Ricardo on Taxation
Author: Carl S. Shoup
Abstract
The book deals with different aspects of taxation, i.e., Ricardo and taxation; Ricardo’s macro-
economic system; taxes paid out of capital; taxes paid out of income; specific tax per unit of
agricultural produce; tax on agricultural land rent; proportional tax on agricultural output; agricultural tax of a fixed output; taxes on gold and on houses; taxes on profits; taxes on wages; war finance; taxes and bounties on foreign trade; taxable capacity of a nation; Ricardo and British tax system in the day of Ricardo; and lastly the author describe the issue of appraisal of Ricardian tax analysis. He describes the issue that was already done Ricardo’s share, and more in supplying guideposts to right measures in taxation. By his principles, the author enunciates the first seven chapters in the law of distribution in a tax-less state. The treatise on taxation is also enumerated briefly in his book. Hence, Ricardo, Smith, and J. S. Mill’s traditional systems of taxation were broke down by the Marshall’s principles that were elaborately described in the book. Ricardo’s macro-economic system is the main core discussion of the book. Sometimes, the author analyzed the macro-economic system of Ricardo. In this discussion, restrictions on corn imports and the threat of the stationary state is also idealized in the chapter. One example gave as such ‘At the end of war with France, England had to decide whether to maintain wheat production at something like the wartime level, or to relay largely on imports of the grain, purchased by export of manufactured goods. A severe fall in the price of wheat had stirred sentiment for ever greater protection; but on the other side were those to whom maintenance of the war-extended agriculture was a misuse of national resources and a threat to the country’ growth. Author has concentrated particular interest on the categorical explanation of taxation of Ricardo.