Jump to ContentJump to Main Navigation
Fairness in PracticeA Social Contract for a Global Economy$
Users without a subscription are not able to see the full content.

Aaron James

Print publication date: 2012

Print ISBN-13: 9780199846153

Published to Oxford Scholarship Online: May 2012

DOI: 10.1093/acprof:oso/9780199846153.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see www.oxfordscholarship.com/page/privacy-policy).date: 22 July 2019

Financial Crises

Financial Crises

Chapter:
(p.249) Chapter Eight Financial Crises
Source:
Fairness in Practice
Author(s):

Aaron James

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199846153.003.0008

This chapter argues for aggressive securities taxation to curb short-term, speculative capital flows that partly cause financial crises. Much as with any potentially beneficial but highly dangerous activity, short-term speculative markets fairly impose heightened risks of financial crises only if they can be embedded within institutions that reliably compensate for the harm that crises do. Because reliable compensatory institutions are not established and in any case are arguably beyond the regulatory powers of governments, the dangerous activity must in fairness be curbed, even at great economic opportunity costs.

Keywords:   Tobin tax, capital controls, harm, compensation, risk imposition, risk assumption, reciprocity of risk

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .