Re: A Financial Tax with a different objective

["Harry Veeder" <eo200@xxxxxxxxxxxxxxxxxxx>]

There is actually a need for a financial transaction tax AND a new financial
architecture. I realize that some PKers have a hard time embracing both
possibilities because a) they feel such a tax will divert attention from
their new financial architecture agenda and b) Keynes's GT offers no
theoretical justification for such a tax, so they are inclined to see
it as little more than a "cash cow" for governments.

My call for a new objective for a financial transaction tax carries with it
a call for a new macroeconomics which will absorb key Keynesian concepts
but will also involve new concepts. So as not confuse such a tax, with the
objective of a Tobin Tax, a new name is required. I suggest we
call it the Future Tax.


Harry



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>From: "Henry C.K. Liu" <hliu@xxxxxxxxxxxxxx>
>To: pkt@xxxxxxxxxxxxxxxx
>Subject: Re: A Financial Tax with a different objective
>Date: Sat, Sep 29, 2001, 1:56 AM
>

>Globally, there is an urgent need for a new international financial architecture.