Centralization is achieved by suppression of local parasitism and rents, and lev

Centralization is achieved by suppression of local parasitism and rents, and levying taxation instead, that is used for that suppression. This drastically reduces transaction costs and associated risks, which in turn produces volume and velocity. The problem of taxation arises when it is not used for the purpose of suppressing local parasitism and rents and instead simply centralizes parasitism and rents.


Source date (UTC): 2018-07-23 16:05:00 UTC

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