350 economists call for a financial transaction tax

by Robin Hood

Posted in: Debate & analysis, In the news and on the web

This is the complete text of a letter calling for a financial transaction tax. It is signed by 350 economists from dozens of countries, including two Nobel laureates.  The letter was discussed by Sean O’Grady in today’s Independent Newspaper.

Dear G20

As economists from across the world, we call on you to implement a financial transaction tax (FTT).

This tax is an idea that has come of age. The financial crisis has shown us the dangers of unregulated finance, and the link between the financial sector and society has been broken. It is time to fix this link and for the financial sector to give something back to society.

Even at very low rates of 0.05% or less, this tax could raise hundreds of billions of dollars annually and calm excessive speculation. The UK already levies a tax on sharetransactions of 0.5%, or ten times this rate, without unduly impacting on the competitiveness of the City of London.

This money is urgently needed. The crises of poverty and of climate change require an historic transfer of billions of dollars from the rich world to the poor world, and this tax would offer a clear way to help fund this.

Given the automation of payments, this tax is technically feasible. It is morally right. We call on you to implement it as a matter of urgency.

Yours.

Guillermo Cruces – Argentina
Researcher at CEDLAS-UNLP and CONICET, Argentina
Prof Dario Rossignolo – Argentina
Professor of Macroeconomics, University of Buenos Aires
Adrian Salbuchi – Argentina
Dr Trish Hill – Australia
Research Fellow, Social Policy Research Centre, University of New South Wales,
Prof Andrew McLennan – Australia
Professor of Economics, University of Queensland
Prof John Quiggin – Australia
Australian Research Council Federation Fellow
Dr Colin Richardson – Australia
Overseas Consultant, Social Computing Group, Imperial College London
Prof. Wilfried Alzinger – Austria
Department of Economics, Vienna University of Economics
Dr Rainer Bartel – Austria
Professor of Economics, Kepler University
Kurt Bayer – Austria
Board Director European Bank for Reconstruction and Development
Dr Gerhard Burda – Austria
PhD, University of Vienna (Mag.oec.)
Ass. Prof Michael Hauser – Austria
Associate Professor Vienna University of Economics
Prof. Kazimierz Laski – Austria
Senior research assistant and former director of research, The Vienna Institute for International Economic Studies
Prof. Kunibert Raffer – Austria
Professor of Economics, University of Vienna
Stephan Schulmeister – Austria
Senior Research Fellow, Vienna Institute for Economic Research
Martin Schürz – Austria
Head of Monetary Unit, Economic Analysis Division, Austrian National Bank
Prof Herbert Walther – Austria
Vienna University of Economics and Business
Prof V Eudine Barriteau – Barbados
Professor of Gender and Public Policy, University of West Indies
Prof. Ludo Cuyvers – Belgium
University of Antwerp
Angelo Realti – Belgium
Former Official of the European Commission
Prof Fransico Luiz Lopreato – Brazil
Economist at University of Campinas
Prof Andre Lourenço – Brazil
Brazilian Economist
Prof Gabriel Porcile – Brazil
Department of Economics, Federal University of Parana
Ass Prof Abdella Abdou – Canada
Department of Economics, Brandon University, Manitoba
Dr. C.P. Barrington – Leigh – Canada
Canadian Institute for Advanced Research
Dr Mustapha Ibn Boamah – Canada
Assistant Professor of Economics, University of New Brunswick
Prof. Robert Chernomas – Canada
Professor, Department of EconomicsUniversity of Manitoba
Mel Cross – Canada
President, Atlantic Canada Economics association
Prof. Henryk Flakierski – Canada
Professor of Economics and Social Science (emeritus), York University, Toronto
Alan Freeman – Canada
Chairman of the Association of Heterodox Economists, University of Manitoba
Dr. Ricardo Grinspun – Canada
Professor of Economics, York University, Toronto
Prof. Terry Heaps – Canada
Professor, retired, Department of Economics, Simon Fraser University, British Columbia
Prof. Gerry Helleiner – Canada
Professor Emeritus, Department of Economics, Distinguished Research Fellow, Munk Centre for International Studies, University of Toronto
Prof. Roderick Hill – Canada
Economics Faculty, University of New Brunswick Saint John
Andrew Jackson – Canada
Chief Economist, Canadian Labour Congress , Canadian Centre for Policy Alternatives; School of Policy Studies, Queen’s University
Dr Kim Jarvi – Canada
Senior Economist, Registered Nurses’ Association of Ontario
Prof. Sir Richard Jolly – Canada
Honorary Professor and Research Associate, co-director of the UN Intellectual History Project, former Assistant Secretary General of the UN
Stephen M Law – Canada
Ex-president, Atlantic Canada Economics Association, Canada
Prof. Louis Lefeber – Canada
Professor of Economics, York University
Prof John Loxley – Canada
Professor of Economics, University of Manitoba, Canada
Prof Martha MacDonald – Canada
Professor and Chair, Economics Department, Saint Mary’s University
Prof. Joan McFarland – Canada
