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.
British Politics and Policy at LSE
(31 Oct 2011)
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 .
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