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Taxing losses: economic suicide or shrewd trade policy?

Butler, J. S. and Weinhold, Diana (2002) Taxing losses: economic suicide or shrewd trade policy? Journal of Interdisciplinary History, 33 (1). pp. 47-57. ISSN 0022-1953

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Abstract

The ancient Nabateans had an economic law that penalized those who diminished and rewarded those who increased the common property. Normally, such a law could reduce long-run growth, but the Nabateans flourished. In the context of their nearly pure trade economy, this law enhanced the city of Petra's ability to accumulate wealth by discouraging competitive price reductions (a strategic trade policy). Under general assumptions, the policy would also have penalized inefficient traders, reduced the number of traders, and increased aggregate saving.

Item Type: Article
Official URL: http://www.mitpressjournals.org/loi/jinh
Additional Information: © 2002 the Massachusetts Institute of Technology and the editors of The Journal of Interdisciplinary History
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
Sets: Departments > International Development
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 31 Oct 2008 10:28
URL: http://eprints.lse.ac.uk/18427/

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