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The Many Lives of the Tobin Tax

Posted on 15 December 2009 by editor

ActionAid protesters in Copenhagen. Credit: IPS/TerraViva

ActionAid protesters in Copenhagen. Credit: IPS/TerraViva

Julio Godoy* – Tierramérica**

BERLIN (IPS/TerraViva) In the decades since 1972, when Nobel laureate economist James Tobin (1918-2002) first proposed it, the idea of a tax on currency speculation has resurfaced and disappeared many times, according to the economic tides.

Now, the global economic crisis that resulted from real estate and stock speculation in the United States and other industrialised countries, and the need to pay for the high costs of fighting climate change, have created an ideal context for implementing the tax. Continue Reading

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