The hypocrisy of the OECD, pt. 2
“Sometimes economists in official positions give bad advice; sometimes they give very, very bad advice and sometimes they work at the OECD.” — Paul Krugman
Two weeks ago, in part one of this series, we observed that, since 2000, The Bahamas government has enacted numerous pieces of legislation that have seriously, if not irreparably, eroded our offshore financial services sector. Those developments represent a prolonged and sustained assault by the Organization for Economic Cooperation and Development (OECD) on our sovereignty and our way of life.
Armed with OECD-inspired and directed legislation, those initiatives are justified in parliamentary debate that is often full of sound and fury, replete with veiled platitudes and gratuitous accolades about how the government of the day effectively staved off The Bahamas’ inclusion on the OECD’s infamous blacklist.