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On The Demand Of Irrational Economics: Naomi Klein Vs. Milton Friedman, Valerio Filoso
On The Demand Of Irrational Economics: Naomi Klein Vs. Milton Friedman, Valerio Filoso
Valerio Filoso
The persistence of demand for economic irrationality, as expressed by the big success gained by the literature on no-globalism, is an empirical puzzle and the recent book by Naomi Klein "The Shock Doctrine" (2007) is a rampant example. An explanation for this anomaly is provided by the theory of rational irrationality advanced by Bryan Caplan (Caplan, 2007). While in the field of natural sciences confutation of wrong theories sets them apart forever, in the field of economics rebutted theories can still have an appeal on nonprofessional readers, even though the underlying theory has already been proved wrong. This is due …
The Corporate Income Tax: An Entrepreneurial Perspective, Valerio Filoso
The Corporate Income Tax: An Entrepreneurial Perspective, Valerio Filoso
Valerio Filoso
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. Secondly, the imperfect observ- ability of the use of internal resources makes pure economic profits very difficult to detect. Thirdly, when the pervasive role of entrepreneurship is fully taken into …