
The Pure Theory of Capital
F. A. Hayek, Lawrence H. White
₹4,212

by Walter Hettich, Stanley L. Winer
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This work examines tax policies and tax systems as they arise from democratic choices, set against the background of a market economy. The authors argue that democratic institutions yield complex tax systems with features that follow a varied but predictable pattern. In developing their analysis, the authors use formal modelling of voting behaviour, emphasizing recent advances in the theory of probabilistic voting.
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