You are browsing the archive for 2014 April 25.

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The Mises View: “Common Sense on Inequality”

April 25, 2014 in Economics

By Mises Updates

Peter Klein talks about inequality—how people are different, what determines income and wealth on the free market, why elites are so excited about Thomas Piketty’s new book on capital, and how attempts to reduce aggregate inequality through progressive taxation are fraught with difficulty.

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Source: MISES INSTITUTE

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Two French Austrian-School Economists

April 25, 2014 in Economics

By Mises Updates

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Guido Hülsmann writes in response to today’s Mises Daily:

Mr Rouanet quotes a book by Schweitzer and Floury, two Austro-libertarian economists from the University of Aix-en-Provence  and the Institut Catholiques des Etudes Supérieures. It can be found online here.

The book includes a preface by Mises Institute Senior Fellow Pascal Salin.

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Source: MISES INSTITUTE

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The Big, Bad Market: A French Psychosis?

April 25, 2014 in Economics

By Mises Updates

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Louis Rouanet writes in today’s Mises Daily:

But despite this crazy fiscal policy, French economists, who are rather statist and Keynesian, ignore the Laffer curve and the inefficiency of taxation. Instead of admitting the disastrous effects of taxes on capital accumulation and growth, there has been a debate about taxation of labor and capital. Indeed, some economists, such as Thomas Piketty, wrongly affirm that, in France, labor is more taxed than capital. This shows how disconnected to reality the debate has become. Pascal Salin, an economist belonging to the Austrian School, demonstrates that contrary to Piketty, income from capital is far more taxed than income from labor. However, nobody cares about overtaxation of capital because they think that equates to taxing the rich, and those inspired by Keynesianism think that consumption, and not capital, is the key for economic growth.

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Source: MISES INSTITUTE