty significant; through relocating, each of these migrants raised their economic contribution by an average of 9 per cent.”

“And relocating isn’t a one-year deal. The cumulative effect since 1987 of workers having migrated to other parts of the country, the study says, boosted last year’s GDP by $15.8-billion over what it would have been if they had stayed in their home province.”

“But human lives aren’t anywhere near as instantly mobile as money is. On top of obvious personal issues that can discourage movement, there are certifications and licences for many skilled, regulated occupations that aren’t transferable across provinces."

“Canada’s interprovincial mobility has also been slowed by the demographic evolution of the labour market. The much greater importance of dual-earner families reflecting increased female labour-force participation is one factor that appears to have reduced geographical mobility. The aging of the population has also contributed somewhat, since older workers have lower mobility rates than younger workers.”

The Globe and Mail, December 30, 2015: “Migration between provinces a key economic indicator in 2016,” by David Parkinson

Business Council of British Columbia, November 18, 2015: “Labour Mobility an Essential Feature of Canada’s Regional Labour Markets" (5 pages, PDF)

Centre for the Study of Living Standards, November 2015: “Interprovincial Migration in Canada: Implications for Output and Productivity Growth, 1987-2014,” by Roland Tusz, Erika Rodrigues, and Matthew Calver (61 pages, PDF)

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Finding Employment as an Older Worker

“60 per cent of people over the age of 55 who are re-employed at some point within 10 years of leaving their long-term jobs, according to a 2014 Statistics Canada report. The younger the retiree, the higher the likelihood of re-employment, but even among those aged 60 to 64, 44 per cent return to work.”

“Although some work because they want the stimulation and sense of purpose it brings, many toil away simply because they need the money. In fact, the Statscan report notes that people without a registered pension plan through their workplace put in more years once rehired than those who had that workplace benefit.”

“That said, finding employment, particularly after the age of 55, isn’t easy in today’s sluggish economy. A report by The Continuing Legal Education (CLE) Society of British Columbia on ageism in the workplace finds myths about older workers abound. They’re often seen as less productive, more apt to take time off work due to illness and a poor investment because the assumption is they won’t ‘stay long in their positions.’”

“Research clearly shows those stereotypes are untrue, the CLE notes. And yet, Rick Richter, a partner and executive recruiter with Mandrake Management Consultants, affirms that placing (or even getting interviews for) workers over the age of 55 remains ‘challenging.’”

The Globe and Mail, December 30, 2015: “Getting past ageism and back to work after a late job loss,” by Camilla Cornell

Statistics Canada, January 2014: “Employment Transitions Among Older Workers Leaving Long-term Jobs: Evidence from Administrative Data” by Aneta Bonikowska and Grant Schellenberg (45 pages, PDF)

The Continuing Legal Education Society of British Columbia, May 2015: “Age Discrimination, Inclusive Design, and Older Workers,” by Krista James, Rachel Kelly, and Alexandre Blondin (18 pages, PDF)

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Questioning the "Sharing Economy"

“There are now 20,000 Uber drivers in Canada and more than 400,000 in the United States. They work for Uber, often exclusively, but the company does not consider them employees.”

“Thousands more work for other fast-growing online sharing intermediaries, including Airbnb, TaskRabbit, Lyft and DogVacay.
 Across the US, Airbnb represents only about 1-2% of hotel demand. But in some of [the] top cities, Bank of America estimates that Airbnb makes up closer to 5-7% of hotel demand. The same is true on the supply side. Nationwide, Airbnb’s entire-home and -apartment listings are thought to make up 2-4% of the overall hotel room supply."

“On the surface, this arrangement seems to suit everyone. It’s highly efficient for the technology intermediaries, such as Uber. They pay workers only for as long as they’re needed, while assuming none of the heavy responsibilities that most other employers do. Meanwhile, workers have the freedom to work only when they want to. They can set their own hours and work for multiple employers.”

“But there is a darker side. These workers often toil in a legal and institutional vacuum. They generally aren’t eligible for minimum wages, workers’ compensation, employment insurance or the right to unionize. Most don’t charge GST and HST because they don’t generate sufficient revenue, and their employers don’t withhold income taxes, Canada Pension Plan contributions and employment insurance from their income.”

“Instead of trying to shut them down, governments should focus on building a regulatory regime that protects workers and employers alike in this dramatically changed world of work.”

