Labour Market Arbitrage in China

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 to produce cloth. In Portugal both are easy to produce. Therefore while it is cheaper to produce cloth in Portugal than England, it is cheaper…

Continue Reading...

Taxation and Economic Self-Harm

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, welfare, public services and so forth The re-distribution of wealth from the richer to the poorer parts of society to aid social development and reduce…

Continue Reading...

Speaker