Professor of Economics, St. Thomas University
Dr Rob Moir – Canada
Economics Faculty, University of New Brunswick Saint John
Dr Anthony Myatt – Canada
Professor of Economics, University of New Brunswick
Dr Rodney Schmidt – Canada
Principal Researcher, Finance and Growth, North South Institute, Ottawa
Prof Mario Seccareccia – Canada
Professor of Economics, University of Ottawa
Prof Ardeshir Sepehri – Canada
Professor of Economics, University of Manitoba
Ass Prof Paul Shaffer – Canada
Department of International Development Studies, Trent University
Prof. Mel Watkins – Canada
Professor Emeritus of Economics, University of Toronto
Dr Sara Gammage – Chile
Economist based in Chile
Prof Xiao-Yuan Dong – China
Professor of Economics, University of Winnipeg, Canada
Ass Prof Andong Zhu – China
Associate Professor, Tsinghua University, Bejing
Ass. Prof Inge Røpke – Denmark
Associate Professor of Economics, Technical University of Denmark
Alberto Acosta – Ecuador
FLACSO University Quito (former President of the Constitutional Assembly)
Víctor Aguiar - Ecuador
University Teacher in Economics, FLACSO
David Castellanos - Ecuador
Asociación de Bancos Privados del Ecuador
Hugo Jácome – Ecuador
FLACSO University Quito (former Finance Vice-Minister)
Fernando Martín Mayoral - Ecuador
PhD economy program coordinator, FLACSO, Ecuador.
Prof. Freddy Soledispa Lucas - Ecuador
University teacher economics, Universidad Laica Eloy Alfaro de Manabí
Dr Jan Otto Andersson – Finland
Economics Department, Abo Akademi University
Jacques Attali – France
Founder, Planet Finance
Michel Balinski – France
Ecole Polytechnique
Prof. Jean Marie Chevalier – France
Dauphine University of Paris, Director of the CGEMP
Lucie Gadenne – France
Paris School of Economics
Prof. Jean Hervé Lorenzi – France
Professor of Economics at The Dauphine University of Paris, Director of the ‘Cercle des Economistes’
Prof. JP Moatti – France
Special Advisor for International AffairsFrench Agency for AIDS Research (ANRS)
Prof Pascal Petit – France
CNRS Centre of Economics Paris
Prof Alice Sindzingre – France
Economics Lecturer, SOAS and University of Paris-10 and Institute of Political Sciences, Paris
Amadeo Spadaro – France
Director, Public policy Unit, Paris School of Economics
Bruno Tinel – France
University of Paris 1
Prof. Annie Vinokur – France
Emeritus Professor of Economics. University of Paris X
Elmar Altvater – Germany
Freie Universität Berlin
Dr Johannes Bickel – Germany
Prof. Trevor Evans – Germany
Berlin School of Economics and Law
Prof. Peter Flaschel – Germany
Professor of Economics, Bielefeld University
Prof Ulrich Fritsche – Germany
Professor of Economics, University of Hamburg
Prof. Stefan Gosepath – Germany
Professor and Chair of International Political Theory and Philosophy, Goethe University
Prof Eckhard Hein – Germany
Prof of Economics, Berlin School of Economics and Law
Dr Jan-Otmar Hesse – Germany
University of Goettingen
Prof Stephan Klasen – Germany
Prof of Economics, University of Göttingen
Dr Steffen Lehndorff – Germany
University of Duisburg-Essen
Klaus Linsenmeier – Germany
Executive Director, Heinrich Böll Stiftung North America
Prof. Bernd Lucke – Germany
Professor of Economics, University of Hamburg
Dr Achim Truger – Germany
Senior Economist, Macroeconomic Policy Institue at Hans-Boeckler Foundation
Frieder Otto Wolf – Germany
Freie Universität Berlin
Marcia Frangakis – Greece
Nicos Poulantzas Institue
Prof. C.P. Chandrasekhar – India
Centre for Economic Studies & Planning Jawaharlal Nehru University
Dr. Smitha Francis – India
Principal Economist, International Development Economics Associates Secretariat, New Delhi
Prof. Jayati Ghosh – India
Professor of Economics, Jawaharlal Nehru UniversityNew Delhi,
Dr Subrata Guha – India
Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi
Dr Mritiunjoy Mohanty – India
Professor, Economics Group, Indian Institute of Management Calcutta
Prabhat Patnaik – India
Sukhamoy Chakravarty Chair in Planning and Development, Jawaharlal Nehru University
Prof Madhura Swaminathan – India
Prof at India Statistical Institute, Kolkata
Malini Chakravarty – India
Economic Researcher, University of Delhi
Prof Terrence McDonough – Ireland
Department of Economics, National University of Ireland Galway
Dr Efraim Davidi – Israel
Economic and Social History, Tel-Aviv University
Prof Enzo Fabio Arcangeli – Italy
Professor of Economics, University of Verona
Prof Elisabetta Basile – Italy
Professor at University of Rome, La Sapienza
Prof. Francesca Bettio – Italy
Professor of Economics, Department of Economics, University of Siena
Prof Bruna Bordoni – Italy
Department of Economics, University of Bologna
Prof Luigino Bruni – Italy
Associate Prof of Political Economy, University of Milan
Prof Claudio Cecchi – Italy
Professor at University of Rome, La Sapienza
Prof Sergio Cesaratto – Italy
Economics Professor, University of Siena, Italy
Prof. Giovanni Andrea Cornia – Italy
Prof Giovanni Dosi – Italy
Prof of Economics St Anna School of Advanced Studies
Prof Giancarlo Gandolfo – Italy
Professor of International Economics, Sapienza University of Rome
Prof Claudio Gnesutta – Italy