The Globe and Mail, December 25, 2015: "It’s time to regulate Uber if a ‘gig’ economy is here to stay,” by Barrie Mckenna

Quartz, December 29, 2015: “Airbnb is becoming a real threat to the hotel business in big US cities,” by Alison Griswold

The Real Sharing Economy

“Forget Uber or Airbnb, there’s a real sharing economy in Toronto for those willing to look for it, some say.”

“While the two tech giants are often referred to as leaders in the emerging 'sharing economy,' there’s a growing consensus that the label doesn’t apply.”

“The profit motive -- or lack thereof -- aside, what really separates a company like Uber from the tool library and other places is a sense of community, [Ryan Dyment, founder of the Toronto Tool Library] said. Through its services and events, the organization has brought numerous people together to share, swap or learn with one another.”

Five Ways to Get Your Share on in Toronto

  1. “Toronto Tool Library: The library offers members access to more than 2,000 different tools at three locations.”
  2. “Craigslist rideshares: Long before Uber, drivers and passengers were connecting on Craigslist to share rides -- and the cost of gas.”
  3. “Couchsurfing: Numbers have dropped, but there’s still a community of couchsurfers willing to trade a little cross-cultural experience for a spare bed.”
  4. “Centre for Social Innovation: Toronto’s pre-eminent co-working spot lets members share office space and equipment.”
  5. "Bunz Trading Zone: A sort of Facebook flea market, the group allows members to connect and swap just about anything. The only rule is that no money exchanges hands, but things like TTC tokens are fair game.”

Metro, January 5, 2016: “Finding Toronto’s real sharing economy,” by Luke Simcoe

CBC Radio, Metro Morning, January 8, 2016: “Sharing Economy” (audio, 6:13 min.)

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Is Group Training More Effective than Individual Training?

“Training needs to be delivered in the most efficient way possible to maximize the return on investment. The time spent training needs to be the shortest possible while still ensuring maximum learning is occurring. One way to possibly make training more efficient and effective is by utilizing more group training.”

“Though group training may prove to be more effective than individual training in ideal group conditions, it seems unlikely that the average HR practitioner will have the time or training to ensure that the numerous, [conditions for optimal group learning] are met.”

“HR practitioners should be aware that employee gender, learning preference, age, motivation towards the training topic and unrelated educational background may not impact training effectiveness when choosing between individual and group training modes. However, prior knowledge of the training topic and quicker completion times for training assessments may lead to relative increased training effectiveness for both individual and group training conditions. To improve the method of selection of training programs conducted at the workplace, HR practitioners should closely investigate as many relevant circumstances as possible that may impact the effectiveness of training to determine a more conductive module of training for their organization. If group training is conducted, the required conditions for optimal group training [...] should be addressed by HR practitioners to ensure maximum training effectiveness.”

Human Capital, Winter 2015: “The Effect of Group Training and Individual Motivation of Performance: A Research Experiment” by Anna Quian Zhang, Jane Baoyue Zhu and Rob Kilarski

Anna Quian Zhang, Jane Baoyue Zhu and Rob Kilarski are all recent graduates of the MIRHR program at the University of Toronto. This research experiment was completed as a requirement for the Master of Industrial Relations and Human Resources (MIRHR) program at the University of Toronto in August 2014. Special thanks to Dr. Hua Wang at the U of T’s Centre for Industrial Relations and Human Resources for her guidance and support.

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Telecommuting Can Make the Office a Lonely Place

“If managers have had doubts about telecommuting, they have centered on whether people working from home will be as productive as they are in the office and if some form of monitoring is necessary, said Kevin W. Rockmann, an associate management professor at George Mason University.”

“But new research by Professor Rockmann and Michael G. Pratt, a management professor at Boston College, suggests that concerns about off-site work should be turned in an entirely different direction: toward the people who remain in the office. The professors’ work appears in a recent edition of The Academy of Management Discoveries.”

“In a study of a Fortune 100 company in Silicon Valley that freely allowed off-site work, the researchers found that the employees who chose to continue working in the office ended up feeling lonely and disconnected. Many of these people came into work because they desired social interaction, and yet they found themselves deprived of the convivial lunches, spontaneous hallway interactions and impromptu office conversations that can be so energizing. 'The office essentially became this isolated wasteland,' Professor Rockmann said in an interview.”

