fiscalism

Etymology

Definitions

1. 1

   The idea that taxation should form a central part of a government's economic policy.

   • Fiscalism is a necessary consequence of the historical development of the system of taxation.
   • What is more, the advantage of this sort of fiscalism is that government is enabled to divert the wealth of the rich from private luxury consumption to the benefit of the commonwealth and at the same time to re-distribute it more evenly.
   • Among the institutions established according to fiscalism during the eighteenth century, we need to mention the life-term tax farming system (malikane sistemi), which had an impact on the entire economy, including industry.
2. 2

   Excessive, oppressive taxation.

3. 3

   The belief that fiscal policy should function as the primary macroeconomic stabiliser…

   The belief that fiscal policy should function as the primary macroeconomic stabiliser (e.g. for controlling inflation), often associated with the IS–LM model.

   • With a relatively inelastic IS curve and a relatively elastic LM curve Keynesianism became synonymous with 'fiscalism' and policies to fine tune the macroeconomy.

The neighborhood

• neighborfiscalist