CAIRN-INT.INFO : International Edition

For the past two to three decades, the process of the globalization and financing of capitalism has gone hand in hand with a chronic State financial crisis. This crisis admittedly is related to an economic factor, the slowdown in growth, punctuated by serious recessions. But it is equally the result of two other phenomena, which this article proposes to study, using the case of the member countries of the OECD. From the second half of the 1970’s, there has been progressive adoption of a new policy in matters of public finance, consisting of restricting tax revenue in such a way as to augment the State deficit. The objective being to establish, in this way, a political and ideological climate favoring reduction of expenditures, on social services in particular, on the part of State, regional and local authorities and to shifting the tax burden for the benefit of capital investment. Important steps have been taken in this direction. This crisis has its roots in the fact that the process of globalization and financing curbs taxation of businesses and high revenue earners by increasing their opportunities for tax evasion and tax fraud, and exacerbating the international competition to offer tax incentives in which public authorities often engage.


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