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Adam Smith on public expenditure and taxation

Author

Listed:
  • Maurício C. Coutinho

    (Universidade Estadual de Campinas - Unicamp)

Abstract

This paper presents Adam Smith’s view on taxation and public expenditure, by means of an almost literal reading of the Wealth of Nations famous passages on the "duties of the sovereign" and on the "maxims of taxation". Contrarily to the commonest usage of these passages, we will show that their core is the preoccupation with the public expenditure soaring and the defence of decentralisation. Furthermore and also contrarily to the existing interpretations we defend the non-existence of any contradiction between Smith’s income and price theory (and the incidence hypothesis), provided due attention is paid to the guiding role of the "maxims".

Suggested Citation

  • Maurício C. Coutinho, 2001. "Adam Smith on public expenditure and taxation," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 11(2), pages 11-30, December.
    • Handle: RePEc:nov:artigo:v:11:y:2001:i:2:p:11-30
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    File URL: http://www.face.ufmg.br/novaeconomia/sumarios/v11n2/MAURICIO.pdf
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    References listed on IDEAS

    as
    1. Jacob Viner, 1927. "Adam Smith and Laissez Faire," Journal of Political Economy, University of Chicago Press, vol. 35, pages 198-198.
    2. Edwin G. West, 1990. "Adam Smith and Modern Economics," Books, Edward Elgar Publishing, number 466.
    3. Nathan Rosenberg, 1960. "Some Institutional Aspects of the Wealth of Nations," Journal of Political Economy, University of Chicago Press, vol. 68, pages 557-557.
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    More about this item

    Keywords

    Adam Smith; taxation; public expenditure;
    All these keywords.

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)

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