True & False Economics

13.50 Taxation, on the other hand, is no part of economics, Despite what many orthodox economists mistrakenly teach. It is not part of production, exchange or distribution. It is a levy by governments on the products of labour after both production and economic distribution are finished. 189.96 As there must be a Treasury for the collection of the rent, the Treasury will replace the taxation departments. Most likely the munciipal councils will collect the whole rent and pay it over to the national treasury, 5.33 This does not mean that harmful products, such as drugs or armaments or pornography should not be discouraged. That is a matter for moral action or social philosphy, But not for economics.. When a proposed action involves a choice between ethics and economy ethics must prevail. "Life is more than meat". But the economy principle is never in conflict with ethics. 63.148 (a) Production and trade are matters of associated individual economic effort and enterprise, and governments act uneconomically when they interfere with and try to regulate trade, or even become concerned with economic matters. This means that one plain implication of economics is to encourage trade but even more to establish free trade. (b)Economic rent is produced by the whole economic community, and not by any land-holder or individual producer. The ethical and political implication of this is that governments are ethically obligated to see that the rent is collected by the community and used for the community. 63.149. The chief link between economics and ethics is therefore rent, the most obvious and striking of economic phenomena and the greatest source of good to the community (if rightly handled) and of evil (if wrongly handled). It is said that the road to hell is paved with good intentions well we know that the bridge to prosperity is the appreciation of rent for pubic revenue and not for private enrichment. W Arthur. Dowe