Department of Political Economy, University of Rome
Auturo Hermann – Italy
Senior Researcher
Ass. Prof Pietro Masina – Italy
Associate Professor of International Political Economy,University of Naples
Prof Cosimo Perrotta – Italy
Professor of Economics, University of Salento (Lecce) Italy
Prof. Antonella Picchio – Italy
Professor of Economics, Department of Political Economy
Prof Massimo Ricottilli – Italy
Department of Economics, University of Bologna
Prof Alessandro Vercelli – Italy
Professor of Economics, University of Siena
Prof Stefano Zamagni – Italy
Prof of Political Economy, University of Bologna
Kenji Ago – Japan
Seinan Gakuin University
Atsuski Fujioka – Japan
Ritsumeikan University
Hitoshi Hirakawa – Japan
Nagoya University
Prof. Fumio Kaneko – Japan
Professor Yokohoma City University
Ass. Prof Toru Morotomi – Japan
Associate Professor of Economics, Kyoto University
Prof. Jun Nishikawa – Japan
Professor of Economics, Waseda University
Ass. Prof Takehiko Uemura – Japan
Associate Professor, International College of Arts and Sciences, Yokohama City University
Axfar Khan – Lebanon
Senior Migration Specialist, ILO Regional Office for Arab States
Prof Zafiris Tzannatos – Lebanon
Former Chair and Professor, Economics Department, American University of Beirut
Fransico Aguayo – Mexico
Science, Technology and Development Programme
Prof Rolando Cordera Campos – Mexico
Emeritus Professor in Economics, National Autonmous University of Mexico
Prof Angel de la Vega Navarro – Mexico
Professor of Economics, National Autonomous University of Mexico
Prof Raul Delgado Wise – Mexico
Director of Doctoral Program on Development Stuides, Autonmous University of Zacatecas, Mexico
Prof Enrique Dussel Peters – Mexico
Graduate School of Economics, National Autonomous University of Mexico
Alicia Girón – Mexico
Institute of Economic Research, Mexico
Prof Alejandro Nadal – Mexico
Professor Center for Economic Studies, El Colegio de Mexico
Prof Ignacio Perrotini – Mexico
Professor of Economics, National Autonomous University of Mexico
Ahmed El Bouazzaoui – Morocco
General Secretary of Rawabit Association, Morocco and Tax Researcher
Dr Stefan Kesting – New Zealand
Senior Lecturer above the bar of Economics, Auckland University of Technology
Ass Prof Rune Skarstein – Norway
Economics Department, Norwegian University of Science and Technology
Prof Irena Kotowska – Poland
Head of Demography Centre, Institute of Statistics and Demography
Prof. Tadeusz Kowalik – Poland
Professor of economics and humanities, Polish Academy of Sciences, Warsaw
Prof. Jedrzej Krakowski – Poland
Emeritus Professor of International Economic Relations, University of Silesia, Poland
Prof Jerry Osiatynski - Poland
Professor of Economics, Institue of Economics, Polish Academy of Sciences, Warsaw
Prof Zdzislaw Sadowski – Poland
Professor of Economics, Poland
Prof. Jolanta Supinska – Poland
Professor of social policy, Institute of Social Policy, Warsaw University
Dr Anna Zobkowicz – Poland
Professor of Economics, Jagiellonian University in Cracow, Poland
Prof João Ferreira Amaral – Portugal
ISEG, Lisbon
Prof Pedro Pintassilgo – Portugal
Professor of Economics, University of Algarve
Prof. José Reis – Portugal
Faculty of Economics, University of Coimbra
Dr Uma Kollamparambil – South Africa
Faculty of Economics, University of Witwatersrand, South Africa
Prof Julian May – South Africa
South African Research Chair in Applied Poverty Reduction, School of Development Studies, Durban
Prof Diane McIntyre – South Africa
Professor of Health Economics, Department of Public Health, University of Cape Town
Prof Vishnu Padayachee – South Africa
Senior Professor and Head of School Development Studies
Imraan Valodia – South Africa
School of Development Studies
Prof. Isabel “Álvarez, “ – Spain
University teacher in economics; Universidad Complutense de Madrid
Prof José Antonio Alonso – Spain
Professor of Applied Economics, Director of Complutense Foreign Studies InstituteComplutense University Of Madrid
Prof Lourdes Benería – Spain
Department of City and Regional Planning, Cornell University
Cristina Carrasco – Spain
Department of Economics, University of Barcelona
Rafael Domínguez - Spain
Universidad de Cantabria, Spain
Prof. José Carlos Fariñas - Spain
Professor of Applied Economy, Universidad Complutense de Madrid
Pedro José Gómez – Spain
Complutense University, Madrid
Prof. Fernando Luengo - Spain
Professor of Applied Economy, Universidad Complutense de Madrid
José María Larrú – Spain
CEU San Pablo University, Madrid
Prof Joan Martinez-Alier – Spain
Department of Economics and Economic History, Autonomous University of Barcelona
Carlos Mulas-Granados - Spain
University teacher economics, Universidad Complutense de Madrid
Gonzalo Ramírez de Haro - Spain
University teacher economics, Universidad rey Juan Carlos, Madrid
Prof Carmen Sarasúa – Spain
Professor of Economic History, Autonomous University of Barcelona
Ass. Prof Örjan Appelqvist – Sweden
Associate Professor, Dept of Economic History, Stockholm University
Ass. Prof Jorge Buzaglo – Sweden
Associate Professor of Economics, Independent Researcher
