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Re: Efficiency of the markets (contd.)

K.S.Sastry wrote:

>  >. . .

> >   Research in public finance has thus far proceeded on the assumption
> >that lumpsum taxes and transfers are not feasible. I am canvassing the

> >that they are feasible. Of this, more later

For those who would say that lump sum transfers are not feasible,
consider the example of the unification of India- it was a "lump sum
transfer" of landed assets "owned" by some 500+ maharajahs and
princelings. Likewise, the abolition of the so called "privy purse" or
huge allowances paid from tax money to the former princelings.

Any argument against lumpsum transfers must explain why the unification
of India was not completely wrong.


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