Proprietary Policy and Production
I present a model of a proprietary regime with opportunities for direct production (e.g.,plantation cultivation, mining extraction). The premise is that direct production is a superiormethod of appropriation than taxation. The tax and spending policy of the regime distorts the resource allocation in favor of direct production and at a loss of private production; the welfare of the population suffers while the regime benefits. I examine the relevance of the model to the policies of actual proprietary regimes.
Year of publication: |
2006-01
|
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Authors: | Jeong, Byeongju |
Institutions: | Center for Economic Research and Graduate Education and Economics Institute (CERGE-EI) |
Saved in:
freely available
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