2012 Reprint of 1932 Edition. Exact facsimile of the original edition, not reproduced with Optical Recognition Software. This essay is one of the important early works that together "represent the first integration and systematic elaboration of the Austrian theories of money, capital, business cycles, and comparative monetary institutions, which constitute the essential core of Austrian macroeconomics. Indeed these works have profoundly influenced postwar expositions of Austrian or "capital-based" macroeconomics down to the present day. The creation of such an oeuvre would be a formidable...

These lectures contain a masterful summing-up of Nicholas Kaldor's critique of the foundations of mainstream economic theory.

Part one of this title examines the issue of expenditure tax in principle and includes chapters on the following: Income, expenditure and taxable capacity; the concept of income in economic theory; taxation and savings; taxation and risk-bearing; taxation and the incentive to work; company taxation; taxation and economic progress. Part two examines the issue of expenditure tax in practice, asking whether personal expenditure tax is practicable and putting forward a proposal for surtax reform