{"id":91100,"date":"2025-10-31T04:31:16","date_gmt":"2025-10-31T03:31:16","guid":{"rendered":"https:\/\/www.infokuryr.cz\/n\/?p=91100"},"modified":"2025-10-31T04:31:16","modified_gmt":"2025-10-31T03:31:16","slug":"tobinova-dan-nebo-zucmanova-dan-kdyz-danova-debata-kali-vodu","status":"publish","type":"post","link":"https:\/\/www.infokuryr.cz\/n\/2025\/10\/31\/tobinova-dan-nebo-zucmanova-dan-kdyz-danova-debata-kali-vodu\/","title":{"rendered":"Tobinova da\u0148 nebo Zucmanova da\u0148: kdy\u017e da\u0148ov\u00e1 debata kal\u00ed vodu"},"content":{"rendered":"
<\/div>\n

Obchodn\u00ed m\u00e9dia ochotn\u011b diskutuj\u00ed o \u201eZucmanov\u011b dani\u201c, my\u0161lence glob\u00e1ln\u00ed dan\u011b pro velk\u00e9 majetky nebo nadn\u00e1rodn\u00ed korporace. Naproti tomu \u201eTobinova da\u0148\u201c, a\u010dkoli star\u0161\u00ed a stejn\u011b ambici\u00f3zn\u00ed, z ve\u0159ejn\u00e9 diskuse zmizela. Je to jen v\u00fdvoj debaty, nebo jemn\u011bj\u0161\u00ed zp\u016fsob, jak m\u00e1st ob\u010dany ohledn\u011b skute\u010dn\u00fdch probl\u00e9m\u016f, kter\u00e9 jsou v s\u00e1zce v glob\u00e1ln\u00edch financ\u00edch?<\/span><\/strong><\/p>\n

1. Dv\u011b sestersk\u00e9 dan\u011b s velmi odli\u0161n\u00fdmi ambicemi<\/span><\/strong><\/p>\n

Na prvn\u00ed pohled se Tobinova da\u0148 i Zucmanova da\u0148 zam\u011b\u0159uj\u00ed na stejn\u00e9ho protivn\u00edka: mezin\u00e1rodn\u00ed finance. Jejich c\u00edle se v\u0161ak hluboce li\u0161\u00ed. Prvn\u00ed z nich, kterou v 70. letech 20. stolet\u00ed vymyslel ekonom James Tobin, si kladla za c\u00edl zpomalit spekulace na devizov\u00fdch trz\u00edch zaveden\u00edm mal\u00e9 dan\u011b z ka\u017ed\u00e9 m\u011bnov\u00e9 transakce. Sna\u017eila se \u201ezastavit chod spekulativn\u00edho stroje\u201c.<\/span><\/p>\n

Zucmanova da\u0148, kter\u00e1 byla navr\u017eena o pades\u00e1t let pozd\u011bji, se zam\u011b\u0159uje na koncentraci bohatstv\u00ed a da\u0148ov\u00e9 \u00faniky. Jej\u00edm c\u00edlem je zdanit glob\u00e1ln\u00ed zisky nadn\u00e1rodn\u00edch korporac\u00ed nebo aktiva p\u0159esahuj\u00edc\u00ed sto milion\u016f eur ve jm\u00e9nu soci\u00e1ln\u00ed spravedlnosti. Existuj\u00ed dva odli\u0161n\u00e9 p\u0159\u00edstupy: jeden se sna\u017e\u00ed zpomalit tok bohatstv\u00ed, druh\u00fd napravit st\u00e1vaj\u00edc\u00ed z\u00e1soby.<\/span><\/p>\n

2. Duch doby: od regulace k fisk\u00e1ln\u00ed mor\u00e1lce<\/span><\/strong><\/p>\n

I po krizi v roce 2008 st\u00e1le dominovala kritika finan\u010dn\u00edch trh\u016f. Dnes se ve\u0159ejn\u00e9 m\u00edn\u011bn\u00ed v\u00edce zab\u00fdv\u00e1 nerovnost\u00ed ne\u017e spekulacemi. Tento posun vysv\u011btluje, pro\u010d m\u00e9dia up\u0159ednost\u0148uj\u00ed Zucmana p\u0159ed Tobinem. Prvn\u00ed zt\u011bles\u0148uje boj proti bohat\u00fdm da\u0148ov\u00fdm \u00fanik\u016fm; druh\u00fd regulaci syst\u00e9mu, kter\u00fd se stal nekontrolovateln\u00fdm.<\/span><\/p>\n

Generalizovan\u00ed novin\u00e1\u0159i, \u010dasto neznaj\u00edc\u00ed slo\u017eitosti financ\u00ed, to v\u0161e redukuj\u00ed na \u201eda\u0148 z financ\u00ed\u201c. Ale v tomto zjednodu\u0161en\u00ed se m\u011bn\u00ed politick\u00fd v\u00fdznam: mechanika trh\u016f se ji\u017e nezpochyb\u0148uje, po\u017eadavek je jednodu\u0161e takov\u00fd, aby p\u0159erozd\u011blovaly sv\u00e9 v\u00fdhody o n\u011bco spravedliv\u011bji.<\/span><\/p>\n