Adel Daoud – Sweden
Department of Sociology, Gothenburg University
Dr Stefan de Vylder – Sweden
Associate Professor of Development Economics, Stockholm
Dr. Christian Kellermann – Sweden
Director, Friedrich Ebert Foundation Stockholm for the Nordic Countries
Prof. Peter Söderbaum – Sweden
Professor Emeritus of Economics, Mälardalen University
Suthiphand Chirathivat – Thailand
Chairman Chula Global NetworkChulalongkorn University
Pedro Goulart – The Netherlands
Fellow, International Institute of Social Studies, Erasmus University Rotterdam
Prof. Arnold Heertje – The Netherlands
Em. Professor of the University of Amsterdam
Dr C. W. M Naastepad – The Netherlands
Economist, Delft University of Technology
Dr Servaas Storm – The Netherlands
Economics, Delft University of Technology
Prof Rolf van der Hoeven – The Netherlands
Professor of Employment and Development Economics, Institute of Social Studies, The Hague
Ass. Prof Irene van Staveren – The Netherlands
Associate Professor of Feminist Development Economics, International Institute of Social Studies of Erasmus University Rotterdam
Dr Edsel Beja Jr – The Philippines
Department of Economics, Ateneo De Manila University
Ass. Prof Ahmet Atil Asici – Turkey
Assistant Professor, Economics, Istanbul Technical University
Simel Esim – Turkey
International Labour Organisation, Geneva
Ass. Prof Zeliha Göker – Turkey
Associate Professor, Econmics, FEAS Akdeniz University Antalya
Prof Ferda Halicioglu – Turkey
Professor of Economics, Yeditepe University
Umit Senesen – Turkey
Professor, Business Faculty, Istanbul Technical University
Dr Süleyman Ulutürk – Turkey
Department of Public Finance, Faculty of Economics, Akdeniz University, Turkey
Prof. Erinc Yeldan – Turkey
Professor of Economics, Bilkent University
Prof. Sudhir Anand – UK
Professor of Economics, University of Oxford, visiting Professor, Harvard University
Dr Alvaro Angeriz – UK
Lecturer in Economics, Queen Mary University of London
Prof. Sir Tony Atkinson – UK
Professor of Economics, Cambridge University
Dr. Emilios Avgouleas – UK
Reader in International Financial Law, Manchester University
Prof. William Brown – UK
Professor of Industrial Relations, University of Cambridge
Michael Burke – UK
Economic Consultant
Prof. Mustafa Caglayan – UK
Professor in Economics, University of Sheffield
Robert Chambers – UK
Research Associate, Institute of Development Studies
Ha Joon Chang – UK
Reader of Economics, University of Cambridge
John Chritensen – UK
Director of Tax Justic Network International Secretariat, London
Prof Valentina Corradi – UK
Professor of Economics, University of Warwick
Prof. Christopher Cramer – UK
Professor of the Political Economy of Development, SOAS
Dr Jerome De Henau – UK
Lecturer in Economics, Faculty of Social Sciences, Open University
Prof Sheila Dow – UK
Professor Emeritus in Economics, University of Stirling
Prof Ciaran Driver – UK
Professor of Economics, Imperial College Business School, London
Prof J Paul Dunne – UK
Professor of Economics, University of West England
Christopher Edwards – UK
Senior Fellow, University of East Anglia
Prof. Diane Elson – UK
University of Essex
Ismail Erturk – UK
Senior Lecturer in Banking, Manchester Business School, University of Manchester
Prof. Michael Finus – UK
Professor of Economics, University of Exeter
Dr Marina Della Giusta – UK
Postgraduate Research Director, University of Reading, UK
Prof Ian Gough – UK
Professorial Research Fellow, LSE and Emeritus Professor of Social Policy, University of Bath
Prof. John Grahl – UK
Human Resources Management, Middlesex University
Prof Francis Green – UK
Professor of Economics, University of Kent
Prof. Geoff C. Harcourt – UK
Emeritus Reader in the History of Economic Theory, University of Cambridge
Prof. Barbara Harriss-White – UK
Professor of Development Economics, Oxford University
Prof. Susan Himmelweit – UK
Professor of Economics, Faculty of Social Sciences, Open University
Prof. Geoffrey M Hodgson – UK
University of Hertfordshire
Prof. Stuart Holland – UK
Visiting Professor, Faculty of Economics, University of Coimbra
Prof. Jane Humphries – UK
Professor of Economic History and Fellow of All Souls College, University of Oxford
Prof. Grazia Ietto-Gillies – UK
Emeritus Professor of Applied Economics, Director Centre for International Business Studies, London South Bank University
Prof George Irvin – UK
Professor of Economics, University of London, SOAS
Prof Alex Izurieta – UK
UN/DESA Senior Economic Affairs Officer & Research Associate at University of Cambridge
Prof. Rhys Jenkins – UK
Professor School of International Development, University of East Anglia
Dr Deborah Johnston – UK
Dept of Economics, University of London, SOAS
Dr Nitasha Kaul – UK
Visiting Fellow, Centre for the Study of Democracy and formerly Lecturer in Economics
Stewart Lansley – UK
Economic consultant
Prof. Dennis Leech – UK
Professor of Economics University of Warwick
Julie Litchfield – UK
Senior Lecturer in Economics
Prof Maureen Mackintosh – UK
Prof of Economics, Faculty of Social Sciences, Open University
Dr Ronald L Martin – UK
Professor of Economic Geography, Cambridge-MIT Institute Research Associate, University of Cambridge
