Sony Kapoor

Time for Economic Polluters to Pay Up? Tobin or not Tobin…

As the global battle heats up over Tobin Taxes, opponents will have a tough time arguing that their ‘leave the market alone’ mentality is anything more than hot air. Sony Kapoor argues that Tobin Taxes, or Financial Transaction Taxes, are a good idea and will soon be blooming around the world.

Proponents of Tobin Tax(es) or, more technically, Financial Transaction Taxes, are happy that these have been in the news a lot lately. The so-called “Tobin Tax” on capital flows was originally proposed in 1971 by Nobel laureate James Tobin as a way to address speculation in global markets. Today, everyone from…

Dear G-20, do the photo ops but don’t forget these principles!

Sony Kapoor outlines the principles that should guide global leaders in shaping economic reform.

At this Friday’s summit in Pittsburgh, the G-20 leaders will engage in the usual mix of photo ops, gourmet luncheons, backslapping and some real work. They and the world would be better off if this ‘real work’ of reforming the world financial system was informed by some sound principles.

In a debate that has bordered on being shallow and shrill, approaching regulation with a view to increasing the competitiveness, diversity and fairness of the financial system at the same time as reducing its complexity would be the only sensible…