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The Architecture of Illegal MarketsTowards an Economic Sociology of Illegality in the Economy$
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Jens Beckert and Matías Dewey

Print publication date: 2017

Print ISBN-13: 9780198794974

Published to Oxford Scholarship Online: August 2017

DOI: 10.1093/oso/9780198794974.001.0001

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Futurity, Offshore, and the International Political Economy of Crime

Futurity, Offshore, and the International Political Economy of Crime

Chapter:
(p.108) 6 Futurity, Offshore, and the International Political Economy of Crime
Source:
The Architecture of Illegal Markets
Author(s):

Ronen Palan

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198794974.003.0006

Capitalist economies consist of co-habiting economies, an economy of exchange of goods and services, or the “economy of the present.” This economy is dwarfed by an “economy of the future” that trades in anticipated future earnings and income streams. However profitable, the organized criminal world operates largely in the economy of the present and caught in the slow lanes of the modern economy. But as many criminal organizations are run by savvy businessmen, they seek to access the economy of futurity by “laundering” not only money, but the very organizations they operate. The ease of incorporation and the opacity provided by offshore secrecy jurisdictions allow criminal organizations to appear to be legitimate businesses and thus to access the realm of futurity.

Keywords:   offshore, futurity, evolutionary, tax havens, money laundering

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