Financial-Transaction Tax: Small Is Beautiful
Based on their contribution to the European Parliament Economic and Monetary Affairs Committee, in this Policy Contribution Resident Fellows Zsolt Darvas and Jakob von WeizsÃ¤cker discuss the merits of the much-discussed financial-transaction tax. They argue that the case for taxing financial transactions for the sake of not raising revenue is relatively weak, but a financial-transaction tax could be useful in limiting socially-undesirable transactions. On this basis, they say, a very small, coordinated tax on financial transactions could be implemented successfully. A revised version of this paper was also published in Society and Economy Volume 33, Number 3/December 2011
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