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- Title
THE TAXATION OF LUXURIES AND THE RATE OF INTEREST.
- Authors
McGoun, A.F.
- Abstract
The article deals with the taxation of luxuries and the rate of interest. The author states that as the consumption of luxuries is supposed to be discouraged, the quantity of capital needed for their production as well as the demand for capital in general would be so far diminished. The author added that by far the greater part of the new capital would inevitably be adapted to the production of necessaries. However, it is mentioned that such capital were multiplied in this way, the return to the marginal installment and the rate of interest would eventually be reduced.
- Subjects
TAXATION; LUXURIES; INTEREST rates; CONSUMPTION (Economics); CAPITAL; ECONOMICS
- Publication
Quarterly Journal of Economics, 1919, Vol 33, Issue 2, p298
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1884736