A Dynamic Theory of Taxation: Integrating Kalecki Into Modern Public Finance
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 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 quality. 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.
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The rationale for Kaleckian tax analysis
Integrating Kaleckis theories of taxation and income determination
Taxation and Kaleckis theory of the business cycle
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aggregate demand aggregate income aggregate profits assuming assumptions average profits tax average wage tax balanced budget constraint budget stance business cycle capitalists cent chapter consider corporate profits tax degree of monopoly determined Edward Elgar effects of taxation equation Excess Tax Burden Federal fiscal policy fixed investment government budget government purchases growth rate impact of taxation income distribution income multiplier increase investment decisions jurisdiction Kalecki Kalecki's theory Laramie level of investment level of profits marginal propensity Materials Bill Materials Bill/Wage Bill national income National Wage Tax personal savings Post Keynesian Economics post-tax corporate profits post-tax profits pre-tax wage prime costs private sector profits tax rate propensity to consume propensity to save rate of growth rate of profits short-period spending Tax Burden Ratio tax incidence tax policy tax receipts tax shifting theory of income transfer payments value-added wage and profits wage bill wage share wage tax rate zero