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crossposted from Economic Populist.

As I was saying over there it seems like a time limited Tobin Tax to prevent capital flight may be in order.  A 5-10% tax on capital transfers out of countries could prevent a great many bank runs.

And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg

by ManfromMiddletown (manfrommiddletown at lycos dot com) on Thu Oct 2nd, 2008 at 02:32:57 PM EST
like a time limited Tobin Tax to prevent capital flight may be in order
5-10% seem a bit high for the long run, but why time limit?
I think a Tobin tax may be among the best things, which can be done to reduce the likelyhood of future bubbles.

Der Amerikaner ist die Orchidee unter den Menschen
Volker Pispers
by Martin (weiser.mensch(at)googlemail.com) on Thu Oct 2nd, 2008 at 02:59:45 PM EST
[ Parent ]
The time limit is thinking that it has to be really high to work in the short term.

In Europe the problem with a Tobin tax is that the Commission will take it out.  What's needed in the EU is European regulation, not national regulation.  

And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg

by ManfromMiddletown (manfrommiddletown at lycos dot com) on Thu Oct 2nd, 2008 at 03:17:55 PM EST
[ Parent ]

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