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A duty to vote may be interpreted narrowly as no more than an obligation to cast one’s ballot, supporting a party or candidate in one’s own interest exclusively or, if one so pleases, with some regard for the community as a whole. Alternatively, a duty to vote may be interpreted...
Persistent link: https://www.econbiz.de/10009003126
People vote from self-interest or from a sense of duty. Voting from self-interest requires there to be some chance, however small, that one's vote swings the outcome of the election from the political party one opposes to the political party one favours. This paper is a discussion of three...
Persistent link: https://www.econbiz.de/10009003127
Government by majority rule voting requires that compromise be attainable, but not too easily. Little of the nation's business could be transacted without an ability on the part of the legislators and political parties to strike bargains, but government by majority rule voting could not...
Persistent link: https://www.econbiz.de/10008680681
Important as it is for public policy, there is still no consensus about the size of the revenue-maximizing tax rate at the top of the Laffer curve. The purpose of this essay is not to supply a correct rate, but to identify difficulties in doing so. 1) Estimates of the revenue-maximizing tax rate...
Persistent link: https://www.econbiz.de/10010721568
Through tax evasion, through the labour-leisure choice or in other ways, taxpayers reduce the tax base in response to an increase in the tax rate. The process is commonly-believed to generate a humped Laffer curve with a revenue-maximizing tax rate well short of 100%. That need not be so. In the...
Persistent link: https://www.econbiz.de/10011098363
The effect of a widening of the distribution of income upon society's choice of the amount of redistribution is a balancing of two opposing forces: the increase in redistribution in response to the increased ratio of mean to median income and the decrease in response to the greater advertising...
Persistent link: https://www.econbiz.de/10010615127
We know that people strike bargains and that civilized life could not proceed otherwise. We do not know how bargains are struck. We have no explanation of bargaining, comparable to the general equilibrium in the economy, accounting for essential features of bargaining as we know it with...
Persistent link: https://www.econbiz.de/10004964416
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Public decision-making by majority rule is open to the danger of exploitation of minorities by majorities. Since any majority can employ the vote to expropriate the corresponding minority, it would seem that there can be no electoral equilibrium allocation of income or transfers in a democratic...
Persistent link: https://www.econbiz.de/10005787705