Richard Murphy
Professor of Practice in International Political Economy, City University London
Richard is a renowned tax justice campaigner and author, focusing on international taxation and corporate responsibility.
Global Business / Economy
Is Spain's Housing Crisis a Failure of Policy — or the Predictable Result of Treating Homes as Investment Assets?With over 30% of Spaniards spending more than 40% of their income on housing, the question isn't just why rents are so high — it's whether decades of treating homes as investment assets made this crisis inevitable. Richard Murphy, Jose Luis Casero, and Ana María Sánchez debate policy failure versus predictable market logic.
Credit & Personal Finance
Is the Global Push for a 15% Minimum Corporate Tax Actually Working — or Did Multinationals Adapt Faster Than the Regulation Expected?The global 15% corporate minimum tax is working—but not in the simple way its architects originally imagined. Pillar Two has moved from an international agreement into actual tax administration, and early evidence suggests that multinational enterprises are responding by changing effective tax rates and, in some cases, their behavior. But that does not mean governments have eliminated tax competition or profit shifting. The rules contain carve-outs, safe harbors, complex implementation requirements, and significant differences between jurisdictions. The more accurate question is therefore not “Did the 15% minimum tax stop multinational tax avoidance?” but “How much tax competition did it actually eliminate—and who is collecting the additional revenue?” The answer is emerging, and the first post-implementation evidence is considerably more interesting than either the optimistic or the skeptical narrative.