An injudicious tax offers a great temptation to smuggling. But the penalties of smuggling must rise in proportion to the temptation. The law, contrary to all the ordinary principles of justice, first creates the temptation, and then punishes those who yield to it…
— Adam Smith
Book V of Adam Smith’s classic is entitled “Of the Revenue of the Sovereign or Commonwealth,” includes the above as well as many thoughtful passages about what we nowadays call public finance. Our Political Economy Book Club will discuss this final part of Wealth of Nations on Wednesday, November 12. You can download or read the book on line from several sources, borrow it from many public libraries, or purchase a copy inexpensively.
For further information or to let us know you’re coming, email PEBC coordinator Bob Matter or call 312 450 2906.
If you want to understand the underlying causes of persistent poverty in America, you’ll benefit from this course. This is the “modern” version, based on Bob Drake’s “Abridged for Modern Readers” edit of Henry George’s original book. As always, the first class session is entirely free, but if you decide to enroll in the course we request a $25 fee to help cover costs. Veteran HGS instructor Bob Jene will help you understand not only the causes of economic stagnation, but a workable remedy.
This course will meet for six consecutive Friday’s beginning January 6. Our space at Overflow Coffee Bar is directly served by CTA routes 62 and 29, and a reasonable walk from Red, Green, and Orange Line Roosevelt station, as well as Metra Electric’s Museum Campus and 18th Street stops.
Metropolitan Planning Council’s Alden Loury will discuss his research into the costs that racial and ethnic segregation impose on all of us here, and might be persuaded to hint at the recommendations to come from phase 2 of the study. We have a post with a bit more information.