Proprietary Policy and Production
CERGE-EI Working Paper No. 287
19 Pages Posted: 25 Jun 2008
Date Written: January 2006
Abstract
I present a model of a proprietary regime with opportunities for direct production (e.g., plantation cultivation, mining extraction). The premise is that direct production is a superior method of appropriation than taxation. The tax and spending policy of the regime distorts the resource allocation in favor of direct production and at a loss of private production; the welfare of the population suffers while the regime benefits. I examine the relevance of the model to the policies of actual proprietary regimes.
Suggested Citation: Suggested Citation
Jeong, Byeongju, Proprietary Policy and Production (January 2006). CERGE-EI Working Paper No. 287, Available at SSRN: https://ssrn.com/abstract=1148180 or http://dx.doi.org/10.2139/ssrn.1148180
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