On the general relativity of fiscal language

On the general relativity of fiscal language
Jerry R. Green, Jerry R. Green
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Last edited by MARC Bot
December 11, 2024 | History

On the general relativity of fiscal language

A century ago, everyone thought time and distance were well defined physical concepts. But neither proved absolute. Instead, measures/reports of time and distance were found to depend on one's reference point, specifically one's direction and speed of travel, making our apparent physical reality, in Einstein's words, "merely an illusion." Like time and distance, standard fiscal measures, including deficits, taxes, and transfer payments, depend on one's reference point/reporting procedure/language/labels. As such, they too represent numbers in search of concepts that provide the illusion of meaning where none exists. This paper, dedicated to our dear friend, David Bradford, provides a general proof that standard and routinely used fiscal measures, including the deficit, taxes, and transfer payments, are economically ill-defined. Instead these measures reflect the arbitrary labeling of underlying fiscal conditions. Analyses based on these and derivative measures, such as disposable income, private assets, and personal saving, represent exercises in linguistics, not economics.

Publish Date
Language
English
Pages
15

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Edition Availability
Cover of: On the general relativity of fiscal language
On the general relativity of fiscal language
2007, Division of Research, Harvard Business School
in English

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Book Details


Edition Notes

"June 2006"--Added t.p.

Includes bibliographical references.

Published in
Boston
Series
Working paper / Division of Research, Harvard Business School -- 07-085, Working paper (Harvard Business School. Division of Research) -- 07-085

The Physical Object

Pagination
15 p.
Number of pages
15

Edition Identifiers

Open Library
OL57141583M
OCLC/WorldCat
164861587

Work Identifiers

Work ID
OL42099016W

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