Towards a tax constitution for Leviathan

This paper attempts to derive normative tax rules based on the constitutional calculus of the typical voter–taxpayer when he predicts that post-constitutional political processes will be dominated by a budget-maximizing Leviathan-like bureaucracy. In this setting, selection of tax institutions becomes part of the apparatus by which Leviathan is constrained. Such an approach generates tax rules strikingly at variance with more conventional norms. In particular, the goal of a ‘comprehensive’ tax base, which informs standard analysis, gives way to a preference for specific limitations on the width of the tax base: moves towards a greater comprehensiveness will lead inexorably to larger public spending, and beyond some point are clearly undesirable. The analysis also implies a rather unconventional defense of progression in the tax structure. An attempt is made to relate the discussion to contemporary tax reform issues.     

Ethical Transparency and Economic Medicalization

This article introduces the concept of economic medicalization where non-medical problems are transformed into medical problems in order to achieve the objective of corporate shareholder wealth maximization. Following an overview of the differences in ethical norms applicable to medical ethics and business ethics, the economic medicalization of medical research practice and publication is examined in some detail. This motivates a general discussion of the problems involved in the ethical approval process for medical research that balances the interests of both business and government in the market for medical products and services.     

THERE'S MANY A SLIP…

There has to be a General Election at some time in the next eighteen months. It has long been clear that the economy will not be in the best of shape in time for the election and that the best the Conservatives can hope for is a significant reduction in inflation and interest rates together with modest output growth. Our October forecast suggested that this combination was feasible and that the government would be able to go to the country with base rates of 12 per cent, retail price inflation at half its present level and output growing at a rate of 2per cent after a relatively short and shallow recession. It may turn out that this is an overly optimistic central forecast and in this Forecast Release we examine some of the ways in which it could go wrong. In a worst possible scenario the government may have to face the electorate with the economy in recession, inflation high and interest rates still at or close to their present levels.     

The opportunity not taken: The occupational identity of entrepreneurs in contexts of poverty

Innovative entrepreneurship is an essential but often missing outcome of poverty alleviation efforts. This qualitative study set in rural Ghana explores the occupational identity of entrepreneurs, the institutions that shape it in isolated “island networks”, and how it influences entrepreneurs' practices and decisions. We find that the institutional forces of “collectivism” and “fatalism” feature prominently. Being an entrepreneur in such settings means being a mentor, market link, and community safety net, and the types of opportunities entrepreneurs pursue are largely seen as pre-destined and inherited rather than individually chosen. As a result, the pursuit of innovative opportunities may be significantly limited.