Knowledge that Transforms

The current doctrine stated, 394. — In fact, demand often does not respond to price in the way assumed, 396. — The penumbra of indeterminate prices, 397. — Cases of fixed seasonal supply, 398. — Supplies that can be carried over, 400. — The demand curve not always negatively inclined, 402. — Speculation does not necessarily stabilize prices, 403. — Commodities produced continuously, 403. — Stock exchange dealings, 405. — The traditional grounds for justifying speculation not applicable to stock exchange dealings, 407. — Application of the present reasoning to dumping, 409. — To war prices, 410. — Conclusion, 410.

The problem: what is the sound and enduring solution of the tax problem? I. The surtaxes. (1) The surtaxes excessive. Their declining yield, 529. — (2) Tax-free securities, 530. — (3) Can the leaks be stopped, 532. — (4) Tax morality, 536. — (5) Theory of surtaxes, 537. — (6) The scientific solution, 539. — The immediate solution, 540. — II. Income taxes on corporations and business. (8) The income tax as a producer's or business tax, 541. — (9) Relation between personal and business income taxes, 542. — (10) The proposed corporation surtax, 544. — III. Basis of the Business Tax, 548. — (11) Shifting, 548. — (12) Simplicity versus equity, 551.