Financing the Global Sharing Economy
Description
"According to research in a new report by Share The World’s Resources (STWR), governments could harness more than enough money to reverse policies of economic austerity, prevent life-threatening deprivation and mitigate the human impacts of climate change. By utilising the policy options summarised below, we could mobilise over $2.8 trillion every year to bolster the sharing economy both within and between nations. These figures are only broad estimates, but they demonstrate the potential for governments to collect and redistribute huge quantities of additional public finance for critical human needs – often money that they have led the public to believe does not exist or cannot be found.
- Tax financial speculation: $650bn
- End fossil fuel and biofuel subsidies: $531bn
- Divert military spending: $434.5bn
- Stop tax avoidance: $349bn
- Increase international aid: $297.5bn
- End support for agribusiness: $187bn
- Redistribute IMF resources: $115.5bn
- Tax carbon emissions: $108bn
- Cancel unjust debt: $81bn
- Protect import tariffs: $63.4bn
Total: $2,816.9bn
The structures, mechanisms and expertise needed to utilise this additional finance have long been in place. For example, there are numerous international agencies working ceaselessly to provide disaster relief and prevent poverty-related deaths throughout the world. The international community has already established an array of funds and other programs to facilitate climate change adaptation and mitigation programs in developing countries. And in terms of social protection, many low-income countries already have various systems of welfare in place to provide essential public services to their citizens. According to calculations by the United Nations, it could be possible to ensure that a basic level of social protection is available to the world’s poor for as little as 2% of global GDP."
(https://www.commondreams.org/view/2012/10/17-2)