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By reducing taxpayers' taxable income, the charitable deduction shifts part of the cost of private charitable giving onto the rest of society, encouraging charitable gifts. While the charitable deduction clearly benefits charities, it also shrinks the federal tax base. This is the basic justification for a tax subsidy to charities: if charities produce public goods, they will be subject to market failure and will not be supplied, justifying a government subsidy for them. The vast majority of charities do not produce exclusively public goods. As a result, the scope of the current charitable deduction is far broader than can be justified by any appeal to the theory of market failure. From the perspective of economic efficiency, it is hard to justify the current size and scope of the feder...
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1. Introduction
Crises and disasters, whether natural or man-made, are defined by conditions of uncertainty, disorder, and stress. This raises the q...
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In an effort to minimize its contribution to climate change by reducing greenhouse gas emissions, California enacted California Senate Bill 1368. The bill prohibits utilities from purchasing electrical power from plants that emit more greenhouse gases than natural-gas-fired power plants. This burdens interstate commerce by prohibiting power purchases from out-of-state coal-fired plants and is likely to lead to a constitutional challenge under the dormant Commerce Clause. To address the validity of California Senate Bill 1368 under traditional dormant Commerce Clause analysis, one necessary step is to answer a question that has troubled scientists and economists for decades: What is the value of California's interest in reducingits contributions to climate change? This Note examines that...
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The battle over dismantling health reform dominates today s health policy agenda. Some opposition to the Patient Protection and Affordable Care Act (P...
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This notice is to advise interested persons that PHMSA will conduct a public meeting in preparation for the 40th session of the United Nations Sub-Committee of Experts on the Transport of Dangerous Goods (UNSCOE TDG) to be held November 28 to December 7, 2011, in Geneva, Switzerland. During this meeting, PHMSA is also soliciting comments relative to potential new work items which may be considered for inclusion in its international agenda. Information Regarding the UNSCOE TDG Meeting:
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1. Introduction
One of the primary social problems studied by economists is how to fund the provision of public goods. What makes the public goods p...
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The concept of global public goods has been advanced as a way of understanding certain transborder and global problems and the need for a coordinated ...
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1. INTRODUCTION
Traditionally, economists have focused almost exclusively on economic (i.e., monetary) policy instruments, together with command and...
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1. Introduction
Models of economic growth with multiple equilibrium paths offer an explanation as to why we often observe diverse growth performance...
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This panel was convened at 10:45 a.m., Thursday, March 25, by its moderator, Rebecca Bratspies of City University of New York School of Law, who intro...