International Political Theory: Finance, Taxation and Monetary Policy

Abstract

Over recent years, scholarly debates about global justice have moved significantly beyond earlier exercises in theoretical ground clearing and towards evaluating specific institutional arrangements and practices. Thus, a lively discussion has ensued regarding the normative requirements that should govern institutional design in the domains of trade, migration, intellectual property, or the distribution of and entitlements to natural resources. Despite being a central feature of the kind of globalisation that has developed over recent decades, globalisation in the domain of financial markets and its implication for such core justice-relevant issues as tax collection, public debt-making and monetary policy setting have not received equally detailed analysis by political theorists. The envisaged panel seeks to advance the debate in this particular domain by considering different approaches to what normative principles should govern the domain of global finance. More specifically, we have assembled a group of political theorists that each focus on one of the three core areas of interaction between the state and the financial market, namely (a) the debtor relation, where the state borrows funds from private parties and other public authorities to pursue its goals (b) the monetary/currency relation, where the state pursues its goals through providing currency and setting the interest rate (c) the tax relation, where the state pursues its goals by taxing private actors All of (a), (b) and (c) have changed dramatically over recent decades and it is a core task of applied international political theory to provide guidance as to what normative principles should govern them and what institutional arrangements would best advance the realisation of these principles.

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