creating a strong bias against public investments essential to structural transformation and long-run growth. (Wyplosz, 2007; Alkyuz, 20A7; UNCTAD,2008) This is not to argue that the goal of macroeconomic stabiliiy, which underpins much of DSA, has no place in human rights based public finance. Stability is an important goal given the inherent instability of capitalist economies. ln recent decades, globalization, the integration of developing economies with the world capitalist system, has generated an increasing frequency of cross-border financial crisis, making macroeconomic stability an important goal in developing countries. Unlike in the standard view, which sees instability as emanating from government profligacy and irresponsibility, this instability is rooted in the nature of capitalist accumulation as elaborated in the fact that investment decisions in a capitalist economy are based on highly unstable expectations of future profits. (Keynes, 1937; Minsky, 1986) The latter view leads to a radically different policy implication: maintaining stability requires a government that is big enough to offset fluctuations in private sector investments, business profits, and private demand for safe assets. (Minsky, 1986) Obligation to mobilize and devote the maximum available resources to progressively realize human rights HRBA to public finance emphasizes the obligation to mobilize the maximum available resources and to make maximum use of these resources to progressively realize human rights, in line with Article 2.1 of the lnternational Covenant on Economic, Social and Cultural Rights.a It is important to note that available financial resources are not static and may change over time. A strong and efficient tax system, for instance, contributes to greater financial resources; conversely, leakages and wastage in tax collections could substantially reduce a country's available financial resources. While human rights has not indicated a threshold or figure that quantifies the financial needs related to the obligation to mobilize and make maximum use of available resources, human rights recognize that the country must set its own objective threshold to establish the amount of financial resources it needs to mobilize and spend in order to realize human rights for all. When mobilizing financial resources, human rights recognize that "[]ow levels of domestic taxation revenue can be a major obstacle to a State's ability to meet obligations to realize economic, social and cultural rights." (Carmona, 2011) So human rights require the collection of sufficient taxation revenues to finance goods, services and facilities that supporl the realization of human rights. This may entail measures that plug tax leakages, immobilize smuggling, rationalize the tax structure, increase tax collection efforts and address all forms of corruption, including tax evasion. o Article 2.1 of the lnternational Covenant on Economic, Social and Cultural Rights states: "Each State Party to the present Covenant undertakes to take steps, individually and through international assistance and co-operation, especially economic and technical, to the maximum of its available resources, with a view to achieving progressively the full realization of the rights recognized in the present Covenant by all appropriate means, including padicularly the adoption of legislative measures." 28