On Wed, 29 Oct 1997, David Wood wrote:
> Thanks to Adam Tickell for setting things straight on the Tobin tax, before
> forum members raced into a discussion based on faulty premises!
Well, no. The Tobin Tax, whatever the original limited proposal may have
been, is now used as a label for any form of global transaction tax, not
simply on currency transactions. And the recurring instability on stock
markets is used by its supporters as an argument for its introduction. If
politics were so simple that I could remove these claims by simply
stating that these supporters had strayed from Tobin's original
(abstract) concept, then there would be no problem. Unfortunately, people
with their eyes on $250 000 000 000 a year, are not deterred by academic
precision.
pt
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