A Dynamic Theory of Taxation

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A Dynamic Theory of Taxation

Integrating Kalecki into Modern Public Finance

9781858986685 Edward Elgar Publishing
Anthony J. Laramie, Professor of Economics, Merrimack College, US and Douglas Mair, former Professor of Economics, Heriot-Watt University, UK
Publication Date: 2000 ISBN: 978 1 85898 668 5 Extent: 208 pp
A Dynamic Theory of Taxation will be a welcome addition to the literature and will be of interest to tax policy analysts and government policy advisors, as well as scholars working in the fields of public finance, post Keynesian and Kaleckian economics.

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Contents
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This innovative book offers an original and radical tax policy proposal which can be used to promote growth and stability without affecting income equality.

Immediately following the publication of Keynes’s General Theory, Kalecki recognized that the theory of tax had to be re-thought, as aggregate income could no longer be thought of as fixed with respect to tax-induced changes in aggregate demand. To this day, orthodox tax policy analysis continues to ignore aggregate demand effects. The authors consider this orthodox approach to be deficient, and show how tax policies can promote growth without having a negative impact on equity. They incorporate Kalecki’s theory of tax incidence into an analysis of income determination, income distribution, investment, business cycles, and growth. In addition, they examine the incidence of the corporate profits tax and the macroeconomic and regional incidence, and effects of local taxation.

A Dynamic Theory of Taxation will be a welcome addition to the literature and will be of interest to tax policy analysts and government policy advisors, as well as scholars working in the fields of public finance, post Keynesian and Kaleckian economics.
Critical Acclaim
‘This academic book provides a new perspective on public finance. . . . This text should be of interest to public economists, policy analysts and government.’
– Glenn Feltham, Canadian Tax Journal

‘Laramie and Mair break new ground in extending Kalecki’s analysis of taxation to the case of an open economy, and they put forward intriguing new models showing in detail how taxation affects distribution and economic growth. This book should be read by all economists and policymakers interested in the economic consequences of taxation and government expenditure.’
– Jan Toporowski, South Bank University, UK

‘This book provides a breakthrough in the analysis of taxation, its incidence and effects on the economy. It provides a coherent framework for the analysis of the effects of different forms of taxation on effective demand, employment, distribution of income and investment. The authors have also enriched Kalecki’s analyses of distribution, investment and the business cycle through incorporating the effects of taxation.’
– Malcolm Sawyer, University of Leeds, UK
Contents
Contents: 1. The Rationale for Kaleckian Tax Analysis 2. Integrating Kalecki’s Theories of Taxation and Income Determination 3. Taxation and Kalecki’s Theory of the Business Cycle 4. The Long-Run Effects of Taxation in a Kaleckian Model 5. The Incidence of the Corporate Profits Tax 6. The Impact of Taxation on Gross Private Non-Residential Fixed Investment 7. The Short-Period Macroeconomic Incidence and Effects of State and Local Taxes 8. The Macroeconomic and Regional Effects of National and Local Taxation: A Kaleckian Approach 9. Conclusion: Policy Implications Index
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