In this paper we present a logical extension of the Laffer model that casts doubt on the above criticisms of supply-side economics. In particular, we show that (1) because of “dual taxations,†Reagan’s tax rate cuts will unambiguously lead to immediate (short-term) increases in...

In 1972 Congress established the Federal Water Pollution Control Act in which the Environmental Protection Agency was given responsibility to “restore and maintain the chemical, physical, and biological integrity of the nation’s waters.’’ Two national goals of...

Growth of the governmental regulation of economic activities since the depression is normally associated with industrial produc- tion.’ Indeed, pollution controls, work-safety requirements, and antitrust actions have recently been cited as contributing to declin- ing productivity and...

Conflict over the use and management of America’s forest lands and resources intensified during the 1970s, with debates over the use of the undeveloped lands inventoried by the Forest Service, the divi- sion of lands in Alaska, the establishment and expansion of certain national parks...

This paper has two purposes: to establish that the most frequently proposed form of value-added tax is really a proportional income tax rather than, as it is popularly seen, an inflationary, regressive sales tax; and to propose that this value-added tax be adopted as an alternative to all...

This paper addresses the important question: What is the proper role of the state in the general area of environmental regulation? The subject itself poses certain major difficulties for political theories which, whatever their differences, at least call for both a...

Economic analyses of bureaucracy have charged that public pro- duction tends to be more costly than optimal;’ the extra cost may be due to either technological or allocational ineuficiency.2 Conversely, the standard theory of regulation asserts that regulated industries produce too little...

Economists have long believed that government’s tax and expendi- ture policy either is, or can readily be made to be, neutral to the market. Free-market economists have advocated such neutrality of government, and even economists favoring redistributive actions by government have believed...

During man’s relatively brief existence on this planet,he has relied on the bounty of its flora and fauna for his existence. He has harvested wildlife for food, clothing, shelter, medicines, beasts of burden, pets, and companionship. Over most of this period, this harvesting and...

In the structure of national economy of the Russian Federation, the public sector plays a significant role. The state performs a critical function for the population, has the largest national enterprises which determines the economic situation in the country. However, despite the leading role of...