David B. Smith - Böcker

David Smith shows the damage that is caused to economic welfare by high taxation. He also shows how unequal the distribution of public spending is across the regions of the United Kingdom. Future developments in public spending are examined, together with a programme for reducing the size of government to a manageable level.

Amidst the debates about 'austerity' a number of vital debates in public finance have been sidelined. Because the reductions in government spending - small though they have been so far- have been designed to reduce the government's borrowing requirement, there has been little discussion of whether the size of the state should be reduced in order to facilitate long-run reductions in the burden of taxation. This book traces the history of the growth of the size of the state over the last 100 years whilst also making international comparisons. There is a particular focus on recent and projected future developments which shows that, though the total level of government spending has not decreased significantly in recent years, there has been a big redirection of spending from some areas to others. The authors then examine the evidence on the relationship between taxation and economic growth. As well as reviewing recent literature, they also undertake new modelling that higher taxes are detrimental for growth. In the final part of the book, the whole UK tax system is reconsidered in a proper economic framework.The UK has one of the world's most complex tax systems and its incoherence has increased over the last five years.Sweeping reforms are proposed to the system which would involve abolishing around 20 taxes and the development of a simple, predictable tax system based on principles that should gain wide acceptance.

David B. Smith This is a book about the application of economic theory to a unique form of social control - public utility regulation. A central theme of this work is to examine the role that economics has played in shaping the rationale and direction of regulatory practices. While economic theory has played an important role in the shaping of regulatory policy in the past, it has an even greater potential role to play in the future as the regulatory community grapples with the many challenges of a changing economic environment. This is a very timely and much needed piece of work that can serve as a reference for decision makers who are facing the challeng­ ing problems of deregulation and competition. This work is comprised of 13 selected articles that guide the reader from an initial discussion of why we decided to regulate certain industries in the first place to a specific analysis of what role economic theory has played in the electric, natural gas, telecommunications, and water indus­ tries, and whether it should be allowed to play an even more dominant role in the future. The reader is then provided with a more modern version of what economists mean by the concept of natural monopoly and a menu of policy options that will allow society to derive any benefits from such a market structure.

'EIGHT YEARS WITH RANGERS, MORE THAN 300 GAMES, INCREDIBLE HIGHS, PAINFUL LOWS – AND IT ALL CAME DOWN TO ONE NIGHT IN THE NOU CAMP'24 May 1972. The biggest night in the history of Rangers. Having overcome the might of Italian giants Torino and Beckenbauer’s Bayern Munich en route to the final of the European Cup Winners’ Cup, Dynamo Moscow stood between the Light Blues and the trophy.The stage was set in Barcelona for an unsung hero: Dave Smith. Creator of two of the goals on the night and arguably man of the match.In a rollercoaster career, Smith joined the Ibrox club from Aberdeen in 1966 for a record fee. He tasted defeat in the 1967 European Cup Winners’ Cup final and had his career blighted by two horrific leg breaks during a period in which he also experienced the tragedy of the Ibrox disaster.But by 1972 Smith was a lynchpin of Willie Waddell’s team. Playing as sweeper, he dicated the tempo of games with his vision and pinpoint passing. The star of the Nou Camp victory was voted Player of the Year in Scotland to cap the most memorable of seasons.He departed Rangers in 1974, making a shock switch to Arbroath after a fallout with new Ibrox manager Jock Wallace, before going on to star overseas in South Africa and then alongside George Best for the LA Aztecs in America. Rejecting the chance to join Paris Saint-Germain, Smith chose to end his career in Scotland’s lower leagues as player-manager at Berwick Rangers where he would find success and happiness playing the game the way it was meant to be played.