Current macroeconomic policy promotes continuous economic growth. Unemployment, poverty and debt are associated with insufficient growth. Economic activity depends upon the transformation of natural materials, ultimately returning to the environment as waste. Current levels of economic throughput exceed the planet‘s carrying capacity. As a result of poorly constructed economic institutions, soc...

Fixed cost: Includes all costs that do not vary with activity for an accounting period. Fixed costs are, at any time, the inevitable costs that must be paid regardless of the level of output and of the resources used. A Fixed Cost is therefore not an Opportunity Cost. Overhead is considered a fixed cost, even though it may vary somewhat according to the amount of activity. Any cost that does no...

Optimal climate policy is studied in a Ramsey growth model with exhaustible oil reserves, an infinitely elastic supply of renewables, stock-dependent oil extraction costs and convex climate damages. We concentrate on economies with an initial capital stock below that of the steady state of the carbon-free economy and the initial cost of oil (extraction cost plus scarcity rent and social cost of...

A central result in the theoretical literature on strategic trade is the ‘rent-shifting hypothesis’, the idea that government’s can employ trade policy as a precommitment device to transfer profit from foreign to domestic firms. To our knowledge, however, the rent-shifting hypothesis remains untested empirically. This paper constructs a theory-based empirical test of rent-shifting behavior that...

Nationally, there has been increased attention at the state level in a gross receipts tax as a replacement for the standard state corporate income tax. Washington State has imposed a gross receipts tax since 1935. In 2005, this tax structure was also adopted in Ohio. And in May 2006, Texas lawmakers voted to replace their franchise tax with a gross receipts tax. The reasons given for such a mov...

Historically, the Islamic state collected zakat (similar to the tithe of other regions) as national income. In Indonesia, the private sector can raise zakat funds more effectively than the government. In 2010, zakat became tax-deductible income. This paper tries to analyze some factors that affect preference for zakat as a tax deduction in Indonesia. The effectiveness of the regulation is also ...

The article follows up on the series of general theoretical works by Oleg E. Nepomnin (1935-2020) published in previous issues Oriental Courier. [Непомнин, 2019, 2020, 2021a, 2021b]. Nepomnin, a specialist Chinese studies and Orientalism, was one most prominent theorists societies. author adheres to concept “class-state” which formed traditional China determined all spheres society, Qing era. S...