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Globalization, Inequality, Say’s Law, and Fiscal Globalism

机译:全球化,不平等,说法律和财政全球化

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This is a brief note maintaining that financial globalization has been faster than the integration of the remaining sectors of the world economy, thus encouraging wealth inequality, under-production, and under-consumption in line with Say’s Law. Financial investment has become more profitable than real investment, discouraging production ventures, and weakening labor’s relative income position and purchasing power. Moreover, this article works out a model of international government indirect tax competition as a policy means against increasing inequality. The mentality under which this tax policy paradigm is put forward is that the competition of nation states in a fiscal globalism fashion crystallizes the optimal level of centralization under globalism; optimal, that is, from the viewpoint of safeguarding against the manipulation of world markets by financiers.
机译:这是一条简短的注释,指出金融全球化的速度要快于世界经济其他部门的整合,从而加剧了财富不平等,生产不足和消费不足的现象,这符合萨伊定律。金融投资已变得比实际投资更有利可图,这使生产企业望而却步,并削弱了劳动者的相对收入状况和购买力。此外,本文提出了一种国际政府间接税收竞争的模型,以此作为防止不平等加剧的政策手段。提出这种税收政策范式的心态是,民族国家之间的竞争以财政全球化的方式使全球化集中化的最佳水平得以具体化。从防范金融家操纵世界市场的角度来看,这是最佳的。

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