"Laffer professes no recollection of this napkin"
Keynes wrote a book called A Treatise on Money. I wanted to look up something in it. I searched Google Books, found a book by that title, and started reading.
I know: I depend heavily on Google. But anyway...
The book struck me a little odd. Unexpected. I couldn't find what I was looking for. And I found something I was not looking for:
Impose a tax of a very onerous amount, and instead of increasing the revenue you may kill the revenue altogether; whilst, on the other hand, the progressive diminution of a tax, by increasing the demand, may also increase the revenue obtainable.
First of all, that's not Keynes. There are some writers -- Keynes, Tocqueville, Adam Smith -- whose work is so beautiful as to be almost immediately recognizable. And then there are the rest of us.
Second: Wow, this is Laffer-Curve stuff. Who did write it?
The book is "A Treatise on Money and essays on monetary problems," by J. Shield Nicholson, from 1901.
1901.
2 comments:
New Arthur,
I like the way you think.
Arctic Tundra
Thanks, Kat.
For clarity I am changing the word Blog in my blog-title to Economics. It's the economic analysis that's new.
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