Dr Simona Mateut – UK
Lecturer in Economics, University of Sheffield
Prof Ailsa McKay – UK
Acting Head of Department of Economics, Glasgow Caledonian University
Judith Mehta – UK
Research Coordinator, ESRC Centre for Competition Policy, University of East Anglia
Dr Lyla Metha – UK
Research Fellow, Institute of Developmemt Studies
Prof Marcela Miozzo – UK
Prof of Economics and Management of Innovation, University of Manchester
Prof. Simon Mohun – UK
School of Business and Management, Queen Mary, University of London
Richard Murphy – UK
Director, Tax Research UK
Robin Murray – UK
Fellow, Young Foundation
Dr Sushama Murty – UK
Assistant Professor, Department of Economics, University of Warwick
Dr Ioana Negru – UK
Ashcroft International Business School
Prof. Klaus Nielsen – UK
Professor of Institutional Economics, Birkbeck, University of London
Prof. Machiko Nissanke – UK
Professor of Economics, University of London, SOAS
Wendy Olsen – UK
Senior Lecturer in Socio-Economic Research, University of Manchester
Dr Jose Gabriel Palma – UK
Senior Lecturer, Faculty of Economics, Cambridge University
John Palmer – UK
Founding Political Director of the European Policy Centre, Visiting Practitioner Fellow at the European Institute – University of Sussex
Dr Alberto Paloni – UK
Head of Economics Department, University of Glasgow
Susan Pashkoff – UK
Senior Lecturer in Economics, DeMontfort University
Dr Alicia Puyana – UK
D.Phi Oxon
Prof. Imran Rasul – UK
Professor of Economics, University College London
Howard Reed – UK
Director, Landman Economics
Prof. Jill Rubery - UK
Deputy Director of Human Resources, University of Manchester
Christina Santos – UK
Faculty of Social Sciences, Open University
Malcolm Sawyer – UK
Professor of Economics, Leeds University
Hubert Schmitz – UK
Professorial Fellow, Institute of Development Studies
Dr. Paul Segal – UK
Research Fellow in Economics, University of Oxford
Mehdi Shafaeddin – UK
Retired UN
Prof. Prem Sikkah – UK
Centre for Global Accountability, Essex Business School, University of Essex
Dr Roberto Simonetti – UK
Senior Lecturer in Econmics, Open University
Dr. Pritam Singh – UK
Senior Lecturer of Economics, Oxford Brookes University
Prof. Richard J. Smith – UK
Professor of Econometric Theory and Economic Statistics, University of Cambridge
Prof. Frances Stewart – UK
Professor of Development Economics, Oxford University
Prof Holly Sutherland – UK
Research Professor, Institute for Social and Economic Research, University of Essex
Dr. Demosthenes N. Tambakis – UK
Director of Studies in Economics, University of Cambridge
Dr. John Thanassoulis – UK
Lecturer of Economics, University of Oxford
John Toye – UK
Senior Research Associate and Visiting Professor of Economics, University of Oxford
Prof. Rick van der Ploeg – UK
Professor of Economics, University of Oxford
Roberto Veneziani – UK
Senior Lecturer, Queen Mary University
Dr Kevin Watkins – UK
Director EFA Global Monitoring Report UNESCO
Prof John Weeks – UK
Professor Emeritus, University of London
Dr Julian Wells – UK
Senior Lecturer in Economics, Kingston University
Prof. Philip J Whyman – UK
Professor of Economics, University of Lancashire
Prof. Simon Wren-Lewis – UK
Professor of Economics, Oxford University
Dr Piercarlo Zanchettin – UK
Department of Economics, University of Leicester
Prof Alice Amsden – USA
Prof of Political Economy, Massachusetts Institue of Technology
Ass. Prof Michael Ash – USA
Associate Professor of Economics, University of Massachusetts
Dr Ron Bainman – USA
Director of Budget and Policy Analysis, Center for Tax and Budget Accountability
Dean Baker – USA
Co-director, Centre for Economic and Policy Research, Washington D.C.
Dr. Nesecan Balkan – USA
Lecturer in Economics, Hamilton College
Dr. Wm Barclay – USA
Adjunct Professor, University of Illinois at Chicago
Prof Barbara Bergmann – USA
Professor of Economics, American University
Prof Gunseli Berik – USA
Professor of Economics, University of Utah
James K Boyce – USA
Department of Economics, University of Massachusetts, Amherst
Dr Robin Broad – USA
Professor, International Development Program, American University
Prof. Clair Brown – USA
Professor of Economics, University of California
Prof. Jim Campen – USA
Professor Emeritus of Economics, University of Massachusetts
John Cavanagh – USA
Director of Institute for Policy Studies, Washington
Prof. Howard Chernick – USA
Dept. of Economics, City University of New York
Dr Roy Culpeper – USA
President and CEO, The North-South Institute
Ass. Prof Anita Dancs – USA
Assistant Professor of Economics, Western New England College
Jane D’Arista – USA
Research Associate, University of Massachusetts/Amherst
Prof Carmen Diana Deere – USA
Professor of Food and Resource Economics, Centre for Latin American Studies, University of Florida
Dr George DeMartino – USA
Co-Director, MA Degree in Global Finance, Trade and Economic Integration, University of Denver
Prof Amitava Krishna Dutt – USA
Department of Economics and Policy Studies, University of Notre Dame, USA
Prof. Gerald Epstein – USA
Professor of Economics, University of Massachusetts, Amherst
