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Articles 1 - 6 of 6
Full-Text Articles in Social and Behavioral Sciences
Introduction, Ken Mccormick
The Search For A Simple, Efficient, Less Intrusive Substitute For Our Current Income Tax System, Aaron Sauerbrei
The Search For A Simple, Efficient, Less Intrusive Substitute For Our Current Income Tax System, Aaron Sauerbrei
Major Themes in Economics
The subject of tax reform seems to emerge as a highly debated topic of discussion every few years because our current income tax system is too complex, inefficient, and intrusive. There are two unique proposals that would change the face of our tax system, the flat tax and the national sales tax. This paper examines these proposals on the grounds of complexity, efficiency, and intrusiveness to determine which plan would be the best substitute for our current income tax system.
Demand-Side Determinants Of Wage Inequality, Corey Lorenzen
Demand-Side Determinants Of Wage Inequality, Corey Lorenzen
Major Themes in Economics
Since 1979, there has been an increasing gap in earnings between skilled and unskilled workers. Supply-side factors were shown to offset the demand shifts in the 1970’s, but the supply of college graduates stabilized during the 1980’s. As the wage inequality began to grow, focus turned to demand-side factors that contributed to the wage inequality. Three main factors were highlighted: changes in the industrial structure, international trade, and increased investment in technology. These factors expanded the relative demand for skilled workers, increasing the wage gap between skilled and unskilled workers. Increased educational subsidies is recommended as the best policy response.
Trade Liberalization And Environmental Quality: Opposing Viewpoints, Additional Issues, And The Necessity Of Intervention, John R. Ubben
Trade Liberalization And Environmental Quality: Opposing Viewpoints, Additional Issues, And The Necessity Of Intervention, John R. Ubben
Major Themes in Economics
International trade, while promoting economic growth and development, is one of many suspects contributing to excessive rates of environmental degradation. Free trade compromises environmental quality in favor of welfare improvements and economic prosperity. The difficulty of measuring environmental amenities, trade theory’s inability to address externalities and decisions overtime, and numerous market failures regarding socially optimal prices, serve as red flags requiring intervention. The most successful form of intervention is domestic policies that internalize externalities. Intervention is also necessary to balance the interests of environmentalists and free traders and to ensure that the gains from trade are devoted to environmental protection.
Parade Of Protection: A Survey Of The European Reaction To The Passage Of The Smoot-Hawley Tariff Act Of 1930, Mark Milder
Parade Of Protection: A Survey Of The European Reaction To The Passage Of The Smoot-Hawley Tariff Act Of 1930, Mark Milder
Major Themes in Economics
One of the most egregious errors committed during the Great Depression was the Smoot-Hawley Tariff Act of 1930. It was the highest U.S. tariff of the century and sparked massive foreign protest. Immediate retaliation from Spain, Italy, Switzerland and Canada destabilized the Western market. It nearly collapsed when Great Britain, France and Germany reacted to the crisis. Smoot-Hawley did not cause the Great Depression, but it certainly worsened it by initiating a wave of trade barriers that severely reduced world trade. It should be a caveat for all international trade issues and persuasively shows why protectionism is a dubious policy.