Monday, February 15, 2010
"Robin Hood Tax" !! What next?
Following on the heels of the "Climate Debt" concept touted at Copenhagen, now there are talks of a "Bank Tax" and even a "Robin Hood Tax," which would be levied on all currency, derivative and other speculative transactions. For about five years I’ve been promoting a similar but more comprehensive idea, "Total Global Reparation." I base it on a "zero sum" argument. Big picture: total wealth equals total damage. The accumulated wealth of the world must be more or less equal to the total damage to the environment (cheap and stolen resources, "externalities" and pollution), plus the total human exploitation from slavery and cheap labor. These large scale sums can be calculated, as can the cost of environmental reclamation and the implementation of global human rights. The concept of reparation for slavery is bold and fair in principle, but impossible to apply, to either the payers or payees. But once the principle sinks in, and a legalistic model for implementation emerges, “total global reparation” can be seen as not only justifiable and feasible, but essential. See the funny video, or my "rant" page on "economediapolitics."