In his 1817 book, “On the Principles of Political Economy and Taxation“, David Ricardo explained the principle of economic comparative advantage.  He drew example from the production of wine and cloth in England and Portugal and explained, “In England it is very hard to produce wine, and only moderately difficult…

Thought Economics

There is little doubt that taxation is an economically necessary and ethically valid part of society’s structure.  “Taxes” stated Oliver Wendell Holmes Jr. “…are the price of civilisation.” Many cite taxation as having four ‘key’ roles in society, The generation of revenue for the state to provide infrastructure, education, defence,…

Thought Economics

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