Frank Bechling recently wrote that "the concentration on the trade-off between unemployment and inflation and the neglect of trade-offs between unemployment and other variables (balance of payments, economic growth, structural change, and income distribution) may lead to a suboptimal choice...

When the structure of tax revenues–the proportion of revenues earned by income, consumption and wealth taxes–is treated as a pure public good, a useful framework emerges for analyzing interrelationships among taxpayers' preferences, tax structure and tax reform. The...