TOBIN-TAX

TOBIN, JAMES.

The New Economics One Decade Older.

Princeton, Princeton University Press, 1974. 8vo. In publisher's original full cloth with gilt lettering to spine in the original (price-clipped) dust-jacket. Vague stamp ("$5.45") to half title. A very fine and clean copy. (10), 105, (1) pp.

First edition of perhaps the most controversial and debated treatise on taxation in the 20th century: The Tobin-Tax, a tax on all spot conversions of one currency into another designed to reduce speculation in the international currency markets, which he saw as dangerous and unproductive.

In August 2009 in a roundtable interview in Prospect magazine, Adair Turner supported the idea of new global taxes on financial transactions, warning that the "swollen" financial sector paying excessive salaries had grown too big for society. Lord Turner's suggestion that a "Tobin tax" - named after James Tobin - should be considered for financial transactions made headlines around the world.

In 1981 was awarded to James Tobin "for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices".

In honor of Eliot Janeway's contributions as an economic historian, Princeton University endowed the Eliot Janeway lectures on historical economics. The present lecture was given in 1972 but was not published until 1974.

Order-nr.: 53281