Volume 13, Number 1 (Spring 2010)

ABSTRACT: While corporate income taxation is a major issue in the debate over international finance, economic theory has no clear stance on who bears its burden. On balance, economists seem still more prone to accept that taxing profits does not affect corporations’  outcomes. This paper makes three cases for non-neutrality. First, since corporate income taxation is asymmetric between profit and loss, the tax rate may change the ranking of alternative investments.

Volume 13, Number 1 (Spring 2010)

ABSTRACT:

Volume 13, Number 1 (Spring 2010)

ABSTRACT: This paper explains how grants of monopolistic privileges to capitalists can lower labor and land factors’ prices compared to what would prevail in a free market environment. Monopoly gains of privileged business owners are not only “extracted” from their clients but also from factor owners. We revisit Rothbardian monopoly price theory and extend it to the realm of factor pricing.

Volume 13, Number 1 (Spring 2010)

Volume 13, No. 1 (Spring 2010)

Volume 13, Number 2 (Summer 2010)

Volume 13, Number 2 (Summer 2010)

Volume 13, Number 2 (Summer 2010)

Volume 13, Number 2 (Summer 2010)

Volume 13, Number 2; Summer 2010

Selgin (2009) offers a challenge to 100 percent reserve banking by noting that small change would be unprofitable with 100 percent reserve money. This minor challenge fails firstly because 100 percent reserve banking does not require 100 percent  reserve money, only market determined money. Small change is shown here to not be a problem in the free market. Evidence from Richard Cantillon (1730) suggests that in the absence of government coercion, small change was not a problem.