Prof Nancy Folbre – USA
Prof of Economics, University of Massachusetts, Amherst
Kevin P Gallagher – USA
Department of International Relations, Boston
Neva Goodwin – USA
Co-Director, Global Development and Environment Institue, Tufts University
Prof John Gowdy – USA
Professor of Economics, Rittenhouse Polytechnic Institute, New York
Prof. Ilene Grabel – USA
Professor of International Economics and Co-Director, Josef Korbel School of International Studies, University of Denver
Ass Prof Ulla Grapard – USA
Director, Women’s Studies Program, Colgate University
Stephanie Griffith Jones – USA
Financial Markets Program Director at the Initiative for Policy Dialogue at Columbia University
Caren Grown – USA
Economist in Residence, College of Arts and Sciences, American University
Dr Heidi Hartmann – USA
President at Institute for Women’s Policy Research, Washington DC
Prof. David Howell – USA
Prof of Milano New School for Management and Urban Policy
Ass Prof Ebru Kongar – USA
Associate Professor, Department of Economics, Dickinson College
Dr Edith Kuiper – USA
Department of Economics, State University of New Paltz
Dr Tom Larson – USA
Department of Economics, California State University, LA
Hank Leland – USA
Senior Research Analyst, Service Employees International Union, Washington DC
Prof Charles Levenstein – USA
Emeritus Professor in Economics, University of Massachusetts, Lowell
Margaret Levenstein – USA
University of Michigan
Ass. Prof Tracy Mott – USA
Associate Professor of Economics, University of Denver
Ass Prof Michael J Murray – USA
Assistant Professor of Economics, Central College, USA
Prof José Antonio Ocampo – USA
Prof of Economics Columbia University
Ass Prof Mary Orisich – USA
Department of Economics and Critical Cultural Studies, Holyoke Community College
Ass. Prof Aaron Pacitti – USA
Assistant Professor of Economics, Siena College
Thomas Palley – USA
Schwartz Economic Growth Fellow New America Foundation
Ass.Prof M. Stephen Pendleton – USA
Associate Professor of Economics and Finance, Buffalo State College
Prof. V.Spike Peterson – USA
School of Government and Public Policy, University of Arizona
Prof. Robert Pollin – USA
Professor of Economics, University of Massachusetts, Co-director of the Political Economy Research Institute
Prof Marilyn Power – USA
Professor of Economics, Sarah Lawrence College, New York
Prof Shahrukh Rafi Khan – USA
Visiting Professor of Economics, Mount Holyoke College, Massachusetts
Prof J Mohan Rao – USA
Professor of Economics, University of Massachusetts, Amherst
Ass. Prof Leopoldo Rodriguez – USA
Associate Professor, Portland State University
Prof. Dani Rodrik – USA
Professor of International Political Economy at Harvard
Dr Frank Roosevelt – USA
Economics Faculty, Sarah Lawrence College
Prof. Samuel Rosenberg – USA
Professor of Economics and Director of the Honors Program, Department of Economics, Roosevelt University
Prof. Jeffrey Sachs – USA
Director, Earth Institute, Columbia University
John Schmitt – USA
Senior Economist, Center for Economic and Policy Research Washington DC
Prof Stephanie Seguino – USA
University of Vermont
Prof Jean Shackelford – USA
Department of Economics, Bucknell University
Heidi Shierholz – USA
Economist, Economic Policy Institute
Dr Richard L Shirey – USA
Professor Emeritus of Economics, Siena College, London
Peter Singer – USA
Ira W. De Camp Professor of Bioethics
Dr Elizabeth Stanton – USA
Senior Economist, Stockholm Environment Institute, Tufts University
Prof. Frank Stricker – USA
Emeritus Professor, California State University
Dr Scott Trees – USA
Professor of Economics, Siena College, London
Dr Gianni Vaggi – USA
Department of Political Economy, University of Pavia
Ass Prof Matias Vernengo – USA
Associate Professor of Economics, University of Utah
Dr Rudi von Arnim – USA
Assistant Professor of Economics, University of Utah
Prof. Thomas E. Weisskopf – USA
Professor of Economics, University of Michigan
Ass. Prof Jeannette Wicks-Lim – USA
Assistant Research Professor, University of Massachusetts
Ass. Prof Yavuz Yasar – USA
Assistant Professor, Department of Economics, University of Denver
Ass. Prof Jeffrey Zink – USA
Visiting Assistant Professor of Economics, Franklin and Marshall College
  • Chris
    It seems to me that you are all missing one very important fact in this new attempt to take our money, that's right our money. The financial institutions won't being paying anyone a single dime of there own money. It is OUR MONEY that will be STOLEN. Why don't you get it.
  • Transaction Tax? Isn't necessary or needed in this day and age, and would only burden the current system even more.
  • annon
    The stamp duty tax in London doesn't do any harm to the city because only about 30% of market participants pay it. Large banks aren't part of that 30%. Also Id like to hear what these great economists would say about Sweden and there experience with the FTT.
  • Graeme Burrell
    I might take notice of this post if the postee had the guts to give their name... now, it couldn't be an investment banker, day trader or some other 'independent' thinker, could it?

