The current tax system is counterproductive and biased against saving and investment. The tax system imposes large losses on the economy that reduce the economic welfare of households and businesses. The current level of taxation imposes additional costs of about 40 cents at the margin for each dollar collected in revenue. A reduction in the burden imposed by the tax system would make a signifi...

Four stylized facts of economic growth in DCs are set up initially. Despite its obvious simplicity the linear growth model with subsistence consumption is able to reproduce two of them: a rise in the saving rate along with per capita income as well as b-divergence. The rate of convergence shows extraordinarily low values at early stages of economic development. Hence, the big diversity in growt...

according to the classical economists such as ricardo, labour was considered as the only factor of production; while capital, realized in machinery, tools and the like was identified as the accumulated labour and that inferior lands can be exploited due to the use of labour on them. but, in the long run development of capitalism in the western countries, this idea, i.e. labour as the base of pr...

There is an increasing need for the ship design process to take account of environmental issues such as the emission of greenhouse gases and the likely extension of a carbon dioxide charging mechanism to international shipping. These issues, together with the need for economic viability, provide further incentives to improve the efficiency of propulsion of ships. The main components of powering...

nfl S it, HERE HAS BEEN considerable concern about the size of the federal deficit and the rather modest success of the Gramm-RudmanHollings Act to reduce it. The traditional, that is, Keynesian, view of deficit spending in macroeconomics was that it could smooth out fluctuations in economic activity due to gaps between saving and investment that were primarily the result of exogenous shifts in...

The relationship between economic growth and energy consumption is one of the hot topics in economic research. There are many literatures concern about this topic from theoretical and empirical viewpoint. This paper applies panel unit root, heterogeneous panel cointegration and production function to investigate the relationship between energy consumption and economic growth within a multivaria...

Regionalism is an integral part of the broader economic policy reforms that have occurred in the Western Hemisphere over the last decade. This chapter examines the dynamic effects of regional integration arrangements in the Western Hemisphere on the U.S. economy, including U.S. agriculture and agricultural trade, by taking into account changes in saving-investment and capital accumulation. Thro...