January 30, 2024 Join Asia Society Texas for an examination of the intricacies of the U.S.–China relationship and the potential future impacts on trade, Taiwan, and military ties in 2024.
Following Classical Economics
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The Wealth of Nations, 1776), Jean-Baptiste Say (
A Treatise on Political Economy, 1803), James Mill (
Commerce Defended, 1808), David Ricardo (
Principles of Political Economy and Taxation, 1817), John Stuart Mill (
Principles of Political Economy, 1848) and Ludwig von Mises (
Human Action, 1949), would concur with this notion – the reduction of taxes increases revenue. Steven Kates explains how “Reductions in taxation have a different effect on economic outcomes and can be consistent with classical principles of generating economic growth.”[1]
These ideas simply follow the economic foundations and philosophy of the great 15
th, 16
th, and 17
th century theologians of the University of Salamanca. They used the Word of God to develop economic insight which carried forward throughout the Dutch Republic; then England to the New World. From this worldview it was property rights; the keystone to liberty and an abund