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Article
Publication date: 1 May 1988

Ernest Raiklin

Studies concerning Soviet taxation demonstrate a diversity of opinions on the nature of turnover taxes. Four major views on the subject have emerged: (1) turnover taxes…

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Abstract

Studies concerning Soviet taxation demonstrate a diversity of opinions on the nature of turnover taxes. Four major views on the subject have emerged: (1) turnover taxes are simply a sales (excise) tax on articles' of consumption sold to the Soviet consumer; (2) not all turnover taxes are a sales tax, some of them are a substitute for rent on production of certain industrial materials; (3) in addition to being a sales (excise) tax on consumer goods and rent on some industrial materials, there exists a third type of turnover tax which is levied on agricultural production of the peasantry; (4) turnover taxes are a portion of the surplus product produced in industry and agriculture.

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International Journal of Social Economics, vol. 15 no. 5/6
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 15 August 2016

Stephan F. Gohmann, Bradley K. Hobbs and Myra J. McCrickard

The purpose of this paper is to examine the correlation between the degree of economic freedom in state institutions and industry employment and then determine how these…

Abstract

Purpose

The purpose of this paper is to examine the correlation between the degree of economic freedom in state institutions and industry employment and then determine how these correlations relate to economic growth.

Design/methodology/approach

The authors find the correlation between employment and economic freedom for each NAICS industry code and then calculate total employment in industries with positive correlation and negative correlations. The authors use these values in a GDP equation.

Findings

The authors find that employment growth in industries characterized by a negative correlation is associated with a decline in state per capita GDP. When the correlations between employment and economic freedom are positive, state per capita GDP tends to grow, even after accounting for overall economic freedom in the state.

Research limitations/implications

Eliminating or reducing opportunities for firms to use government institutions to gain special treatment will lead to greater economic growth.

Originality/value

This paper allows the data to determine which industries potentially engage in productive and unproductive entrepreneurship.

Details

Journal of Entrepreneurship and Public Policy, vol. 5 no. 2
Type: Research Article
ISSN: 2045-2101

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Article
Publication date: 10 April 2017

Magnus Henrekson and Mikael Stenkula

The purpose of this paper is to show that entrepreneurship can be fruitfully analyzed by positing that entrepreneurs are searching for rates of return exceeding the…

Abstract

Purpose

The purpose of this paper is to show that entrepreneurship can be fruitfully analyzed by positing that entrepreneurs are searching for rates of return exceeding the risk-adjusted market rate of return, i.e., they try to create or discover economic rents.

Design/methodology/approach

A conceptual paper trying to bridge the gap between neoclassical economics and the entrepreneurship field by seeing entrepreneurship as the search for and creation of (entrepreneurial) rents.

Findings

In the short to medium term the search for and creation of entrepreneurial rents give rise to supernormal profits if successful. In the longer term these rents are dissipated and accrue to society at large as cheaper and better products. Entrepreneurial rents are crucial for bringing about the innovation and continuous structural change required to generate economic growth.

Practical implications

The search for entrepreneurial rents is crucial for economic development. Without the possibility to earn entrepreneurial rents, no entrepreneur would be willing to exercise entrepreneurship and exploit entrepreneurial opportunities. Successful entrepreneurship attracts imitating firms that push back profits to normal levels and the benefits of the innovation will be diffused to consumers.

Social implications

Understanding the role of entrepreneurship and its compensation is crucial for analyses of potential policy measures. High ex post compensation for successful entrepreneurship cannot be taxed harshly without affecting entrepreneurs’ willingness to supply effort.

Originality/value

The entrepreneurial function and its compensation are often neglected in neoclassical economics. This is a major shortcoming, as the presence of and search for entrepreneurial rents are necessary for bringing about the innovation and structural change that result in economic growth.

Details

Journal of Entrepreneurship and Public Policy, vol. 6 no. 1
Type: Research Article
ISSN: 2045-2101

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Book part
Publication date: 15 June 2012

Fred E. Foldvary

Classical economics recognizes three categories of inputs into production: land, labor, and capital goods. The three factors are also germane to Austrian economics.

Abstract

Classical economics recognizes three categories of inputs into production: land, labor, and capital goods. The three factors are also germane to Austrian economics.

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The Spatial Market Process
Type: Book
ISBN: 978-1-78190-006-2

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Article
Publication date: 22 January 2018

Feiming Huang

The purpose of this paper is to test whether the policies of China’s financial restraint have an inhibitory effect on the consumption of residents.

Abstract

Purpose

The purpose of this paper is to test whether the policies of China’s financial restraint have an inhibitory effect on the consumption of residents.

Design/methodology/approach

This study used the principal component analysis for constructing a financial restraint index and also used empirical methodology.

Findings

The authors found that financial restraint policies create rent opportunities for banking sector and production sector, which further creates the rent opportunities for the household sector. Such transfer of rent and redistribution will have an inhibitory effect on residents’ consumption. The financial restraint policies directly and indirectly inhibit the growth of residents’ income; and in theory, the purpose of financial restraint policy is to promote economic growth, thus promoting residents’ consumption. Thus, the financial restraint policies impacting the residents’ consumption are non-linear and test the threshold effect of financial restraints on the residents’ consumption of China.

Research limitations/implications

This paper’s theoretical contribution includes: increasing the connotation of financial restraint in the policies of stock market and foreign exchange controls, and further developing the financial restraint theory; and exploring the inhibitory effect on the consumption of residents from the perspective of financial restraints to enrich the connotation of the consumption theory.

Originality/value

The findings in this study can help the financial authorities to gradually relax the financial restraint policies to encourage residents’ consumption.

