Ways of Paying for Global Public-Goods

simple schedule of governmental contributions, of paying for global public-goods and common purposes: use of IMF Special Drawing Rights (SDRs); the United Kingdom’s International Finance Facility (IFF); and globally-coordinated taxes (on arms exports, deepocean mineral rents, international air transport, greenhouse-gas emissions, or currency transactions). There is discussion of whether the various possible taxes might have political advantages over a schedule of governmental contributions; of their revenue possibilities; and of equity considerations. Promising, the paper argues, provided what are essentially prejudices can eventually be overcome, are a global tax on currency transactions, SDRs (for certain specific purposes), and (with qualifications and probably modifications) the IFF.