Spiderweb Capitalism: How Global Elites Exploit Frontier Markets
The Department of Sociology is excited to host Dr. Kimberley Kay Hoang on January 9 for our 2023-24 Distinguished Speaker Series.
Dr. Hoang, Professor of Sociology at the University of Chicago, will present a lecture titled “Spiderweb Capitalism: How Global Elites Exploit Frontier Markets.”
Note: Due to the sensitive nature of Dr. Hoang’s talk material, this lecture will not have a Zoom component and will not be recorded.
ABSTRACT
Dr. Kimberly Kay Hoang
In 2015, the anonymous leak of the Panama Papers brought to light millions of financial and legal documents exposing how the superrich hide their money using complex webs of offshore vehicles. Spiderweb Capitalism takes you inside this shadow economy, uncovering the mechanics behind the invisible, mundane networks of lawyers, accountants, company secretaries, and fixers who facilitate the illicit movement of wealth across borders and around the globe.
Drawing on hundreds of in-depth interviews with private wealth managers, fund managers, entrepreneurs, C-suite executives, bankers, auditors, and other financial professionals, I trace the flow of capital from offshore funds in places like the Cayman Islands, Samoa, and Panama to special-purpose vehicles and holding companies in Singapore and Hong Kong, and how it finds its way into risky markets onshore in Vietnam and Myanmar. I reveal the strategies behind spiderweb capitalism and examines the moral dilemmas of making money in legal, financial, and political gray zones.
Kimberly Kay Hoang is Professor of Sociology and the College and the Director of Global Studies at the University of Chicago. Her research examines deal making in frontier and emerging economies.
Dr. Hoang is the author of two books. Spiderweb Capitalism: How Global Elites Exploit Frontier Markets (Princeton University Press 2022). This book provides a behind-the-scenes look at how the rich and powerful use offshore shell corporations to conceal their wealth and make themselves richer. Spiderweb Capitalism is the winner of five distinguished book awards from the Association of American Publishers and the American Sociological Association.
She received the 2020 Lewis A Coser Award from the American Sociological Association Section on Sociological Theory— a mid-career award for Theoretical Agenda Setting. Her books and articles have been awarded over 26 prizes from several different professional associations. In addition to her research, she is the winner of the 2018 Llewellyn John and Harriet Manchester Quantrell Teaching at the University of Chicago. Her work has been published in American Sociological Review, Social Problems, Gender & Society, Sociological Theory, City & Community, Contexts, and the Journal of Contemporary Ethnography. Her peer reviewed journal articles have won over 14 prizes and honorable mentions.
Find out more about Dr. Kimberly Kay Hoang here.
ACCESSIBILITY
We strive to host inclusive, accessible events that enable all individuals to engage fully. To be respectful of those with allergies and environmental sensitivities, we ask that you please refrain from wearing strong fragrances. To request an accommodation or for inquiries about accessibility, please contact us through the RSVP form or email us at soci.communications@ubc.ca.