Economic
Taxes generate income for governments, enabling them to meet needs not met by the private economy.
Following the Great Depression and World War Two, corporate elites agreed they’d benefit from broad prosperity and strong unions. Since the mid-1970s, however, there’s been a significant shift in global socio-economic dynamics.
Laws in many countries undercut unions. Governments have increasingly withdrawn from social responsibilities, leading to a sharp rise in economic inequality. In wealthy nations, the most affluent individuals now pay less tax.
Offshore tax havens hold some 10% of the world’s GDP, costing countries billions of dollars annually in lost revenue. Countries attract foreign capital with lower tax rates and secrecy.
Democratic approaches to organizing the economy go beyond unfettered capitalism and state socialism and traditional liberal and conservative paradigms. The primary solution is moral: a commitment to promote the public good.
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