Tax heavens like law breakers may have critical roles in a stable system allowing it to adapt. But one can not let them run the show as a whole. International

Tax heavens like law breakers may have critical roles in a stable system allowing it to adapt. But one can not let them run the show as a whole. International trade is not a new problem. Car manufacturing has been internationally for a while. Rules for transfer pricing have been established. The challenge is with this construct of intellectual property where arbitrary valuations disconnected from any underlying real trade are easier to get away with. It used to matter less. It matters more now and tax innovations are getting more scrutinized.