The paper focuses on the development of taxation based on contributions of Ricardo, Smith and Petty. They both developed the taxation idea from Locke’s theory of a single tax on rent. Their major contribution was on the incident tax, which demonstrates value system, power relations and group interests on taxation. Finally, the paper analyzes how taxation influences economic decision in the 21st century.
The development of political economy in the 17th century was characterized by an effort to flee from Locke’s theorem that all taxes would eventually fall on the rent of land as well as his Continue reading...