Markets in Vice, Markets in Virtue: John Braithwaite
Review
“This is a lively book, full of insights and provocative ideas about regulation…It works at many levels: as empirical study of tax avoidance and regulation, as illustration of sophisticated application of social science theory, and as a vehicle for new theoretical ideas about regulation.”–Bill Martin, Flinders University, Adelaide, for Contemporary Sociology
“With characteristic style and ebullience, John Braithwaite cuts through the complexities of tax avoidance, and drawing on extensive practical knowledge offers four key strategies for flipping ‘markets in vice’ into ‘markets in virtue’. This highly readable book will be of interest both to tax specialists and to those concerned about the effectiveness of regulation, but who never thought that tax could be interesting. In Braithwaite’s hands, it is.”–Julia Black, Reader in Law, London School of Economics
“This outstanding book draws on a wide range of interviews to offer a compelling depiction of the growth of the tax shelter industry in both Australia and the United States, and of the ways it might effectively be combatted by sophisticated regulators. It should be required reading for anybody interested in the tax shelter problem and, more broadly, the problem of how contemporary competition is creating markets in vice and how they may be turned into markets in virtue.”–Professor Reuven Avi-Yonah, University of Michigan
“Written in John Braithwaite’s engagingly direct style, this book casts a bright light on some of the arcane practices that underlie one of the most crucial issues of the 21st century: whether tax systems can continue to provide funding for public services in ways that can be accepted as fair and just. Its penetrating analyses and practical proposals should be read not only by tax advisers and officials but by every concerned citizen.”–Prof. Sol Picciotto, Lancaster University Law School
“Professor John Braithwaite, probably Australia’s most internationally renowned social scientist has written an original, sparkling, readable analysis that opens our eyes to aggressive tax avoidance behaviour in the United States and Australia, and the only partly successful regulatory attempts to deal with it.”–Professor Allan Fels, AO Foundation Dean, The Australia and New Zealand School of Government
“This is a lively book, full of insights and provocative ideas about regulation…It works at many levels: as empirical study of tax avoidance and regulation, as illustration of sophisticated application of social science theory, and as a vehicle for new theoretical ideas about regulation.”–Bill Martin, Flinders University, Adelaide, for Contemporary Sociology
Could competition policy be driving increases in overeating, gambling, aggressive tax planning and sex crimes? A leading specialist in business regulation and white collar crime says it does. John Braithwaite argues that the competition policies that attack monopolies to ensure vigorous price competition and more efficient production of goods also drive more efficient productions of “bads”. Braithwaite argues that there are markets in vice as well as markets in virtue, with the same characteristic supply and demand. Using a detailed case study of taxation in Australia and the United States, Braithwaite demonstrates the mechanisms whereby competition induces demand for vice and more importantly, the regulatory interventions that can be used to flip markets in vice to markets in virtue.
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