Archive for July, 2008

The Gaffney Quantum Leap Effect

Wednesday, July 2nd, 2008

Fred E. Foldvary In economics, the waste of resources caused by a tax has two names. One is the “deadweight loss,” a loss to the economy with no offsetting gain. The other name is the “excess burden,” since the burden on the economy is in addition to or in excess of the tax payment. For [...]