A collage of images, featuring most prominently a person holding a sign reading "no justice no peace"

Category: Economics

Democracy / Economics / International

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TTIP and Human Rights: The Need to Fight Harmful Tax Practices

Matthias Goldmann is Junior Professor of International Public Law and Financial Law at the Goethe University in Frankfurt. This guest post is Part 1 of a special series on TTIP that we’ll be running in the coming weeks.

Anti-TTIP protesters in London, 2014. Wikimedia Commons.

Anti-TTIP protesters in London, 2014. Wikimedia Commons.

The ongoing debate about the Transatlantic Trade and Investment Partnership (TTIP) has shed new light on the effects of trade on economic and social equality. While it is well understood in theory that free trade is likely to generate aggregate welfare benefits, in practice the allocation of these benefits seems to be highly unequal. In developed economies, free trade might lead to the outsourcing of jobs of low-skilled workers to places with lower labor costs. In developing economies, trade might generate low-skilled jobs, but with international competition preventing wages from rising. Entrepreneurs and trading companies rather than workers seem to collect a large share of the benefits of international trade. As I will argue, this threatens the economic, social and cultural rights (ESC rights) of low-skilled workers. Free trade agreements (FTAs) are therefore only acceptable to the extent that participating governments take measures to mitigate their impact on low-skilled workers. To generate revenue for such measures, states should devise strategies to combat international tax evasion and tax competition.

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Academia / Distribution / Economics / Gender / Governance / International

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Call for Papers: Labour Market Injustice Workshop

Newcastle University & Durham University, 14-15 December 2016

Labour market injustice is a pressing problem both domestically and globally. None the less, there continues to be considerable disagreement about how to understand and locate the moral concerns involved. Many commentators understand labour market injustice in interactional terms, viewing it as a problem with the wage or contract terms employers offer their workers. But, there is also an emerging trend towards thinking about it in more structural terms. One such thread involves conceptualising labour market injustices as systemic problems, such as understanding exploitation or discrimination as group-to-group phenomena. Another thread involves articulating proposals to prevent labour market injustices through institutional and policy level responses.

This workshop will operate as a detailed discussion of a set of works-in-progress that consider these emerging angles on (domestic and global) labour market injustice. We invite submissions grounded in any area of political theory, including both applied work and more theoretical or methodological contributions, and also papers that consider the intersection with importantly related disciplines, such as law and economics. Topics may include, but are not limited to, areas such as:

  • Labour rights
  • Discrimination
  • Work-life balance
  • Business organisation
  • Supply chains
  • Brain-drain
  • Exploitation

Confirmed participants

  • Anca Gheaus (University Pompeu Fabra, Barcelona)
  • Martin O’Neill (University of York)

Workshop Organisers

  • Elizabeth Kahn (Durham University)
  • Tom Parr (University of Essex)
  • Andrew Walton (Newcastle University)

Submissions

Abstracts of up to 500 words, accompanied by contact details and institutional affiliation, should be sent to andrew.walton@ncl.ac.uk by 30th September 2016.  We will notify accepted papers by 14th October.

For further information, please contact andrew.walton@ncl.ac.uk, tparr@essex.ac.uk, or elizabeth.kahn@durham.ac.uk

Economics / Governance / International

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Interview: Peter Dietsch on Catching Capital

Taxation is amongst the most hotly debated and politically contentious issues of the twenty-first century.  It has long been an important component of state policy for funding public services and managing inequalities.  Recently, it has increasingly been under the spotlight in virtue of international concerns – worries about multi-national companies shifting profits to low-tax jurisdictions and wealthy indDietschividuals exploiting tax loopholes, often to the effect of reducing state tax revenues.  Such realities raise important questions about the ethics of taxation in a globalised era and have been the focus of much work by Université de Montreal philosopher Peter Dietsch across his work in The Journal of Political Philosophy, Review of International Studies, Moral Philosophy and Politics, Ethical Perspectives, and the volume Global Tax Governance – What is Wrong With It and How to Fix It (co-edited with Thomas Rixen). In 2015, Peter published a book – Catching Capital: The Ethics of Tax Competition – on these issues and, when the opportunity presented itself, we took the chance to interview Peter about this work and heard some of his interesting reflections on the subject:

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Distribution / Economics / Gender

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Would an unconditional basic income be just?

On June 5th, Switzerland will be the first country to vote on an unconditional basic income (UBI). UBI is “an income unconditionally granted to all on an individual basis, without means test or work requirement”. Although not new, the idea is revolutionary in that it decouples income from work, and it conflicts with many people’s intuitions about justice. It cannot be fair if someone who chooses not to work because she wants to read novels all day is entitled to the same basic income as a person who cannot work due to disability, right? At the same time, the idea has been defended not only on economic and pragmatic grounds, but also for reasons of justice. I will assess the idea from the perspective of justice and conclude that justice recommends giving it a try.

