Businesses Like Apple Need Politicians Who Can Stand Up To Them

While competition between governments on tax rates may benefit a few firms in the short term, over time it undermines the ability of states and markets to function well. In my book, Healing Capitalism, I showed how there are strong arguments for business leaders themselves to back international collaboration to improve regulation, so that they don’t compete in ways that back fire on themselves. Unfortunately, this enlightened self-interest has dwindled in comparison to the temptation of short-term hikes in profits from creative accounting.

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