Conception of Global Wealth Tax Cover Image

Koncepcja globalnego podatku majątkowego
Conception of Global Wealth Tax

Author(s): Grzegorz Malinowski, Jacek Tomkiewicz
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Rzeszowskiego
Keywords: income inequality; convergence; global wealth tax

Summary/Abstract: The main purpose of this article is to put forward an idea of global, progressive wealth tax asa tool of political economics which, if applied may limit the growth of imbalances related to globalincome inequalities and lack of economic convergence between rich and poor countries.Based on available, long–term data one can conclude, that contrary to the forecasts made byneoclassical growth models, poor economies do not develop faster in comparison with rich ones,simultaneously income and wealth inequalities tend to increase both within countries and on theglobal level.Therefore a rational, however controversial proposition emerges here. It’s an idea of globalwealth tax originated from T. Piketty’s “Capital in XXI century”. In the article we show how thissort of tax would be constructed and how it would look like. The most salient advantages of suchconcept are being presented. Among them three are to be particularly stressed: access to precise,transparent data concerning wealth statistics, positive impact on inequalities, additional revenuefor the government, that can be invested on human capital.In the article, we don’t answer the question whether such a concept is possible to implement.We realize that global consensus is a sine qua non condition in order to implement such a solutionand we also realize that such a global cooperation is nowadays almost unthinkable, however wefirmly believe that the main goal of economics is to construct tools and policies that are efficientand rational regardless their political surroundings.

  • Issue Year: 2015
  • Issue No: 43
  • Page Range: 92-101
  • Page Count: 10
  • Language: Polish