The social cost of the tax that pays for the subsidy is greater than the gain to the buyers, because the extra buyers are able to to buy it at less than the market price. A subsidy lets people buy stuff below the price that would be set in a market. In a free market, […]
[ Fred E. Foldvary, Dept. of Economics, Santa Clara University, and School of Management John F. Kennedy University, California. Bradley Fellow, Center for Study of Public Choice, 1989-91. ] In the Calculus of Consent: Logical Foundations of Constitutional Democracy, James Buchanan and Gordon Tullock analyzed “the calculus of the rational individual when he is faced with questions […]
Libertarianism is the ethical proposition that all and only coercive harm is evil. Geoism (also called “Georgism” after Henry George) is the proposition that the rent of land should be either shared equally or used for public revenue. Geo-libertarianism combines these two philosophies into equal self-ownership and equal rights to the rent of natural resources. […]
Social Liberty