세계금융의 바퀴에 모래 뿌리기: 토빈세/금융거래세의 정치경제
Throwing Some Sand in the Wheels of Global Finance: The Political Economy of Tobin Tax/Financial Transaction Tax
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초록
금융세계화와 금융화는 대규모 금융위기를 빈번히 발발하게 하고, 자유민주주의의 작동에 큰 위협이 된다. 토빈세/금융거래세는 비생산적이고 불필요한 금융거래의 양을 줄여 금융시장에 거품의 형성을 막음으로써 금융위기의 발생을 사전에 차단하고, 금융이 실물경제를 지배하는 것이 아니라 하인으로서 봉사하게 할 강력한 수단이다. 세계금융위기 이후 토빈세는 포괄적인 금융거래세로 진화했고, 세계적․지역적․국가적 차원에서 그 도입을 위한 다양한 시도가 이루어졌다. 그러나 이러한 시도들은 매우 제한적인 성공을 거두는 데 그쳤다. 금융의 ‘구조적 권력’을 이용한 금융권의 반대 캠페인과 강력한 지지세력 동원이 일반 금융거래세 도입을 위한 시도들을 좌절시켰기 때문이다. 금융세계화와 금융화에 따른 피해가 막대하지만, 이를 극복할 수 있는 강력한 수단인 토빈세/금융거래세 도입의 전망은 금융부문의 세력이 증대하면서 더욱 어두워지고 있다. 이러한 악순환을 극복하기 위한 좋은 기회를 가지려면, 또 다시 세계금융위기가 일어났을 때 토빈세/금융거래세 도입을 위한 준비가 잘 돼 있어야 한다. 그렇지 않으면 다음 위기도 허비할지 모른다.
Abstract
Financial globalization and the so-called financialization have caused frequent outbreaks of the big financial crisis and have been threatening the well-functioning of liberal democracies. The introduction of Tobin tax and/or financial transaction tax can be an effective and strong means for the prevention of recurring financial crisis by reducing unproductive and unnecessary financial transactions and thus barring the buildup of financial bubbles. It can also help ensure the financial sector to work for the real economy as its servant instead of dominating it as its master. Since the outbreak of the recent global financial crisis, Tobin tax has evolved into a general financial transaction tax, and various attempts have been made to adopt it at global, regional, and national levels. However, they have been ended up with extremely limited success due to the strong oppositions from the financial sector through its effective mobilization of the structural power. Financial associations waged a series of powerful campaigns against the new tax and mobilized their allies in the industrial sector and the financial community including central banks and financial ministries. The progress of financial globalization and financialization has brought about grave damages to the real economy and society while enhancing the power of the financial sector in obstructing any initiatives for Tobin tax and/or financial transaction tax. This is a vicious circle set in motion and we probably have to wait to try to break it until a new and bigger global financial crisis occurs.
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