"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.
New Arthur,
ReplyDeleteI like the way you think.
Arctic Tundra
Thanks, Kat.
ReplyDeleteFor clarity I am changing the word Blog in my blog-title to Economics. It's the economic analysis that's new.