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Distribution / Economics / Liberty / Rights

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On what we should get out of work (other than money!)

bruegel_peasants

Remember what good things you hoped awaited you within a future job when you were very young and still preparing for one. And have you ever been unemployed long-term, worried that you’d not find work in the near future? In this case, remember why it was distressing (if it was). Here I’ll talk about the things we can, and should, get out of work – and argue that these goods are so important that we ought to reorganise employment. (more…)

Democracy / Economics / Governance

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Are financial markets – markets?

Philippine-stock-market-board

(source: wikimedia)

What a weird question, you may think. But consider:

  • In textbook markets, what is traded are products that are supposedly useful to customers. What is traded in many financial markets are highly artificial contractual arrangements that are several layers away from what happens in the real economy.
  • In textbook markets, participants are liable to go bankrupt if they overspend. In financial markets, some market participants know that they are too big to fail, creating problems of “moral hazard.”
  • In textbook markets, participants are expected to inform themselves about the products they trade. At least in some financial markets, what matters are not the “fundamentals” (e.g. the economic success of a company the shares of which are traded), but what other participants do. Many participants try to make profits by outrunning market movements or “sentiments”; this can lead to large swings, in disconnect from fundamentals (more…)

Democracy / Economics / Liberty

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What can republicanism offer the left?

the republican magazine

When you tell people that you work on republicanism, you are often met by a concerned look. You then have to rush to explain that by ‘republicanism’ you, of course, do not mean the party of Trump and Palin. Nor – you then have to add – do you only mean that you take a particular dislike to Elizabeth Windsor. This public understanding of republicanism looks set to only get worse, with the French centre-right UMP party, last year, successfully renaming itself Les Républicains.

The prospects for recovering republicanism for leftist politics might therefore not seem particularly promising. The label ‘republican’ might simply be too poisoned by its associations with right-wing parties or too easily reduced to narrow anti-monarchism, to be of much use to radicals and progressives. Yet, despite these concerns, I do think that republicanism has something to offer to the left.¹ I believe that its values of popular sovereignty, civic virtue and freedom, and the political proposals we can draw from them, make a recovery of republicanism attractive.

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Democracy / Economics / Moral values

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How do people vote against their own interests?

I spend a disproportionate amount of my free time following the ins and outs of American politics. And one of the most interesting/baffling things about the nominations for the 2016 presidential election is the sheer capacity of the average Republican voter to stomach policy proposals that seem tailor-made to benefit the tiny minority of the wealthiest at the expense of everybody else. For example, all of the Republican front-runners have come out with some form of tax plan that cuts taxes on the wealthiest 1% by hundreds of thousands of dollars. Yet this doesn’t scare away nearly as many voters as you’d expect — in fact, the race is wide open, and some pundits even suggest the GOP are favourites at this stage. Voting against your own interests is, arguably, a global phenomenon – I’m sure many in the UK will say it happened in the elections in May – but it does seem to be particularly prevalent in the US, perhaps because one of the parties has moved so far to the right on social and economic issues that there is not yet any equivalent in Europe.

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Economics / Liberty

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On ‘negotiating the balance between personal freedom and really cool free stuff’

Imagine you are watching your favourite TV show and its protagonist walks to the fridge and gets out a drink (or: gets into a car, answers their phone, walks past a billboard, pours breakfast cereal into a bowl – you get the picture). Unbeknownst to you, the actual drink that you see them take out of the fridge is dependent on factors about you, such as your geographic location: you see the character pull out a Diet Coke, for instance, while another person on the other side of the world watching the same episode of the same programme at the same time sees them take out a particular brand of iced tea.

You have (both) just been subject to a new type of advertising practice known as ‘digital insertion’ – a much more technologically-sophisticated, targeted version of product placement.  (more…)

Distribution / Duties / Economics / International

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(One of) Effective Altruism’s blind spot(s), or: why moral theory needs institutional theory

Blick aus dem Bürofenster kleinThere has been much talk about effective altruism recently (see e.g. here or here) – the idea that you should try to do as much good as you can, using the most effective means. It reads a bit like an update of good old Jeremy Bentham and “the greatest happiness of the greatest number” by a McKinsey consultant. It is easy to ridicule, and ridicule is indeed a frequent reaction because humour eases the tension that one can feel when confronted with these ideas. For there seems to be more than a grain of truth in effective altruists’ claim that we could do so much more to help those who were less fortunate in the “natural lottery” of where and when they were born. One thing that speaks in their favor, after all, is that effective altruists ask serious questions about what it means to be a moral agent in today’s world. What I here want to pick out from the debate is their picture the social world and of human institutions, which I take to be flawed. It is an illustration of why moral philosophy should not neglect the world we live in and the institutions that structure it.

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