Details

China Finance Review International, vol. 9 no. 2
Type: Research Article
ISSN: 2044-1398

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Article
Publication date: 2 September 2014

Dirk Loehr

The purpose of this paper is to develop the hypothesis that corporations are a particularly suitable instrument for rent seeking. Benefits are reaped by powerful…

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1308

Abstract

Purpose

The purpose of this paper is to develop the hypothesis that corporations are a particularly suitable instrument for rent seeking. Benefits are reaped by powerful companies, whereas a great deal of the costs is passed on to weakly organized groups.

Design/methodology/approach

The paper develops and substantiates the hypothesis theoretically and gives some indications. Moreover, a case study is added which refers to the German electricity market.

Findings

Equity seems to be indispensable to get access to land and other assets with similar characteristics as land. At the same time, profits appear to reflect the rent-earning capacity of the company's assets. High land rents stimulate investment intensity, and corporations can collect the necessary funds. The flip-side of rents is often the externalization of costs. Also, due to their limited liability, corporations externalize risks.

Originality/value

The paper provides a rationale for the common criticism of corporations, which is based on the reflection of equity as the key to land (in a broad sense) and (land) rents as the core of profits. If the findings hold true, corporations should be subject to particular regulatory observation. In particular, the corporate constitution of corporations and the taxation framework should try to get a better coupling of benefits and costs.

Details

International Journal of Social Economics, vol. 41 no. 9
Type: Research Article
ISSN: 0306-8293

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Book part
Publication date: 8 December 2006

Peter Johnson

Abstract

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Astute Competition
Type: Book
ISBN: 978-0-08045-321-7

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Article
Publication date: 13 March 2009

Mason Gaffney

A tax based on land value is in many ways ideal, but many economists dismiss it by assuming it could not raise enough revenue. Standard sources of data omit much of the…

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3910

Abstract

Purpose

A tax based on land value is in many ways ideal, but many economists dismiss it by assuming it could not raise enough revenue. Standard sources of data omit much of the potential tax base, and undervalue what they do measure. The purpose of this paper is to present more comprehensive and accurate measures of land rents and values, and several modes of raising revenues from them besides the conventional property tax.

Design/methodology/approach

The paper identifies 16 elements of land's taxable capacity that received authorities either trivialize or omit. These 16 elements come in four groups.

Findings

In Group A, Elements 1‐4 correct for the downward bias in standard sources. In Group B, Elements 5‐10 broaden the concepts of land and rent beyond the conventional narrow perception, while Elements 11‐12 estimate rents to be gained by abating other kinds of taxes. In Group C, Elements 13‐14 explain how using the land tax, since it has no excess burden, uncaps feasible tax rates. In Group D, Elements 15‐16 define some moot possibilities that may warrant further exploration.

Originality/value

This paper shows how previous estimates of rent and land values have been narrowly limited to a fraction of the whole, thus giving a false impression that the tax capacity is low. The paper adds 14 elements to the traditional narrow “single tax” base, plus two moot elements advanced for future consideration. Any one of these 16 elements indicates a much higher land tax base than economists commonly recognize today. Taken together they are overwhelming, and cast an entirely new light on this subject.

Details

International Journal of Social Economics, vol. 36 no. 4
Type: Research Article
ISSN: 0306-8293

Keywords

Content available
Article
Publication date: 3 April 2019

Mohammad Omar Farooq

The purpose of this paper is to explore the concept of rent-seeking behaviour and rentier state in the context of ẓulm (injustice and exploitation), which is one of the…

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1659

Abstract

Purpose

The purpose of this paper is to explore the concept of rent-seeking behaviour and rentier state in the context of ẓulm (injustice and exploitation), which is one of the key concerns in Islam in general and Islamic economics and finance in particular.

Design/methodology/approach

As a conceptual paper, it draws on the literature of rent-seeking as part of public choice theory and examines the potential vulnerabilities as well as existence of rent-seeking in Muslim-majority countries, where Islamic finance industry primarily operates.

Findings

The paper identifies several areas where both actual and potential rent-seeking exists.

Research limitations/implications

The paper is conceptual. Based on the analysis presented here further studies can be undertaken to determine the scope of rent-seeking and their impact in Muslim-majority societies.

Practical implications

Incorporating rent-seeking in the theoretical and conceptual framework of Islamic economics and finance can enhance understanding about ẓulm and its ubiquitous presence, as Islam has a firm stance to aspire to have a ẓulm-free society.

Social implications

Understanding rent-seeking behaviour can help appreciate why corruption, inequality and poverty are so entrenched, and why limiting the discourse to ribā (interest) ignores the broader scope of injustice and exploitation.

Originality/value

This might be the first focused paper that conceptually deals with rent-seeking behaviour, connecting the discourse about ribā-interest equation.

Details

ISRA International Journal of Islamic Finance, vol. 11 no. 1
Type: Research Article
ISSN: 0128-1976

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Article
Publication date: 1 November 1998

Ernest Raiklin

This paper attempts to analyze the mechanism of land rent distribution under the Soviet and post‐Soviet conditions. The subject is examined from a purely theoretical point…

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270

Abstract

This paper attempts to analyze the mechanism of land rent distribution under the Soviet and post‐Soviet conditions. The subject is examined from a purely theoretical point of view. The procedure is as follows: first, the socioeconomic meaning of the word “Soviet” is defined. Second, the difference between land rent production and land rent distribution is examined. Finally, Soviet land rent distribution is investigated. Also, changes which the collapse of the Soviet system brought to the process of land rent distribution during the post‐Soviet period are examined. Within this framework, the role of Soviet turnover taxes versus post‐Soviet value‐added taxes is discussed.

Details

International Journal of Social Economics, vol. 25 no. 10
Type: Research Article
ISSN: 0306-8293

Keywords

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