“The price-tax conditions necessary to sustain the Pareto optimality of a competitive market solution under the assumed convexity conditions are tantamount to standard Pigovian rules, with neither taxes imposed upon, nor compensation paid to, the victims of externalities.”

— William J. Baumol

Source: The theory of environmental policy, 1988, p. 45; Cited in: Vatn, Arild, and Daniel W. Bromley. "Externalities-a market model failure." Environmental and resource economics 9.2 (1997): 135-151.

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William J. Baumol9

American economist 1922–2017

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“One can in particular interpret the proposition as a statement conditions under which the simplicity of incentive structure and the economies of information handling characteristic of a competitive market organization can be secured without loss of efficiency of allocation… The price system carries to each producer, resource holder, or consumer a summary of information about the production possibilities, resource availabilities and preferences of all other decision makers. Under the conditions postulated, this summary is all that is needed to keep all decision makers reconciled with a Pareto optimal state once it has been established.”

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“You can be assured of this. There will be no increase in the standard or other rates of income tax under the Labour Government so long as normal peacetime conditions continue.”

Hugh Gaitskell (1906–1963) British politician

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“It is not for any institutions or any foreign entities for that matter to dictate upon us what to and what not to tax. IMF and its chief has no business in even suggesting that we impose tax on text. The power to tax is inherent in Congress and any external intervention is already meddling with our sovereignty.”

Francis Escudero (1969) Filipino politician

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“But a tax on luxuries would no other effect than to raise their price. It would fall wholly on the consumer, and could neither increase wages nor lower profits.”

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Source: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter XVII, Taxes on Other Commodities, p. 161 (see also.. Consumption Tax)

“I believe in a President whose religious views are his own private affair, neither imposed by him upon the nation or imposed by the nation upon him as a condition to holding that office.”

John F. Kennedy (1917–1963) 35th president of the United States of America

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Context: That is the kind of America in which I believe. And it represents the kind of Presidency in which I believe — a great office that must neither be humbled by making it the instrument of any one religious group nor tarnished by arbitrarily withholding its occupancy from the members of any one religious group. I believe in a President whose religious views are his own private affair, neither imposed by him upon the nation or imposed by the nation upon him as a condition to holding that office.

“Without an analysis of women's status in the hierarchical system and the conditions under which she was enslaved, neither the state nor the class-based system that it rests upon can be understood.”

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“It has become increasingly evident, at least among those who aren't currency traders or true believers in the optimality of free markets, that it would be nice if this system could calm down a touch. One option is the Tobin tax, which would impose a tax of around 0.1 percent on currency trades, and act as a kind of damper on speculation.”

David Orrell (1962) Canadian mathematician

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“If a tax on malt would raise the price of beer, a tax on bread must raise the price of bread.”

David Ricardo (1772–1823) British political economist, broker and politician

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“By the standards of honest, if unorthodox, accounting, government workers don't pay taxes, but are paid out of taxes. In other words, they pay taxes out of money confiscated from taxpayers, who, in turn, pay taxes twice: on their own income and on the income of members of the bureaucracy. At the very least, this should disqualify state workers from voting.”

Ilana Mercer South African writer

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“The price-tax conditions necessary to sustain the Pareto optimality of a competitive market solution under the assumed convexity conditions are tantamount to standard Pigovian rules, with neither taxes imposed upon, nor compensation paid to, the victims of externalities.”

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William J. Baumol9

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