Markets in Vice, Markets in Virtue / Edition 1

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What have the market forces of supply and demand to do with making the tax system more equitable?

John Braithwaite argues that the policies that ensure vigorous price competition and more efficient production of goods also drive more efficient production of "bads".

Braithwaite explores the implications of this argument through a detailed comparative case study of taxation in the United States and Australia. For tax avoidance, like any good or service, follows market logic: as the supply increases, so does the demand. His compelling conclusion is that it is possible to "flip" markets in the vice of tax avoidance to markets in the virtue of tax system integrity.

Braithwaite sets out specific regulatory strategies and gives examples of how these might be applied. The result is a blueprint for restoring the equity of Western tax systems and a breakthrough theory of how regulators can support markets in virtue and curtail markets in vice.

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Editorial Reviews

From the Publisher

"This is a lively book, full of insights and provocative ideas about regulation...It works at many levels: as empirical study of tax avoidance and regulation, as illustration of sophisticated application of social science theory, and as a vehicle for new theoretical ideas about regulation."--Bill Martin, Flinders University, Adelaide, for Contemporary Sociology

"This book should be required reading for tax officials and would educate them on how to flip markets of aggressive tax planning to markets of tax compliance. The book also offers lessons on how to proactively prevent the next cycle of aggressive tax planning."--The Journal of the American Taxation Association

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Product Details

  • ISBN-13: 9780195222012
  • Publisher: Oxford University Press, USA
  • Publication date: 3/1/2005
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 252
  • Product dimensions: 9.40 (w) x 6.00 (h) x 0.60 (d)

Meet the Author

John Braithwaite is Professor in the Regulatory Institutions Network at the Australian National University. He has won a number of international awards for his research on both restorative justice and responsive regulation, most recently, he was awarded the 2004 Edwin H Sutherland Award by the American Society of Criminology and the 2004 Kalven Prize of the Law and Society Association.

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Table of Contents

Ch. 1 Competition policy and efficient vice 3
Ch. 2 Tax systems in crisis 16
Ch. 3 The Australian advice market 37
Ch. 4 Enforcement challenges 60
Ch. 5 Australian innovation in regulating aggressive tax planning 68
Ch. 6 The New York advice market 103
Ch. 7 International arbitrage 120
Ch. 8 IRS enforcement initiatives 127
Ch. 9 Comparing the drivers of and responses to aggressive tax planning in Australia and the US 137
Ch. 10 Reforming the law 144
Ch. 11 Meta risk management using natural systems 156
Ch. 12 Intelligent tax office culture 167
Ch. 13 Reforming enforcement strategy 177
Ch. 14 Flipping markets in vice to markets in virtue 197
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