Next Article in Journal
The Lack of Alignment among Environmental Research Infrastructures May Impede Scientific Opportunities
Previous Article in Journal
Embryogenesis Explained. By Natalie K. Gordon and Richard Gordon. World Scientific: Hackensack, NJ, USA, 2016; 784 pp.; SGD 281; ISBN: 978-981-4350-48-8
Open AccessShort Note

Globalization, Inequality, Say’s Law, and Fiscal Globalism

Department of Economics, Westminster Tashkent, Tashkent 10047, Uzbekistan
Challenges 2017, 8(2), 17;
Received: 30 May 2017 / Revised: 20 June 2017 / Accepted: 7 July 2017 / Published: 10 July 2017
This is a brief note maintaining that financial globalization has been faster than the integration of the remaining sectors of the world economy, thus encouraging wealth inequality, under-production, and under-consumption in line with Say’s Law. Financial investment has become more profitable than real investment, discouraging production ventures, and weakening labor’s relative income position and purchasing power. Moreover, this article works out a model of international government indirect tax competition as a policy means against increasing inequality. The mentality under which this tax policy paradigm is put forward is that the competition of nation states in a fiscal globalism fashion crystallizes the optimal level of centralization under globalism; optimal, that is, from the viewpoint of safeguarding against the manipulation of world markets by financiers. View Full-Text
Keywords: globalization; wealth inequality; Say’s law; fiscal globalism globalization; wealth inequality; Say’s law; fiscal globalism
MDPI and ACS Style

Soldatos, G.T. Globalization, Inequality, Say’s Law, and Fiscal Globalism. Challenges 2017, 8, 17.

Show more citation formats Show less citations formats
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

Back to TopTop