Economic Freedom

Actually it took a surprisingly long time, until the financial crisis brought forth a protest movement, but now it seems so far. On 15 October went from Tokyo to Frankfurt to New York demonstrators to the streets to protest against the banks, the financial markets, inequality and much else. The origins of all in New York, to “Occupy Wall Street” movement, thus: “Busy Wall Street”.Shortly thereafter came the first offshoot in other American cities, and now also in other continents. Globalization does not just consumer goods.

Demonstrations outwardly appear to be quite heterogeneous. The Americans care about plenty of bizarre manners, as seen in this video. Applause is forbidden, he is considered to be repressive, but instead are intended as an expression of consent silent gestures. Moreover, everything a speaker says, repeated by the crowd. While in the U.S. so well – in spite of the motto “We are the 99 percent” – actually has to do with unconventional sectarian groups, we looked at the pictures of the German demonstrations in addition to the usual suspects of attacking and Left Party especially many typical Wutbürger the middle class.

Now we must not expect

Spite of worldwide protests by saying that a world revolution is imminent. From New York is the number of participants in the low four figures reported there were about 8,000 in Frankfurt While some maintain this resistance an amazing pathos and probably forget that they demonstrate in open democracies and not in China or Syria. But the previously stated objectives but work mostly vague and ill-conceived or where it is concrete, contradictory. Shall ask about the American branch of the movement both import tariffs and an extensive renunciation of international trade, but also the complete opening of borders to international migration. That the two do not go together but should be obvious.

Otherwise, of course: higher income taxes for the rich and those which it is held to introduce the wealth tax return, a transaction tax on financial markets, a somewhat tighter regulation of financial markets and especially the banks, or equal to the total abolition “of the interest system “. Nonsensical fundamental critique of the market economy takes a total time that is just as problematic Detailfoderungen: The historical experience with the property tax, not only in Germany shows that this is a fairly pay low tax, of which we are fiscally hope not much. In the proportional income tax zone begins with a marginal tax rate of 42% to just under 53,000 euros. Will you now cause really been here loads of over 50%

Course it is asking too much of a protest movement to present a sophisticated concept as a more efficient regulation of financial markets. But the belief in the ability to solve problems of the state seems a little too pronounced. An example to remember: It is now about three and a half years since Bear Stearns needed a bailout. Likewise, long ago, that governments around the world undertook to regulate the banking sector is so new that one too big to fail should be excluded in future. Happened since then has been little critical. Is this just an enforcement issue? Governments are firmly in the hands of the bank lobby? Something of that kind, the representatives of the protest movement would argue that, but there is also another way: This is simply a very difficult problem to solve, not only economically but also in terms of political and constitutional enforceability. The policy is at its capacity limit, or perhaps even beyond.

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