This book provides a historical understanding of current debates over tax reform and offers a comparative framework for discussing the relationship between fiscal policy and the distribution of income and wealth. Topics covered include the evolution of income taxation since World War II; the...

Am Beispiel historischer Personenkorporationen wird untersucht, welche moralischen Leitbilder hinter einem Fuersorgewesen traditionellen Zuschnitts stehen. Gewisse ethische Grundsaetze blieben ueber Jahrhunderte konstant. Weil die Korporationen die Unterstuetzung ihrer Beduerftigen aus...

Investors have too often extrapolated from recent experience. In the 1950s, who but the most rampant optimist would have dreamt that over the next fifty years the real return on equities would be 9% per year? Yet this is what happened in the U.S. stock market. The optimists triumphed. However,...