Wicksell advocates unanimous consent for providing public goods. This paper reviews some existing works to fulfill Wicksell’s dream and proves that they are all ineffective. It then develops a model to solve for both the tax rate and the contribution simultaneously. It further proves that such...

Modern economic growth theory is trapped by its own equilibrium. This paper proves that the neo and new classical growth models do not derive growth and that they do not succeed in bringing population and households into the scene. To break through the development trap, this paper applies a...

Keynes (1936) offers two different definitions of income. This paper proves that his expenditure definition of income is negative. When the double-entry method helps change the Keynesian negative amount into positive, it abets the crime!

Keynes' Liquidity theory relies on three underpinnings: uncertainty, hoarding and speculation. This paper examines their validity, and finds that: 1. Uncertainty means precautionary demand; 2. Hoarding is the negation of money supply; 3. Speculation may lose money. It also finds that Keynes'...

This paper shows that Menger’s exchange theory is nothing but a utility maximization problem. This paper also proves that his so-called exchange result is farfetched. While Menger’s increase of utility is imaginary, this paper invokes Ricardo’s comparative advantage to produce the concrete...

Martin Feldstein claimed taxation increases investment return, and the increase changes in multiple rate. If his theory is correct, Feldstein should pay 100% tax to obtain infinite nominal capital return. This paper disproves Feldstein’s tax multiplier