The Tobin tax comes from the American economist and Nobel Prize winner James Tobin. The speculative tax on international foreign exchange transactions, proposed in 1972, was never introduced. Tobin had suggested that a very low tax should be levied on all foreign exchange transactions in order to curb short-term speculation on currency fluctuations.
Today, globalization critics are also calling for Attac and many non-governmental organizations to introduce such a Tobin tax of 0.10 - 0.25 percent. The proceeds from this financial policy instrument are intended to support the fight against poverty and environmental damage in the Third World.
The idea, which goes back to the Nobel laureate in economics, James Tobin, to impose a tax in the per mille range on cross-border foreign exchange transactions in order to restrict international foreign exchange speculation and arbitrage transactions. However, implementation would be difficult because all states would have to levy and enforce a corresponding tax.