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A progressive consumption tax would curb positional arms races and free up finances that could plug the deficit hole. By following Darwin’s theories, we could introduce a more effective economic system.

By Robert Frank

Abstract

Darwin’s theory of evolution helps explain the positive role of competition in the business world but also highlights the damaging effects of competitive ‘arms races’ in private consumption. Robert Frank argues that a progressive consumption task would correct market inefficiencies and channel resources towards more highly valued uses

Topics: HB Economic Theory
Publisher: Blog post from London School of Economics & Political Science
Year: 2011
OAI identifier: oai:eprints.lse.ac.uk:39371
Provided by: LSE Research Online

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