Why the poor do not expropriate the rich: an old argument in new garb
Article Abstract:
Empirical evidence suggests that universal suffrage has not resulted in the expropriation of the rich by the poor through the tax system. Using a model featuring a political economy with two partisan political parties, it was found that the tax rate proposed by the pro-poor party in equilibrium will decline as the salience of the non-economic issue increases despite the majority's ideal tax rate of unity. This finding suggests a new approach to interpreting the history of the development of non-economic issues such as religion and nationalism in electoral politics.
Publication Name: The Journal of Public Economics
Subject: Government
ISSN: 0047-2727
Year: 1998
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A welfare comparison of private and public monopoly
Article Abstract:
The social welfare implications of the ownership composition of public and private monopolies wereexamined. Both forms of monopolies can be regulated, unregulated and subsidized. The social sectors and interest groups which will benefit from the ownership of monopolies should be taken into account by government planners. The expected welfare from public and private monopolies regarding fixed and marginal costs were analyzed. It was concluded that if fixed costs can be controlled and marginal costs are low, public monopolies are more beneficial tosociety.
Publication Name: The Journal of Public Economics
Subject: Government
ISSN: 0047-2727
Year: 1992
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Regulation, moral hazard and insurance of environmental risks
Article Abstract:
A large number of economic agents carrying major environmental risks create moral hazards to society. The problem of insurance has become complex due to emerging factors such as moral hazard, limited liability and risk aversion. Low-powered incentive schemes are needed and insurance of large environmental risks should not be handled by the market.
Publication Name: The Journal of Public Economics
Subject: Government
ISSN: 0047-2727
Year: 1995
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