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The proposition that increases in tax rates discourage market- sector production and may therefore, beyond a certain level, be counterproductive in raising tax revenue is an old issue in the eco- nomic literature. Its recent revival has generated considerable con- troversy and interest among...
Persistent link: https://www.econbiz.de/10010836665
This paper critically considers the neoclassical social-cost approach to problems of pollution. This traditional approach, when subjected to close scrutiny, is found to be seriously wanting in applicability and consistency. A less ambitious alternative based on notions of strict liability is...
Persistent link: https://www.econbiz.de/10010836708
In order for a society to use its resources efficiently, property rights must be well defined, enforced, and transferable. By now, this basic conclusion of the modern property rights literature needs little defense. Examples abound of the resource waste that occurs when actors do not bear the...
Persistent link: https://www.econbiz.de/10010836783
The history of taxation from the earliest ages has been the history of the attempts of one class to make other classes pay the expenses, or an undue share of the expenses, of the Govern- ment. Aristocrats have always been trying to shift the taxes on to the people, and the people on to the...
Persistent link: https://www.econbiz.de/10010836820
At the outset I think it is important to recognize a fundamental con- ceptual distinction. That distinction is between wildlife as an input into a production process and wildlife as an output valued by hu- mans. The nature of economic goods is such that raw inputs are sel- dom valued for...
Persistent link: https://www.econbiz.de/10010836878
The contemporary American city serves as evidence of government failure and as a focal point for crisismongering. In … city is most responsive to human aspirations when government is least intrusive. At no point do I argue that the market …, though I do favor drastically diminished government interven- tion in the cities, both to improve the potential for economic …
Persistent link: https://www.econbiz.de/10010661599
of exchange are not determined by buyers and sellers, however, but by the government or a legislature, then the assurance … of mutual advantage breaks down. Indeed, if the government sets the terms of exchange (by price fixing, for instance …
Persistent link: https://www.econbiz.de/10010661650
The end ofWorld War II marked the birth of the modern chemical industry. From that time synthetic rubbers, fibers, and complex organohalogens have been produced in large commercial quan- tities, such that each member of modern society is exposed to chemicals of exotic physiocheniical activity....
Persistent link: https://www.econbiz.de/10010661780
20 years, what had been a classic division of functions between the Federal Government and the States and localities has … become a confused mess. Traditional understandings about the roles of each level of government have been violated." The … source of the problem has been the intrusion of the federal government into many state and local matters with a consequent …
Persistent link: https://www.econbiz.de/10010661899
In this paper I will focus on risk controversies of a familiar type: Someone in one locale is concerned about being seriously injured as a result of human activities carried on elsewhere. The discussion will be limited to risks that are unintentional in the sense that no one is deliberately...
Persistent link: https://www.econbiz.de/10010661936