Ok, one last question, but can you expand on why you think taxation makes markets less effective? I’m not sure I understand why this should be a given?
I live in the UK, and VAT is applied to some but not all goods. It doesn’t seem to me clear at all that, say, cakes (not taxed) exist in a more competitive environment than say, biscuits (taxed)?
They reduce profit, by extension, investment, make domestic firms less competitive to financial institutions, making the economy less productive.
you talk like an economist. economists don’t care about the individual. they look at economic benefits on a large scale, where most of the measurements are in relation to financial institutions. i’ve met many people who benefited from recession. large firms and wealthy shareholders often liquidate things during recessions at reduced prices, which allow poor people to finally afford something.
economists also go great with garlic, so watch yourself.
Well macroeconomics looks at the entire economy. Microeconomics focuses on individual agents.
A recession can cause inflation and unemployment in the long run.
I am not an economist, but a philosopher by education. Anti-intellectualism bugs me all the same.