    Surely not?!!

    Same ol' same ol'... baseless assertions by a gutless 'expert'...
  • Gloria Moore
    It was about time. It is a matter of the survival of the established order. The beginning of what Richard Semler calls "Capitalism with a heart".
  • Charie Hogg
    What a brilliant idea! What a brilliant video! What a brilliant public mandate! What a brilliant opportunity!

    Now we need to ensure that the potential problems with this (for example, accounting loop holes, banks moving abroad to tax havens) are all dealt with effectively and quickly. Those bankers and interest groups are clever, crafty and powerful and it is not quite as simple as this makes out!
  • Bravo! This tax won't addess the problem of unregulated finance but it will raise money to fight poverty and deal with climate change. The next question -- if there is any hope for such a tax in the U.S. -- is to tackle where the money goes and who gets to decide how to spend it.
  • Bansidhe
    Hey Bankers!

    We gave you a loan like when you give us a loan when we are skint and suffering a bit of cash flow thing and we can definitely and honestly jump hoops and will pay you back you back later - or we lose everything and do end up on the streets.

    So stop with your rubbish its very basic and fair and reasonable - you owe, its the sword you live by and swing at us.
  • Dave Evans
    What does Paul Krugman (a Nobel Laureate) think of this Robin Hood tax?

    I can't find any mention in his NYT columns.
  • Graeme Burrell
    Hi Dave... can't find anything definitive, but a quick Google found 2 links that suggest 1. he's supportive of the RHt, and 2. he blames the kind of dealing that the RHt is targeting as a cause of the recent crash;

    1. http://pib.onf.ca/blog/news/robin-hood-tax-be-part-of-the-worlds-biggest-bank-job/

    2. http://greenerblog.blogspot.com/2010/02/robin-hood-tax-debate-financiers-rack.html

    I *know* that these aren't definitive; I'm not using the naysayers' trick of cherry-picking! (these are the first 2 quotes that mentioned him and the RHt I could find) so let me know if there's any doubt about his position! :-)
  • @Miroslav - You are building an argument around false expectations, this letter should be taken in it's correct context as a contribution to a political campaign not an academic argument. For the record though, I know that Ilene Grabel at least has produced papers in support of Robin Hood style taxes, I'm sure that some of the others have as well..
  • Peter Singer
    Pete Singer knows nothing about economics, he even claims so in some of his essays.

