Tobin Tax
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High Quality Content by WIKIPEDIA articles! A Tobin tax is an eponym which was initially associated with the suggested tax on all trade of currency across borders. Named after the economist James Tobin, the tax is intended to put a penalty on short-term speculation in currencies. This "currency transaction tax," first proposed in 1973, is more specific than the general "financial transaction tax" previously proposed by John Maynard Keynes in 1936. Despite the fact that Tobin's work included many ideas not related specifically to currency alone, nevertheless society has come to associate the "T...
High Quality Content by WIKIPEDIA articles! A Tobin tax is an eponym which was initially associated with the suggested tax on all trade of currency across borders. Named after the economist James Tobin, the tax is intended to put a penalty on short-term speculation in currencies. This "currency transaction tax," first proposed in 1973, is more specific than the general "financial transaction tax" previously proposed by John Maynard Keynes in 1936. Despite the fact that Tobin's work included many ideas not related specifically to currency alone, nevertheless society has come to associate the "Tobin tax" with a "currency transaction tax." As Dr Stephen Spratt writes, "For many observers, a Currency Transaction Tax (CTT) is related to the work of Nobel Laureate James Tobin. The Tobin Tax, as it came to be known, was first proposed in 1973 with the aim of discouraging speculation in the FX markets, and therefore reducing volatility."
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