Some are famous (Lawrence of Arabia and Gertrude Bell); others infamous (Harry St. John Philby, father of Kim); some forgotten (Sir Mark Sykes, Israel's godfather, and A. T. Wilson, the territorial creator of Iraq); some controversial (the CIA's Miles Copeland and the Pentagon's Paul Wolfowitz). All helped enthrone rulers in a region whose very name is an Anglo-American invention. As a bonus, we meet the British Empire's power couple, Lord and Lady Lugard (Flora Shaw): she named Nigeria, he ruled it; she used the power of the Times of London to attempt a regime change in the gold-rich Transvaal. The narrative is character-driven, and the aim is to restore to life the colorful figures who for good or ill gave us the Middle East in which Americans are enmeshed today.

    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—in countries like Switzerland, Luxembourg, and the Cayman Islands—this wealth cannot be fully accounted for and taxed fairly. No one, from economists to bankers to politicians, has been able to quantify exactly how much of the world’s assets are currently hidden—until now. Gabriel Zucman is the first economist to offer reliable insight into the actual extent of the world’s money held in tax havens. And it’s staggering. In The Hidden Wealth of Nations, Zucman offers an inventive and sophisticated approach to quantifying how big the problem is, how tax havens work and are organized, and how we can begin to approach a solution. His research reveals that tax havens are a quickly growing danger to the world economy. In the past five years, the amount of wealth in tax havens has increased over 25%—there has never been as much money held offshore as there is today. This hidden wealth accounts for at least $7.6 trillion, equivalent to 8% of the global financial assets of households. Fighting the notion that any attempts to vanquish tax havens are futile, since some countries will always offer more advantageous tax rates than others, as well the counter-argument that since the financial crisis tax havens have disappeared, Zucman shows how both sides are actually very wrong. 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. Zucman’s work has quickly become the gold standard for quantifying the amount of the world’s assets held in havens. 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. If we are to find a way to solve the problem of increasing inequality, The Hidden Wealth of Nations is essential reading.

    The author evaluates the casualties of the war on terror in this story of pre-emptive imprisonment for an act of terrorism never committed, of a terrorist cell that may not even have been a cell.