City of London
The City of London, roughly a square mile of financial district in London proper, is an actual, existing charter city. Business voters vastly outnumber residents and roughly 400,000 workers commute in and out. It is the center of a worldwide web of tax avoidance and crony capitalism, and the real reason why libertarian ideas of charter cities will fail: they cannot compete.
- Money Laundering and the City of London’s “Crime Scene”: Haven of Tax Havens for the Mega-Wealthy [More...]
- "When it comes to The City of London, the term ‘tax haven’ is not describing all that it should. It doesn’t just shield the mega-wealthy from paying their fair dues it goes further and offers a departure from the rule of law as you would know it. Secrecy is its raison d’être. These secrecy laws do not benefit the local people living in its jurisdiction but only those individuals and corporations with enough money and with something to hide."
- The City of London Corporation: the state within a state [More...]
- "And the chances of the UK government taking active steps to rein in the City's powers and privileges are also close to zero, since this government and its predecessors, have been almost wholly captive to the interests of financial capitalism."
- The tax haven in the heart of Britain [More...]
- "The corporation is an ancient, semi-alien entity lodged inside the British nation state; a "prehistoric monster which had mysteriously survived into the modern world", as a 19th-century would-be City reformer put it. The words remain apt today. Few people care that London has a mayor and a lord mayor - but they should: the corporation is an offshore island inside Britain, a tax haven in its own right."
To suggest social action for the public good to the City of London is like discussing the Origin of Species with a bishop sixty years ago. The first reaction is not intellectual, but moral. An orthodoxy is in question, and the more persuasive the arguments the graver the offence.
John Maynard Keynes, "The end of laissez-faire"