    Also, if you told peter that killing a few thousand babies would end world poverty - he'd probably go for it.
  • jason brady
    let's get rid of all taxes and just tax 15 percent when u buy stuff from stores so when u buy something that u want like rich do all the time then the tax comes out but if its food or toiletrys things u need gets no tax and I'm sure 15 percent of all spending us wide would get us out of debt and get new roads and schools ect......and start green project where we use the sun and the wind and the water for energy without polluting it....
  • Apologies, but could you highlight the two Nobel Laureates?

    Of the names there I recognise, Richard Murphy wrote the TUC paper in support of the tax and is not an economist (he's an accountant), John Christiansen is is best working buddy, Jeff Sachs would support any tax for development at all, Dean Baker is the author of one of the papers that you yourselves quote in support of the tax.

    Of those names I recognise Dani Rodrik and John Quiggin are the only ones that I would consider serious: and I'm surprised to see them both there.

    Peter Singer is an ethicist, not an economist. Prem Sikka (not Sikkah) is an accountant, not an economist.
  • Graeme Burrell
    Hey, Tim, you're back!

    BTW, you still haven't let us know what percentage of your income you pay in UK tax - important information for someone who's the mouthpiece of UKIP, surely?

    And still up to your old tricks of obfuscation, I see... instead of (lamely) trying to pick holes in the contributors to the above letter, how about trying to get an equivalent number of *independent* (hahaha!) academics to support *your* view?

    Or could it be that the only people you could get together would be the same old social parasites that prop up the dodgy end of the international finance transaction trade?

    Looking forward to your reply to this comment.. but I suspect you'll just move on to peddling your same old tosh on another forum or blog somewhere, as usual!
  • You Should Hold a Robin Hood Free Gig. An I'll Play for one :) Im sure theyres hundreds of bands that would play for free, Bring down everyone, AS Long as they sign an agreement supporting the Robin Hood Tax they can get into the gig/festival :) Email me Back :)
  • Miroslav
    "Appeal to authority is a fallacy of defective induction, where it is argued that a statement is correct because the statement is made by a person or source that is commonly regarded as authoritative. The most general structure of this argument is:

    Source A says that p is true.
    Source A is authoritative.
    Therefore, p is true."

    [ Source: http://en.wikipedia.org/wiki/Argument_from_authority ]

    It would be nice to see some published evidence as well. If the number of economists were at all correlated with the number of papers supporting Tobin's conjecture, then and any 'Tobin deniers' would have been absolutely swamped by quality research by now. Ideally peer-reviewed and not classified as so called "normative economics", i.e. political opinion in disguise.

    Why would anyone need as much as 350, when it would be enough if you could produce a list of just 35 peer-reviewed articles that would show some evidence that would be:
    - empirical (not theoretical / normative) AND
    - anonymously peer-reviewed (i.e. not self-published, and devoid of any influence of autor's general authority)
    that:
    - a Tobin/FFT tax (or other cost) has actually reduced volatility somewhere in practice OR
    - a Tobin/FTT tax has created net value for the economy by e.g. raising more tax revenue than it destroyed due to a fall in capital gains tax revenues, substitution by untaxed alternatives, capital cost increases, and GDP reduction (this is after all a tax, and a monetary tightening as well).

    You can omit the paper which "contrasts with the previous evidence" - I already know that one and even quoted it myself to avoid bias.

    Don't post your evidence on your own website or in the advertising-accepting media - try to argue on merits where your opposition does - in the peer-reviewed journals or at least on the Tobin tax Wikipedia page. Such discussions should not be conducted using high-pressure sales tactics (like that "We call on you to implement it as a matter of urgency." appeal). Are you charities insolvent or something? If not then why so much haste? In the mean time you can ask the UK government for a part of that GBP3-4bn of the existing Stamp Duty on equities - just to see if they would be willing share the Robin Hood tax proceeds in the future.

    I'm sure with so many economists (i.e. 10 per country) on your side, all remaining tax opposers will eventually be convinced by your new rational arguments.
  • Graeme Burrell
    Oh dear.. yet again the call is for those in favour of a RHt-style tax to prove that it would work, while using the same old debating 'logic' tricks to avoid proving that it wouldn't...

    Apologies to 'Miroslav' if he's genuinely trying to get a genuine debate going, but for the moment I'll paraphrase what I posted above;

    "I might take notice of this post if the postee [were to] give their [full] name… now, it couldn’t be an investment banker, day trader or some other ‘independent’ thinker, could it?

    Surely not?!!

    Perhaps an update from 'Miroslav' would be in order?
  • Econ101
    They say that 3 economists in the same room normally produce 5 opinions on what needs to be done.

    This letter seems to disprove that myth.

    Who, apart from vested interests or free market zealots, is opposing this sensible and needed tax?
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