THE HIDDEN GLOBE

Sharply observed descent into the labyrinth of finance and semantics with which nations and the superrich secure their wealth.

Abrahamian unravels the opaque world of “special economic zones” and other places she terms “legal fictions,” where national and economic boundaries are blurred. She examines “how consultants, lawyers, financiers, and other mercenaries have carved out physical and virtual space above, below, and between nations.” Her research entailed travel to places that “are a product of colonialism, capitalism, technology, megalomania, and a pinch of alchemy,” including remote regions of Laos (economically co-opted by China) and an “open” Norwegian settlement near the North Pole. Other areas she investigates are the wide use in shipping of deceptive flags of convenience and likely future struggles over asteroid mining and ownership of space. Her focus begins appropriately with Geneva, where she grew up, termed a “City of Holes” for its legendary discretion, “a kind of black hole straddling globalization and regulation," forever marked by the “steep moral cost” of its financial complicity with the Nazis during World War II. She describes the Geneva Freeport warehouse as an example of actual physical spaces not fully subject to state controls, “essentially a legal hack” with a clear role in hiding artworks for the rich to evade taxes. Other chapters examine how Western financial interests promoted “free-trade zones” in remote nations like Mauritius, noting, “This made it profitable for American firms to seek out manufacturing opportunities abroad rather than making products in the U.S., where labor cost more.” Abrahamian also considers trendy concepts like “charter cities,” noting, “To cede this territory to rigidly ideological capitalists alone would be a big mistake.” Her well-researched, engrossing work manages the minutiae of several fields, including telecommunications, maritime law, and fine art, to stitch together a multilayered tale of how privilege works to protect itself.

Important documentation of how mechanisms favored by the 1 percent increase global inequalities.