Suchergebnisse

Contents: Introduction -- 1. The Destructive Nature Of Taxes -- 2. The Myth Of Progressive Taxation -- 3. The Overtaxation Of Capital -- 4. Immoral And Harmful : Inheritance Taxes -- 5. The Cascade Of Taxes -- 6. Capitalism In Peril -- 7. Freeing Savings -- 8. A Firm Does Not Pay Taxes -- 9. Choosing One's Life -- 10. A European Single Market Without Tax Harmonization -- 11. Taxes For Which State ? -- 12. Consent To Taxation? -- Conclusion -- Index.

Competition -- Introduction -- The traditional competition model -- Breaches of atomistic competition -- A critical appraisal of the atomistic theory -- The entrepreneur and the dynamics of competition -- True and false breaches of competition -- How far competition? -- Free trade -- Justifications for free trade -- The effects of protectionism -- True and false barriers to trade -- Protectionist arguments -- The role of political processes -- Trade liberalization -- Historical landmarks -- Bibliography -- Index

Competition, or the freedom to enter into a market, contributes greatly to the differentiation of human activities and therefore to economic progress. This fascinating book highlights the similarities between human systems at both the micro and macro level, and demonstrates how competition can positively affect the economic workings of firms and countries. Pascal Salin explores a number of issues associated with competition and human diversity, with a particular focus on the European Union. Topics addressed include globalization and regulation, tax harmonization, monetary integration and currency issues, economic and monetary policies, and financial crises. The book concludes with a thorough discussion of the underlying economic theory and the vital differences between the Austrian approach and mainstream thought. This book will appeal to scholars and students of Austrian and public choice economics.

General introduction -- General introduction -- One: Currency Competition -- I. The theory of currency competition -- II. The history of currency competition -- III. The history of monetary thought on currency competition -- IV. The current debate: The return to gold and the liberalization of banking -- Two: Monetary Union -- to Part Two. Which monetary integration? -- V. The European Monetary System -- VI. Is the adjustable peg a viable option? -- VII. Freely flexible exchange rates or a common currency? -- VIII. Exchange controls for ever? -- IX. Towards a better European Monetary System -- Appendix to Bibliographical Note (Lawrence H. White) -- The authors -- Index of names.

Abstract
It is argued in that paper that Hayek came out the winner in the debate opposing him to Keynes. Keynes argued in favour of specific economic policies without a prior analysis of the causes of business cycles. His discussion of economic policy is backed on an ad hoc account of cycles that would, according to him, be based on the irrationality of economic actors and the non-effectiveness of price adjustments. As a result, he says, quantities have to adjust which leads to unemployment. Hayek and the Austrians propose, by contrast, a well-articulated theory of business cycles rooted in a micro-economic approach (agents are rational, albeit badly informed). This leads them to identify the source of the cycle in monetary shocks. In our modern economies, as in the Austrian theory, economic policies conducted by the states are the main driver of the cycles. The consequences of this analysis in terms of economic policy are clear: When excessive regulation and fiscal burden cause a recession the solution must be found in tax cuts and deregulation, not in (Keynesian) monetary or fiscal policies that will do nothing but foster mal-investment.