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On the Principles of Political Economy and Taxation (19 April 1817) is a book by David Ricardo on economics. [1] The book concludes that land rent grows as population increases. It also presents the theory of comparative advantage , the theory that free trade between two or more countries can be mutually beneficial, even when one country has an ...
Several theories of taxation exist in public economics. Governments at all levels (national, regional and local) need to raise revenue from a variety of sources to finance public-sector expenditures .
Mill discusses his ideal system of taxation, promoting a tweaked version of proportional taxation that at a lower limit gives exemption to those earning less than the limit. Book V touches on the outdated idea of “double taxation,” which has turned into a debate on the usefulness of the expenditure tax in contemporary tax reform debates. [8]
Laffer explains the model in terms of two interacting effects of taxation: an "arithmetic effect" and an "economic effect". [7] The "arithmetic effect" assumes that tax revenue raised is the tax rate multiplied by the revenue available for taxation (or tax base). Thus revenue R is equal to t × B where t is the tax rate and B is the taxable ...
Principles of Economics [1] is a leading political economy or economics textbook of Alfred Marshall (1842–1924), first published in 1890. [2] [3] It was the standard text for generations of economics students. Called his magnum opus, [4] it ran to eight editions by 1920. [5]
Tax policy refers to the guidelines and principles established by a government for the imposition and collection of taxes. It encompasses both microeconomic and macroeconomic aspects, with the former focusing on issues of fairness and efficiency in tax collection, and the latter focusing on the overall quantity of taxes to be collected and its ...