The Tobin tax revisited

Research output: Book/ReportOther report

Abstract

The idea that governments necessarily have a critical role in economy and society is again plain since the global financial crisis. For 30 years, the democracies said that they were ineffectual in coordinating economic life, and markets were perfect for this political role. The report provides a corrective to the attendant policies based on these views, by using the Tobin tax, a proposal once again in the news, as an illustration. Through an interpretation of the ideal and less than ideal relations between governments and the financial sector, it assesses the Tobin tax. Criteria about its feasibility and desirability are drawn from this broader framework about the purposes of banks and their role in society. A Tobin tax on global financial transactions is a very modest reform, so modest that the vehement opposition by the financial sector could also be subject to interpretation.
Original languageEnglish
Place of PublicationLondon
PublisherLondon Metropolitan University
Publication statusPublished - 2010

Publication series

NamePolicy report
PublisherLondon Metropolitan University

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    Pixley, J. (2010). The Tobin tax revisited. (Policy report). London: London Metropolitan University.