In a capitalist economy, taxes are the most important instrument by which the political system puts into practice a conception of economic or distributive justice. This book unites philosophical discussion of justice with debates on tax policy.
The book discusses prominent issues like the estate tax, redistribution, progressive versus "flat" taxes, and whether the tax base should be consumption or income. It explains the most important theories of justice and their implications for tax policy.
The Myth of Property is the first book-length study to focus directly on the variable and complex structure of ownership. It critically analyzes what it means to own something, and it takes familiar debates about distributive justice and recasts them into discussions of the structure of ownership. The traditional notion of private property assumed by both defenders and opponents of that system is criticized and exposed as a "myth." The book then puts forward a new theory of what it means to own something, one that will be important for any theory of distributive justice. This new approach more adequately reveals the disparate social and individual values that property ownership serves to promote. The study has importance for understanding the reform of capitalist and welfare state systems, as well as the institution of market economies in former socialist states, for the view developed here makes the traditional dichotomy between private ownership capitalism and public ownership socialism obsolete. This new approach to ownership also places egalitarian principles of distributive justice in a new light and challenges critics to clarify aspects of property ownership worth protecting against calls for greater equality. The book closes by showing how defenders of egalitarianism can make use of some of the ideas and values that traditionally made private property appear to be such a pervasive human institution.
Class, Geopolitics, and the Making of Modern International Relations
Author: Benno Teschke
The Treaty of Westphalia in 1648 is widely interpreted as the foundation of modern international relations. Benno Teschke exposes this as a myth. In the process he provides a fresh re-interpretation of the making of modern international relations from the eighth to the eighteenth century. Inspired by the groundbreaking historical work of Robert Brenner, Teschke argues that social property relations provide the key to unlocking the changing meaning of 'international' across the medieval, early modern, and modern periods. He traces how the long-term interaction of class conflict, economic development, and international rivalry effected the formation of the modern system of states. Yet instead of identifying a breakthrough to interstate modernity in the so-called 'long sixteenth century' or in the period of intensified geopolitical competition during the seventeenth century, Teschke shows that geopolitics remained governed by dynastic and absolutist political communities, rooted in feudal property regimes. The Myth of 1648 argues that the onset of specifically modern international relations only began with the conjunction of the rise of capitalism and modern state-formation in England. Thereafter, the English model caused the restructuring of the old regimes of the Continent. This was a long-term process of socially uneven development, not completed until World War I.
This paper uses Engel curves to estimate real income growth in Brazil. The estimated per capita household real income growth in metropolitan areas during 1987-2002 is about 4½ percent per year, well above the "headline" growth of 1½ percent obtained by deflating nominal incomes by the CPI. This suggests a substantial CPI bias during that period, likely owing to one-off effects of trade liberalization and inflation stabilization. The estimated unmeasured gains are higher for poorer households, implying a marked reduction in "real" inequality. This finding challenges the conventional wisdom that post-reform real income growth in Brazil was low.
Top Ten Myths Concerning Your Rights and Liberties
Author: Kirby Goidel
Category: Political Science
The Bill of Rights—the first 10 amendments to the U.S. Constitution—are widely misunderstood by many Americans. This book explores the widely held myths about the Bill of Rights, how these myths originated, why they have persisted, and the implications for contemporary politics and policy. • Carefully separates out widely held contemporary beliefs about the Bill of Rights and connects them to debates over meaning, enabling readers to see how the meaning of rights is historically and contextually determined • Explores the Bill of Rights in the context of myths that define the American political culture • Provides an even-handed but incisive analysis of individual myths, pointing out where both the left and the right often misinterpret the true meaning of the Bill of Rights • Places the debates regarding rights in contemporary politics and modern society by considering the complex challenge of protecting individual freedoms in the context of a digital age, international terrorism, and ongoing threats to national security
This history of Britain since 1945 confronts two themes that have dominated British consciousness during the post-war era: the myth of decline and the pervasiveness of American influence. The political narrative is about the struggle to maintain a power that was illusory and, from 1960 on, to reverse an economic decline that was nearly as illusory. The British economy had its problems, which are fully analyzed; however, they were counterbalanced by an unparalleled prosperity. At the same time, there was a social and cultural revolution which resulted in a more exciting, dynamic society. While there was much American influence, there was no Americanization. American influences were incorporated with many others into a new and less stodgy British culture. Contrary to conventional wisdom, this groundbreaking book finds that the story of Britain since the war is marked not by decline but by progress on almost all fronts.
This book studies takeovers from the acquirer's perspective. More precisely the book focuses on the legal and regulatory treatment of the risks faced by the acquiring company shareholders in takeovers. The identified risks are categorised into two main groups: first, risks generated by managerial choices and second, regulatory or external risks. The analysis considers the legal context but also draws on the economic literature, seeking to map the area under consideration and to suggest measures to improve the present position from both a law and economics perspective. More specifically, the book examines various methods of protecting the acquiring shareholders against value-decreasing or self-interested acquisitions, such as the class transaction rules, fiduciary duties, the acquiring directors' responsibilities under the Takeover Code, the court scheme procedure, the role of institutional shareholders and reward strategies, and methods of making the acquiring directors more exposed to the discipline of the market. The effects of the choice of the medium of payment are also covered. In addition, it covers the Code's position with regard to auction situations and seeks to identify ways of addressing the acquiring shareholders' interests in auctions, including auctions where buyout teams or white Knights are involved. Moreover it identifies situations where deviations from horizontal equality rules, which increase takeover premia, are or should be recognised. To that effect the Code's rules on mandatory bids, the determination of the price and the form of payment offered, partial offers and squeeze outs are considered. In addition, it covers the Code's position with regards to auction situations and seeks to identify ways of addressing the acquiring shareholders' interests in auctions, including auctions where buyout teams or White Knights are involved. Moreover it identifies situations where deviations from horizontal equality rules, which increase takeover premia, are or should be recognised. To that effect the Code's rules on mandatory bids, the determination of the price and the form of payment offered, partial offers and squeeze outs are considered. The analysis covers both hostile and friendly situations. In relation to hostile takeovers, the legal and regulatory framework of toehold strategies is analysed (Code's requirements, Disclosure Rules and Companies Act disclosure requirements etc). Market Abuse issues in relation to stake building are also highlighted. In relation to friendly takeovers the operation of lock-up agreements and break fees (Code's requirements, fiduciary law, financial assistance and other contract law concerns), is also explored. Finally, the Panel's position on adverse changes, pre-conditions and conditions which the offer can be subject to and the bidder's exposure to Material Adverse Change risk are assessed. The book discusses developments in the area under consideration including the Takeover Code regime after the implementation of the Takeover Directive and the Companies Act 2006.