“According to his study, the decision to work from home became contagious, extending beyond the people who chose it because they truly wanted or needed the flexibility. In short, more people started working from home because everyone else was doing it. And so the office became even more desolate than it already was. One manager said that 'in some ways, teamwork no longer existed” at the company after the more flexible policy was enacted.'"

“Professor Rockmann says his study is not meant to be a wholesale condemnation of telecommuting, which, after all, has made a sizable contribution to work-life balance. Rather, it is a call for companies to consider its effect not just on the people who work from home, but on the whole team.”

The New York Times, January 2, 2016: “Telecommuting Can Make the Office a Lonely Place, a Study Says,” by Phyllis Korkki

Academy of Management, September 16, 2015: “Contagion of off-site work drains the company office of its value and appeal, new study finds” 

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Women Need More Self-Confidence in the Workplace

In the Western World

When it comes to self-esteem “a recent paper published in December in the Journal of Personality and Social Psychology confirms that there is a difference between the genders, as men tend to have a higher self-esteem than women, especially during the teenage years and early adulthood. Interestingly, the gender gap appears a lot more marked in Western countries. ‘Individualistic, prosperous, egalitarian, developed nations with higher gender equality had larger gender gaps in self-esteem than collectivist, poorer, developing nations with greater gender inequality,’ [said] Wiebke Bleidorn, professor at the University of California, Davis and the lead author of the study.“

“Wiebke and her colleagues have represented the findings of their research in an interactive map showing the gap between male and female self-esteem. While in many countries the difference tends to move down the scale (from blue to pink), all the countries where the gap between men and women is smaller are concentrated outside the Western world ....”

World Economic Forum, January 7, 2016: “Where are men far more self-confident than women? The answer might surprise you,” by Annalisa Merelli

In Silicon Valley

“There is a distinct dress code for men in Silicon Valley, thanks in part to the iconic Mark Zuckerberg hoodie. For the women of Silicon Valley, however, the dress code is less clear.”

“The fact that a distinct style for women hasn’t emerged is a reflection of their place in the ecosystem -- ambiguous. In a network where culture fit is especially important, adapting to social norms is integral to success.”

“[However r]esearch from Harvard Business School has found that nonconformity signals increased status. Yahoo CEO Marissa Mayer has become the most visible arbiter of female fashion in Silicon Valley. Her decision to pose for Vogue … was refreshing; she affirmed the links between personal style and power.”

“But many women in tech aren’t afforded the same opportunity. [And m]any women in Silicon Valley simply don’t want to talk about fashion, likely for fear that it will detract from their professional achievements.”

“In 2013, Diana Tkhamadokova ... launched the fashion app I Style Myself. As part of her research she spent several months in Silicon Valley, where she is now based, observing what women wore. She told Quartz: ‘If you look at the women in Silicon Valley, I’ve never seen less confident women. They think they need to look a certain way. Compared to UK, French, Italian women, there’s such a stark contrast.’ Thkamadokova explains that in Europe especially, women dress more boldly as a symbol of self-expression and power. She has yet to come across that same level of confidence in Silicon Valley.”

Quartz, January 6, 2016: “The subtle sexism of hoodies: Women in Silicon Valley have no idea what to wear to work,” by Aimee Groth

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Does Lean Improve Labour Standards?

“This study tests the hypothesis that lean manufacturing improves the social performance of manufacturers in emerging markets. We analyze an intervention by Nike Inc. to promote the adoption of lean manufacturing in its apparel supply chain across eleven developing countries. Using difference-in-differences estimates from a panel of over three hundred factories, we find that lean adoption was associated with a 15 percentage point reduction in noncompliance with labor standards that primarily reject factory wage and work hour practices. However, we find a null effect on factory health and safety standards. This pattern is consistent with a causal mechanism that links lean to improved social performance through changes in labor relations, rather than improved management systems. These findings offer evidence that capability-building interventions may reduce social harm in global supply chains."

Does Lean Improve Labor Standards? Management and Social Performance in the Nike Supply Chain, August 29, 2015: by Greg Distelhorst, Jens Hainmueller and Richard M. Locke (45 pages, PDF) also forthcoming in Management Science

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Price We Pay for Tax Havens

“The Price We Pay is inspired by Brigitte Alepin’s book La Crise fiscale qui vient. Director Harold Crooks (who co-directed Surviving Progress with Mathieu Roy) blows the lid off the dirty world of corporate malfeasance with this incendiary documentary about the dark history and dire present-day reality of big-business tax avoidance, which has seen   multinationals depriving governments of trillions of dollars in tax revenues by harboring profits in offshore havens. Tax havens, originally created by London bankers in the 50s, today put over half the world’s stock of money beyond reach of public treasuries.”

