Spencer Heath Archive

Item 846

Random taping by Spencer MacCallum from conversation with Heath

December 1955

There can be no doubt that a tax that is laid upon one part of the market, depleting it in that part, causes the goods and services there to become less available on the market and therefore to command higher unit prices, which is the same thing as saying that all other commodities and services in the market fall in value to the same extent that these rise in unit value by reason of their artificial scarcity.