Neoliberalism 2.0 : regulating and financing globalizing markets ; a Pigovian approach for 21st century markets

X, 513 S.

Machine generated contents note:Table of Contents List of Tables1.Introduction1.1.An Initial Survey1.2.The Taxation Perspective1.3.The Neoliberal Context and the Rule of Law.1.4.Rising Inequality Despite Progressive Tax Systems1.5.Sequencing the Topics and Justification of the Research Statement2.Liberalism versus Neo-Neoliberalism2.1.Introduction2.2.Dissecting Liberalism2.2.1.Constituting Principles and (Soft) Demarcation Lines2.2.2.Classifications2.2.3.Classical Liberalism2.2.4.Social Liberalism2.2.5.Libertarianism2.3.Positioning Neo-Liberalism and Objective of the Free Market2.3.1.Historical Dimensions2.3.2.Classical Neo-Liberalism2.3.3.Stages in the Emergence of Neoliberalism2.3.4.The Neoliberal Conception of Freedom2.3.5.Evaluation2.4.The Problematic Relation Between the State and the Free Market2.5.How Neo-Liberalism Differs From Liberalism: A Re-Visitation of the Past2.6.Neo-Liberalism and the Rule of Law2.7.Interim Conclusion3.Changing Sovereignty, Democracy, Individual Freedom and the Evolving Dynamics of Taxation in a Modern Neoliberal State Within Europe3.1.Introduction3.2.Development of the Nation State3.2.1.(Historical) Connotation Between State-Sovereignty and Legitimacy3.2.2.The Historical Dimensions and Role of Taxation3.2.3.Sovereignty Dynamics3.2.4.Application of Those Principles in a 21st Century Characterized by Globalization3.3.The Role of Individual Freedom: a Back-Test Against Neo-Liberalism3.3.1.The Different Dimensions of Freedom3.3.1.1.Negative Freedom3.3.1.2.Positive Freedom3.3.2.The Libertarian Concept of Freedom3.3.3.The Concept of Freedom and the Dynamics of a Modern Welfare State3.3.4.Freedom and the Neo-Liberal State3.3.5.Fear, Democracy and the Neoliberal Individual3.3.6.The Neoliberal State Infrastructure and Neo-Liberal Freedom3.3.7.Controlled Freedom as Ideology.3.3.8.Characterization of Neoliberal Freedom3.3.9.The Neo-Liberal Individual and its Relation to the Democratic Sovereign3.4.Future Dynamics of Democracy in a (Post)-Neo-Liberal State3.4.1.The Problem Lies Within the Constituting Elements of Democracy3.4.2.Democracy and Partial Regional Sovereignty3.4.2.1.Democracy Implications of EU Membership3.4.2.2.Democracy Implications of EMU 2.0 Membership3.4.3.The Issue of Legitimacy in Europe3.4.4.Democratic Legitimacy in a Non-Optimal Currency Area (EMU 2.0)3.5.Interim Conclusion4.Constructing an Alternative Tax Model Against the Background of a Changing (Tax) Sovereignty Paradigm Within the EU4.1.Introduction4.2.Evolving Tax Sovereignty4.2.1.Historical Dimensions4.2.2.The EU Dimension4.2.3.The EU's Involvement in Direct Tax Matters4.2.4.Colliding Principles: Fiscal Sovereignty of Member States and the Direct Effect of EU Law4.3.Internationalization and Digitalization Affecting Tax Matters4.4.The Nature of the Willingness to Pay Taxes4.5.Increasing Instrumentalism and Legitimacy in Tax Matters4.6.Final Observations Regarding Contemporary Income-Tax Based Systems4.7.The Pigovian Tax Model4.7.1.Introduction4.7.2.Pigou's Original Position and Its Evolution4.7.3.Critiques on the Pigovian Model 4.7.3.1.Measurement 4.7.3.2.What Externalities to Capture? 4.7.3.3.Reciprocity and Individual Property Rights 4.7.3.4.A Continuous Point of Contention: Non-linear Harm 4.7.3.5.Specific Versus General Balance Analysis 4.7.4.Effects in the Short-Term Versus Long-Term of Pigovian Taxes and the Double-Dividend Hypothesis 4.7.4.1.Longevity of Pigovian Taxes 4.7.4.2.The Double-Dividend Hypothesis 4.7.5.Do Pigovian Taxes Cause Deadweight Loss or Do They Hamper Economic Growth? 