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Ability-to-Pay Principle of Taxation

Dr. Ikramul Haq[i] It states that if a given amount of revenue is needed to finance public services, then each taxpayer should contribute in line with his ability-to-pay taxes. Those who possess more economic power (income and wealth) should contribute…

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Critique of extractive capitalism—II Surplus, wealth circulation & human development

  Dr. Ikramul Haq Modern economic systems continue to operate on a foundational assumption: accumulation drives growth. Wealth concentration is often portrayed as a necessary by-product of innovation, efficiency and productivity. Nevertheless, contemporary evidence increasingly suggests that excessive accumulation (extreme…

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Critique of extractive capitalism—I Growth, inequality & insecurity

    Dr. Ikramul Haq   Modern capitalism has become extractive, concentrating wealth and generating insecurity. Traditional socialism also failed to protect individual autonomy. A humanistic economic framework is needed—one that promotes cooperation, economic security and development of human potential….

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