The Tobin tax and Newcomb's paradox Financial markets viewed from the perspective of Michel Serres, Journal of Organizational Change Management

Purpose – The purpose of this paper is to examine proposals for a Tobin tax to curb currency speculation in global markets. Design/methodology/approach – Financial markets are viewed from the perspective of Michel Serres. Findings – Managing volatility is really about managing relationships that can buffer governments against risk. The resolution of a paradox is embracing the paradox. Originality/value – The work of Michel Serres has not previously been used in analyses of global currency markets. His theory of parasitical relationships offers a novel response to proposals for a Tobin tax.

Journal of Organizational Change Management – Emerald Publishing

Published: Jul 1, 2006

Keywords: Financial markets; Taxes; Currency options