The Tobin tax and Newcomb's paradox: Financial markets viewed from the perspective of Michel Serres

Abstract

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.

Citation

Besson, D., Downs, A., Durant, R. and Roman, M. (2006), "The Tobin tax and Newcomb's paradox: Financial markets viewed from the perspective of Michel Serres", Journal of Organizational Change Management, Vol. 19 No. 4, pp. 529-540. https://doi.org/10.1108/09534810610676716