4.7.6.Pigovian Taxes and the Ability-To-Pay Principle 4.7.7.Pigovian Tax Credits 4.8.The Concept and Pricing of an Externality 4.8.1.Introduction 4.8.2.The Problem of Variation in Marginal Social Cost 4.8.3.Is it Possible to Refine the Distribution of Marginal Social Costs? 4.8.4.The Pricing of Externalities 4.9.Alternatives to and Derivatives of the Pigovian Model 4.10.Catalogization of Externalities 4.11.The Neoliberal Approach to Externalities 4.11.1.Introduction 4.11.2.Historical Evolution of Neoliberal Thinking 4.11.3.A New Paradigm 4.12.The Neoliberal Individual and Pigovian Taxes 4.13.Interim Conclusion 5.Applying Pigovian Taxes on a Regional Basis: The Quest for a Normative Model 5.1.Introduction 5.2.The Dynamics of Regional Economies and Economic Development 5.2.1.The Anchors of Regional Economic Development 5.2.2.Deeper Economic Integration in the EU 5.2.3.Factors Determining the Level of Economic Integration in an Economic Zone 5.2.4.Measuring Economic Integration 5.3.The Heckscher-Ohlin Model 5.3.1.Introduction 5.3.2.Fundamentals and Mechanics of the Model 5.3.2.1.The H-O Model and Ricardo's Comparative Advantage 5.3.2.2.Assumptions of the H-O Model 5.3.2.3.Mechanisms of the H-O Model 5.4.Evaluation 5.4.1.General Evaluation of the H-O Model 5.4.2.Evaluation of the H-O Model in the Context of Pigovian Taxes 5.4.2.1.Initial Findings 5.4.2.2.The Paradigm of Pigovian Taxes in a Regional Context 5.4.3.Expanding the Catalogue of Externalities 5.4.4.Policy Implications and Opportunities 5.5.Interim Conclusion 6.A Pigovian Approach in a Globalizing Financial Industry 6.1.Introduction 6.2.The Financial Sector and its Regulatory Straitjacket 6.3.Neoliberalism and the Banking Sector 6.4.The Financial Sector and Taxation 6.4.1.The Dutch Bank Tax 6.4.2.The Financial Transaction Tax 6.5.Externalities in the Financial Sector and the Options to Address 6.5.1.Externalities in the Financial Sector 6.5.1.1.The DNA of a Bank and Its Externality-Causing Activities 6.5.1.2.Options to Address Externalities in the Financial Sector 6.5.2.Evaluation of Bank Taxation Models and Expected Outcome 6.5.3.Inadequacy of the Current Bank Levies 6.5.3.1.Financial Transaction Tax 6.5.3.2.Bonus Tax and General Bank Levies 6.6.A Pigovian Tax Model for the FI Industry 6.6.1.Introduction 6.6.2.Taxing Systemic Risk in the FI Industry 6.6.2.1.Conceptualization of Systemic Risk 6.6.2.2.The Definition of a Systemically Important FI (SIFI) 6.6.2.3.Taxing Systemically Important FIs 6.6.3.Taxing Firm-Specific Risk in the FI Industry 6.6.3.1.Credit (Risk) Transformation 6.6.3.2.Maturity (or Duration) Risk Transformation 6.6.3.3.Risk Transformation 6.6.3.4.Liquidity Exposure in the FI Sector 6.6.3.5.Leverage-Induced Externalities 6.6.3.6.Volatility-Inducing Externalities 6.7.Pigovian Taxes and the Shadow Banking Industry 6.7.1.Introduction 6.7.2.Securitization 6.7.3.The Repo Market and Securities Lending 6.7.4.Re-Hypothecation and Collateral Lending 6.7.5.Shadow Banking as Market-Based Financing 6.8.Pigovian Taxes as a Macro-Prudential Tool 6.8.1.Introduction 6.8.2.Managing Credit Booms and Busts 6.8.3.Managing (Cross-Border) Capital Flows 6.9.Financialization as the Neoliberal Tool to Penetrate Non-Economic Spheres of Life 6.10.Interim Conclusion 7.Conclusions 7.1.Initial considerations 7.2.The (Pigovian) Tax Dimension in a Neoliberal State Infrastructure 7.3.The Research Questions 7.4.The Financial Industry and Pigovian Taxes in a Globalizing World 7.5.The European Dimension in this Study 7.6.Re-defining the Role of Taxation Going Forward 7.7.Scope For Further Research 7.8.Signing off Index.

ECONIS - Online Catalogue of the ZBW