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| Author: | Stiglitz, J. |
| Title: | Globalization and the economic role of the state in the new millennium |
| Journal: | Industrial and Corporate Change
2003 : FEB, VOL. 12:1, p. 3-26 |
| Index terms: | GLOBALIZATION ECONOMIC INTEGRATION TAXATION ANALYTICAL REVIEW |
| Language: | eng |
| Abstract: | This essay concerns the process of globalization, the integration of economies around the world which has put new demands on nation-states at the very same time that, in many ways, it has reduced their capacities to deal with those demands. The nation-state today is squeezed, on the one side, by the forces of global economics and, on the other side, by the political demands for devolution of power. An example of the constraints that have been imposed by globalization are the difficulties of taxation. With capital being movable from one jurisdiction to another, if one tries to impose a stronger taxation on capital, capital simply moves out. |
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