Ricardian Non-Equivalence, Wolf Invitation, and Usurpation

6 Pages Posted: 11 Oct 2012 Last revised: 2 Sep 2014

See all articles by Hak Choi

Hak Choi

Chienkuo Technology University - Department of International Business; Chung-Hua Institution for Economic Research

Date Written: October 11, 2012

Abstract

Ricardian equivalence is a theorem which states that bonds and taxation are mutually substitutable. This paper proves that the current understanding of this theorem rests on some illegal mathematical operations. Otherwise, bond issuing requires a dishonest government printing money to buy up the unsold ones. This paper also proves that government bonds are bad investment, and that lending money by central banks is usurpation.

Keywords: Taxation, Bonds, Seigniorage

JEL Classification: E51, E52

Suggested Citation

Choi, Hak, Ricardian Non-Equivalence, Wolf Invitation, and Usurpation (October 11, 2012). Available at SSRN: https://ssrn.com/abstract=2160241 or http://dx.doi.org/10.2139/ssrn.2160241

Hak Choi (Contact Author)

Chienkuo Technology University - Department of International Business ( email )

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Changhua City, 500
Taiwan
+886 91 901-4618 (Phone)

HOME PAGE: http://euntold.wordpress.com

Chung-Hua Institution for Economic Research ( email )

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Taipei
Taiwan

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