“Nation states are being reshaped by this offshoring of the world’s wealth. Tax avoidance by big corporations and the wealthy -- citizens of nowhere for tax purposes -- is paving the way to historic levels of inequality and placing the  tax burden on the middle class and the poor. Crusading journalists, tax justice campaigners and former finance and  technology industry insiders speak frankly about the accelerating trends that are carrying the Western world to an unsustainable future.”

The Price We Pay [website]

“A vivid new documentary, The Price We Pay, connects tax havens, inequality, and insufficient regulation of financial transactions. The film makes a provocative argument that a new economic elite -- wealthy managers and holders of capital -- is now able to operate on a global scale, outside the constraints of any legal framework. In a particularly chilling moment, it shows one of the beneficiaries of the system cheerfully announcing on camera: ‘I don’t feel any remorse about not paying taxes. I think it’s a marvelous way in life.’”

“Gabriel Zucman, who teaches at the University of California at Berkeley, has two goals in his new book, The Hidden Wealth of Nations: to specify the costs of tax havens, and to figure out how to reduce those costs. While much of his analysis is technical, he writes with moral passion, even outrage; he sees tax havens as a ‘scourge.’ His figures are arresting. About 8 percent of the world’s wealth, or $7.6 trillion, is held in tax havens. In 2015, Switzerland alone held $2.3 trillion in foreign wealth. As a result of fraud from unreported foreign accounts, governments around the world lose about $200 billion in tax revenue each year. Most of this amount comes from the evasion of taxes on investment income, but a significant chunk comes from fraud on inheritances. In the United States, the annual tax loss is $35 billion; in Europe, it is $78 billion. In African nations, it is $14 billion.”

“A strong virtue of Zucman’s book is that it puts a bright spotlight on an area in which significant reforms might appeal to people who otherwise disagree on a great deal. You might believe that the tax system should be made more progressive, or you might believe that it should be made less so. But whatever you think, you are unlikely to support a situation in which trillions of dollars are hardly taxed at all.”

The New York Review of Books, January 14, 2016: “Parking the Big Money,” by Cass R. Sunstein

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Books of the Week

The Hidden Wealth of Nations: the Scourge of Tax Havens, by Gabriel Zucman, translated by Teresa Lavender Fagan, with a foreword by Thomas Piketty. Chicago: The University of Chicago Press, 2015

From the publisher: "We are well aware of the rise of the 1% as the rapid growth of economic inequality has put the majority of the world's wealth in the pockets of fewer and fewer. One much-discussed solution to this imbalance is to significantly increase the rate at which we tax the wealthy. But with an enormous amount of the world’s wealth hidden in tax havens ... this wealth cannot be fully accounted for and taxed fairly. Gabriel Zucman is the first economist to offer reliable insight into the actual extent of the world's money held in tax havens. In The Hidden Wealth of Nations he offers an ambitious agenda for reform, focused on ways in which countries can change the incentives of tax havens. Only by first understanding the enormity of the secret wealth can we begin to estimate the kind of actions that would force tax havens to give up their practices. In this concise book, he lays out in approachable language how the international banking system works and the dangerous extent to which the large-scale evasion of taxes is undermining the global market as a whole."

 

The Price We Pay: How Offshore Havens Are Silently Killing Our Middle Class [DVD], written by Harold Brooks, Brigitte Alepin ; directed by Harold Crooks. Montreal: TVA Films, 2015. (93 min.)

From the publisher: "Director Harold Crooks (Surviving Progress) blows the lid off the dirty world of corporate malfeasance with this incendiary documentary about the dark history and dire present-day reality of big-business tax avoidance, which has seen multinationals depriving goverments of trillions of dollars in tax revenues by harbouring profits in offshore havens. Over half the world's stock of money is now beyond reach of public treasuries. Nation states are being reshaped. Tax avoidance by the wealthy is paving the way to historic levels of inequality and placing the tax burden on the middle class and the poor. Crusading journalists, tax justice campaigners and former finance and technology insiders speak frankly about the accelerating trends that are carrying the world to an unsustainable future."

 

 

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