{"resolved":true,"match_type":"uuid","source_type":"original_book","book_id":"6dfd053e-a721-41da-a147-63bee43ea5ea","title":"Fully Automated Luxury Communism A Manifesto","author":null,"edition":null,"publisher":null,"year":null,"isbn":"9781786632623","requested_by":"printed_page","book":{"source_type":"original_book","book_id":"6dfd053e-a721-41da-a147-63bee43ea5ea","id":"6dfd053e-a721-41da-a147-63bee43ea5ea","uuid":"6dfd053e-a721-41da-a147-63bee43ea5ea","title":"Fully Automated Luxury Communism A Manifesto","normalized_title":"fullyautomatedluxurycommunismamanifesto","author":null,"edition":null,"publisher":null,"year":null,"isbn":"9781786632623","isbns":["9781786632623","9781788732468","9781786632654","9781786632647"],"parsed":true,"ai_readable":true,"document_type":"book","page_count":288,"navigation_url":"https://workshop.closeclaw.top/ai/book/6dfd053e-a721-41da-a147-63bee43ea5ea","title_url":"https://workshop.closeclaw.top/ai/title/Fully%20Automated%20Luxury%20Communism%20A%20Manifesto","fixed_page_url_template":"https://workshop.closeclaw.top/ai/book/6dfd053e-a721-41da-a147-63bee43ea5ea/page/{printed_page}","path_api_url_template":"https://workshop.closeclaw.top/api/ai/book/6dfd053e-a721-41da-a147-63bee43ea5ea/page/{printed_page}","read_url":"https://workshop.closeclaw.top/api/ai/read/6dfd053e-a721-41da-a147-63bee43ea5ea","page_url":"https://workshop.closeclaw.top/api/ai/books/6dfd053e-a721-41da-a147-63bee43ea5ea/page","search_url":"https://workshop.closeclaw.top/api/ai/books/6dfd053e-a721-41da-a147-63bee43ea5ea/search"},"page":{"printed_page":230,"pdf_page":239,"physical_index":239,"physical_index_base":0,"printed_page_status":"recognized","page_sha256":"372aecc80ba9afc3f282ceeb1f73ce25d2d6172dbe763e6c0034cea0e8f26490"},"chapter":"Fully Automated Luxury Communism","content":"But it is also clear that additional protocols will be needed in the management of capital flows. A financial transactions tax on currency trading would be an obvious means of capital control. This tax would be levied at two variable rates: the lower one, which could be as little as 0.005 per cent would be imposed on day-to-day transactions in order to curb volatility, while a higher one would be deployed in the case of speculative attacks or large capital outflows – a probability as ever more countries turn their back on neoliberalism. The necessary conditions for implementing the higher rate, which would be akin to a ‘windfall tax’ on profits made from speculative attacks, would again be determined by central banks. Yet regardless of that it would be a crucial instrument against global financial interests whose primary weapon is capital mobility across borders.\n\nBut that isn’t everything, because the final piece in changing the financial architecture to enable the transition to FALC is perhaps the most important. It involves the progressive socialisation of finance and capital markets.\n\nA Socialised Capital Market\n\nAs the end drew nearer for the USSR and Eastern Bloc in the late 1980s, dissident intellectuals were eager to draw lessons from a system which despite its best intentions was now failing to deliver rising living standards on a par with the West. Włodzimierz Brus and Kazimierz Łaski were two such thinkers, socialist economists and followers of the distinguished Marxist–Keynesian Michał Kalecki. In From Marx to the Market, published in England in 1989, they assessed the prospects for socialist economics with the demise of the Soviet project. Both had been influential proponents of democratic reforms for decades, with Łaski forced to leave Poland in 1968 and Brus in 1972.\n\n230\n\nparadise found","previous_page":229,"next_page":231}