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Theoretical Inquiries in Law

Editor-in-Chief: Klement, Alon

2 Issues per year

CiteScore 2017: 0.49

SCImago Journal Rank (SJR) 2017: 0.345
Source Normalized Impact per Paper (SNIP) 2017: 0.727

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Volume 17, Issue 2


Compounding errors: why heightened regulation and taxation are bad antidotes for recessions and income inequality

Richard A Epstein
Published Online: 2016-08-10 | DOI: https://doi.org/10.1515/til-2016-0024


The current concerns with laggard growth and income inequality have led to a widespread set of demands for more regulation and higher taxation to reverse the trend. These two approaches move matters exactly in the wrong direction. The correct response is to find ways to reduce tax burdens and barriers to entry, and to reduce the political uncertainty associated with new government measures. It may well be too late, worldwide, for a substantial rollback in the welfare state. But the current proposals will only prolong the dismal results on both fronts in any arena in which they are tried.

About the article

* The Laurence A. Tisch Professor of Law, The New York University School of Law; the Peter and Kirsten Bedford Senior Fellow, The Hoover Institution, the James Parker Hall Distinguished Service Professor of Law Emeritus and Senior Lecturer, The University of Chicago. My thanks to Rachel Cohn and Krista Perry, The University of Chicago Law School, Class of 2016, for their prompt and expert research assistance.

Published Online: 2016-08-10

Published in Print: 2016-07-01

Citation Information: Theoretical Inquiries in Law, Volume 17, Issue 2, Pages 711–737, ISSN (Online) 1565-3404, ISSN (Print) 1565-1509, DOI: https://doi.org/10.1515/til-2016-0024.

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