Quotation of the Day…
Posted By Don Boudreaux On April 15, 2012 @ 8:32 am In Competition,Complexity & Emergence,Inequality,Seen and Unseen | Comments Disabled
… is from page 135 of Richard Posner’s article in the Jan. 1979 issue of the Journal of Legal Studies, “Utilitarianism, Economics, and Legal Theory [1]“:
Because people do not receive their full social product, in effect some (often much) of the wealth they produce is “taxed away” by consumers. In general, the more wealth a person produces, the higher the “tax” he pays….
Comments
Article printed from Cafe Hayek: http://cafehayek.com
URL to article: http://cafehayek.com/2012/04/quotation-of-the-day-263.html
URLs in this post:
[1] Utilitarianism, Economics, and Legal Theory: http://www.jstor.org.mutex.gmu.edu/stable/724048
[2]
[3]
[4]
[5]
[6] Image: http://www.blinklist.com/index.php?Action=Blink/addblink.php&Url=http%3A%2F%2Fcafehayek.com%2F2012%2F04%2Fquotation-of-the-day-263.html&Title=Quotation%20of%20the%20Day...
[7]
[8]
[9]
[10]
[11] Tweet: https://twitter.com/share
Click here to print.