Author: Martha McCluskey
How can a Law and Political Economy approach guide the power of taxation toward democracy, justice, and a livable planet?
As tax policy confronts evidence of impending climate catastrophe, such private market deference is ripe for scrutiny. Far from being merely a system for “redistributing” resources produced through independent economic processes, taxation is part of the legal architecture that constitutes those processes in the first place. Along with other political institutions, taxation contributes to establishing and governing the trustworthy public credit medium – money – on which market exchange depends. By taking account of monetized transactions and selectively withdrawing money from circulation, taxation regulates the power of this liquidity to fuel economic destruction as well as production.
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