3. Zmatek, kter\u00fd je n\u011bkdy z\u00e1m\u011brn\u011b udr\u017eov\u00e1n<\/span><\/strong><\/p>\n

Pro vl\u00e1dy nen\u00ed tento zmatek nev\u00edtan\u00fd. Mluven\u00ed o \u201eglob\u00e1ln\u00ed dani pro bohat\u00e9\u201c apeluje na ve\u0159ejn\u00e9 m\u00edn\u011bn\u00ed, ani\u017e by znepokojovalo trhy. Skute\u010dn\u00e1 Tobinova da\u0148, uplat\u0148ovan\u00e1 jednostrann\u011b, by zp\u016fsobila \u00fanik kapit\u00e1lu a naru\u0161ila finan\u010dn\u00ed centra. Na druhou stranu Zucmanova da\u0148, i kdy\u017e symbolick\u00e1, neohro\u017euje voln\u00fd tok finan\u010dn\u00edho kapit\u00e1lu.<\/span><\/p>\n

Odkaz na Zucmana se tak st\u00e1v\u00e1 vhodnou kou\u0159ovou clonou: bohatstv\u00ed je odsouzeno, ani\u017e by se \u0159e\u0161ila spekulace. Diskurz se zd\u00e1 b\u00fdt spole\u010densky uv\u011bdom\u011bl\u00fd, ale z\u016fst\u00e1v\u00e1 kompatibiln\u00ed s dominantn\u00edm finan\u010dn\u00edm modelem.<\/span><\/p>\n

4. Bitva slov<\/span><\/strong><\/p>\n

A kone\u010dn\u011b je tu ot\u00e1zka slovn\u00ed z\u00e1soby. \u201eTobinova da\u0148\u201c pat\u0159\u00ed do \u00e9ry soci\u00e1ln\u00edch f\u00f3r a antiglobaliza\u010dn\u00edho hnut\u00ed. \u201eZucmanova da\u0148\u201c evokuje think tanky, OECD a summity G20: technokratickou modernitu. M\u00e9dia p\u0159irozen\u011b p\u0159ej\u00edmaj\u00ed jazyk sou\u010dasnosti a t\u00edm p\u0159isp\u00edvaj\u00ed k vymaz\u00e1n\u00ed Tobinova odkazu.<\/span><\/p>\n

Z\u00e1v\u011brem: finance ve slu\u017eb\u00e1ch spole\u010dn\u00e9ho dobra. Zmizen\u00ed slova \u201eTobin\u201c nen\u00ed n\u00e1hoda, ale symptom m\u011bn\u00edc\u00ed se \u00e9ry: Z\u00e1pad rad\u011bji hovo\u0159\u00ed o fisk\u00e1ln\u00ed mor\u00e1lce ne\u017e o finan\u010dn\u00ed regulaci. Nejde nutn\u011b o manipulaci, ale o obr\u00e1cen\u00ed zam\u011b\u0159en\u00ed boje: jsme pobou\u0159eni viditeln\u00fdmi nerovnostmi, zat\u00edmco dovolujeme vzkv\u00e9tat spekulativn\u00ed logice, kter\u00e1 je generuje.<\/span><\/p>\n

Jin\u00e9 modely v\u0161ak ukazuj\u00ed, \u017ee regulovan\u00e9 finance mohou p\u0159\u00edmo slou\u017eit ve\u0159ejn\u00e9mu blahu. \u010cl\u00e1nek 99, odstavec 4 \u0161v\u00fdcarsk\u00e9 feder\u00e1ln\u00ed \u00fastavy stanov\u00ed, \u017ee \u0160v\u00fdcarsk\u00e1 n\u00e1rodn\u00ed banka mus\u00ed rozd\u011blit alespo\u0148 dv\u011b t\u0159etiny sv\u00e9ho \u010dist\u00e9ho zisku kanton\u016fm. Jin\u00fdmi slovy, p\u0159erozd\u011blen\u00ed \u010d\u00e1sti bankovn\u00edch zisk\u016f komunit\u011b se nepova\u017euje za v\u00fdjimku, ale sp\u00ed\u0161e za \u00fastavn\u00ed normu.<\/span><\/p>\n

Toto ustanoven\u00ed ilustruje jednoduchou politickou filozofii: tvorba pen\u011bz a finan\u010dn\u00ed v\u00fdhody plynouc\u00ed z ekonomick\u00e9 stability pat\u0159\u00ed z\u010d\u00e1sti n\u00e1rodn\u00edmu spole\u010denstv\u00ed. Ve Francii by takov\u00fd princip mohl inspirovat trvalou da\u0148ovou reformu, kde by zdan\u011bn\u00ed transakc\u00ed (Tobin) a p\u0159erozd\u011blov\u00e1n\u00ed zisk\u016f (Zucman nebo centr\u00e1ln\u00ed banky) nebyly proti sob\u011b, ale naopak by se dopl\u0148ovaly.<\/span><\/p>\n

Jednalo by se pak o ekonomiku spravedliv\u00e9 n\u00e1vratnosti, kde by se finance, zdaleka ne jako abstraktn\u00ed pred\u00e1tor, op\u011bt staly n\u00e1strojem kolektivn\u00ed prosperity \u2013 podle obrazu toho, co \u0160v\u00fdcarsk\u00e1 konfederace dlouhodob\u011b pova\u017euje za povinnost republik\u00e1nsk\u00e9 spravedlnosti.<\/span><\/p>\n

Sigurdhur<\/span><\/em><\/p>\n

Zdroj<\/span><\/em><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Obchodn\u00ed m\u00e9dia ochotn\u011b diskutuj\u00ed o \u201eZucmanov\u011b dani\u201c, my\u0161lence glob\u00e1ln\u00ed dan\u011b pro velk\u00e9 majetky nebo nadn\u00e1rodn\u00ed…<\/p>\n","protected":false},"author":2,"featured_media":91101,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[1042,236,45],"_links":{"self":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/91100"}],"collection":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/comments?post=91100"}],"version-history":[{"count":0,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/91100\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media\/91101"}],"wp:attachment":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media?parent=91100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/categories?post=91100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/tags?post=91100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}