science · 22 December 1859 · 165 years ago
birth
Born 22 Dec 1859; died 14 May 1924 at age 64.
Italian mathematical economist who built on the general equilibrium theory of Léon Walras and was instrumental in convincing Walras to incorporate variable production techniques - and, by extension, marginal productivity theory - into the Walras theory. Barone's greatest contribution was in getting the "Socialist Calculation" debate started with his famous 1908 article. His position was that it was indeed possible in a collectivist state for a planning agency to calculate prices for maximum efficiency. He was the first to apply indifference curve analysis to compare the relative burdens of income taxes and excise taxes (1912). He opposed "progressive" taxation schemes as based on dubious utilitarian calculations.
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