Chapter 14 Commodity Taxation Reading • Essential reading – Hindriks‚ J and G.D. Myles Intermediate Public Economics. (Cambridge: MIT Press‚ 2005) Chapter 14. • Further reading – Diamond‚ P.A. and J.A. Mirrlees (1971) ‘Optimal taxation and public production 1: Production efficiency and 2: Tax rules’‚ American Economic Review‚ 61‚ 8—27 and 261—278. – Madden‚ D.‚ (1995) ‘An analysis of indirect tax reform in Ireland in the 1980s’‚ Fiscal Studies‚ 16‚ 18—37. – Murty‚ M.N. and R. Ray (1987)
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travellers to West Africa (Pietz‚ 1993). The theory of commodity fetishism Commodity fetishism is the process of ascribing unrealistic qualities to an object‚ whereby the human labour required making that object is lost once the object is associated with a monetary value for exchange. The object’s value appears to come from the commodity‚ rather than the human labour that produced it. Under capitalism‚ once the object emerges as a commodity that has been assigned a monetary value for equivalent
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Garbage is a commodity Garbage is always considered useless and unworthy. It is a by-product arising out of various human activities that center around production and consumption of goods. The major sources of garbage are households and the commercial‚ industrial‚ agricultural‚ construction and institutional sectors. Garbage has been quoted to be lacking economic importance to the owners‚ and as such destined for landfills. However‚ the impression that garbage is worthless becomes untrue when garbage
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Introduction Instability of commodity prices has always been a major concern of the producers as well as the consumers in an agriculture -dominated country like India. Farmers’ direct exposure to price fluctuations‚ for instance‚ makes it too risky for many farmers to invest in otherwise profitable activities. There are various ways to cope with this problem. Apart from increasing the stability of the market‚ various factors in the farm sector can better manage their activities
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120 100 100 60 3 16 NISM-Series-V-A: Mutual Fund Distributors Certification Examination *** 1000 120 100 100 50 3 17 NSDL–Depository Operations Module 1500 75 60 100 60 # 5 18 Commodities Market Module 1800 120 60 100 50 3 19 Surveillance
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Executive summary Agricultural market in Ethiopian has been long plagued by high transaction costs and non integrated market information. Small scale farmers came to the market with little information. Ethiopian commodity exchange‚ the newly established organization‚ is providing a market place where buyer and sellers can come together to trade and be assured of quality‚ delivery and payment. Currently‚ ECX has 496 members - 346 are suppliers and 150 sellers from the coffee industry. ECX started
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Education‚ which is not a public commodity‚ is often times misinterpreted as a purely public commodity because ideally the government should be able to provide education for everyone. A commodity is considered as a pure pubic good if it is unmanageable to exclude non-payers from consuming the good or if the good is not reduced upon consumption of superfluousconsumer. Although it is heartbreaking to know‚ higher education is not a purely public commodity since non-payers can easily be excluded in
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Marx opens up chapter one by explaining what commodity is‚ “Commodity is‚ first of all‚ an external object‚ a thing that through its qualities satisfies human needs of any kind indirectly/directly” (Marx‚ 125). Useful things can be arranged into two points of view; quality and quantity. These objects have many characteristics which allow them to be used in multiple ways. The use-value pertains to the commodity’s quality. Exchange-value‚ in essence‚ is when one use-value is exchanged for another use-value
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is famous for putting forward the postulate of commodity fetishism‚ the meaning behind Marx’s postulate is that commodities are produced by labour‚ labour back before globalization people could buy and sell local and people knew the labourer who made the commodity when they bought it. (Marx 1867‚ p. 164-165). However‚ in todays society that personal connection has been lost through globalization and capitalism. Two clear examples that show commodity fetishism are the documentaries of Blood Coltan
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Coffee – a Global Commodity John Bellusci May 29‚ 2011 Abstract What is a commodity? A commodity is a basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are used as inputs in the production of other goods or services. There are different commodities that are used such as sugar‚ gas‚oil‚wheat‚diamonds‚ gold‚ corn‚ copper‚ silk and coffee. Coffee has a long history of operating within a market economy since the 1800’s (Unknown‚ 2011). Coffee
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