30 Jan Nicolas Sarkozy: the new poster boy for the Robin Hood tax
Nicolas Sarkozy wants one. George Soros thinks it is a good idea. Development campaigners have it at the top of their wish list. The question, therefore, is whether the time for a Tobin tax has come?
Let’s just recap for a second. Back in the 1970s, the US nobel prize-winning economist James Tobin said there should be a tax on financial transactions to “throw sand in the wheels” of a global monetary system that was shaken by the collapse of the post-war Bretton Woods fixed exchange rate system.