Thursday, September 24, 2009
After watching this video you may wonder why they could not agree on a very simple thing: a tax on financial transactions called Tobin Tax. The debate is open here and here but nobody could really tell why it is not being implemented. Everybody says it needs to be global to avoid free riders but nobody really pushes for it.
I still contend that it's just a matter of political willingness not economics nor efficiency nor competitiveness of financial markets. After the destruction of wealth and money losses of the financial crisis, particularly by financial institutions, economists and politicians should have better arguments not to implement a Tobin Tax.