As we know, Socrates said that the “unexamined life is not worth living”. We might equally say that the unexamined economy is not capable of securing our common well-being. It is our obligation to address the fault lines that exist in the global financial architecture and to seek to remedy them.
If the children born in the European Union today expect to live in a stable, sustainable, and sane world, then every child born in Ethiopia, Indonesia, or Bolivia, needs to have the same expectation. We live on a small planet and we are all connected.
There are two important global issues that we need to address if we wish to protect future generations. One is the issue of deepening inequality in almost every country and region in the world. As we all know, extreme inequality is not caused by nature. It is a product of laws and the exercise of power.
The second issue is the need for a fairer distribution of the rewards of globalization. International tax rules determine how nations share the fiscal gains of globalization (who should pay, how much, and to whom) and need to be our focus if we wish to live in a more just and equitable world.
The two issues mentioned above underlie the close linkage between tax justice and social justice. Very simply, tax resources are needed if we are to reduce inequality, eradicate poverty, and fulfill human rights.