An Open Letter to those who believe that the theory of Diminishing Marginal Utility is valid justification for an increasing marginal tax rate. The antagonist had cited DMU as “fundamental principle of Economics,” and had posited that this theory is valid justification for our current system of elevating marginal tax brackets. I offer you this piece as a retort: I do not profess to deny the principle of Diminshing Marginal Utility– certainly the first...
Wal-Mart is a favorite topic of debate for me, so I was happy to find that the last issue of The Economist had an interesting sidebar re: Wal-Mart. You can check it out online, here. A subscription may be required. Anyways, it’s a pretty nice summation of the situation facing big-box stores in inner cities– they face some hefty opposition, that seems empirically unwarranted. Considering the expenses faced by inner city inhabitants, allowing discounters...
Income Disparity and the Welfare state Just a thought, but I would assume that given the presence of the current welfare state, those who benefit from it are the same who would live in (near) abject poverty without the welfare state. Clearly, the motivation to be sucessful and able to provide for oneself (and one’s family) is not high on the list of things to do for these people. Many of the beneficiaries of...
