Secrecy and Consensus: The Governmentality of an Offshore Financial Center in Europe

Inspired by Michel Foucault's interrogation of the practices, logic, and technologies of governance – which form what he calls "governmentality" – this dissertation argues that Luxembourg's banking-secrecy laws and domestic political consensus have led to the dramatic growth of the country's offshore financial center since the 1960s. Secrecy and consensus – central aspects of what I formulate as "offshore governmentality" – characterize the strategies of Luxembourg's state and finance elites as they develop new markets, navigate changing political circumstances, and mitigate risks posed to the... Mehr ...