HOW DO WE PROMOTE A MORE EQUITABLE, SUSTAINABLE, & STABLE WORLD ECONOMY?
This dimension of world federalism deals with reforms to central international economic institutions such as the International Monetary Fund, World Bank, World Trade Organization, and Economic and Social Council along with other UN-directed projects and efforts.
Nobel-laureate economist James Tobin proposed a tax on international currency transactions at a small fraction of one percent in order to make exchange rates more stable. His proposal came to be known as the ‘Tobin tax’, leading to many variations over the following years in the form of currency transaction taxes, financial transaction taxes, and financial activity taxes. In addition to the benefit of reducing the economic effects of incidents like the global financial crisis of 2008 by disincentivizing hyper-speculative trading, the proceeds of the tax are estimated to amount to at least 20 times the current UN budget. Interested mainly in the stability benefits of a Tobin tax, when asked how its proceeds could be directed, the economist simply replied: “Give it to the UN”.
By Eston McKeague Eston McKeague is the President of the Young World Federalists I got involved with the Young World Federalists (YWF) in August 2020. By proxy, I got involved...
A federal election has been called for September 20th. During federal campaigns, WFMC surveys the federal political parties about their positions on specific areas of interest to World Federalists. The...
The Economics of Kindness: A Ten-Year Transition to a New Ecological Civilization September 15 20217pm EDT As part of a series of World Federalist discussions on better global governance, Toronto...
Volunteer, donate, or become a member and join the conversation.
Get Involved