The Treatise Tries To Analyze Not Only

Fines Are Preferable To Imprisonment And Other Types Of Punishment Because They Are More Efficient. With A Fine, The Punishment To Offenders Is Also Revenue To The State.

Still, Intuitive Assumptions About Behavior Is Only The Starting Point Of Systematic Analysis, For Alone They Do Not Yield Many Interesting Implications.

I Argued Last Year On My Shared Blog That Selling The Right To Immigrate Would Be The Best Approach To Legal Immigration. Among Other Benefits, The Revenue From Immigrants' Payments Could Reduce Taxes. Paying For The Right To Immigrate Would Also Negate The Argument That Immigrants Get A Free Ride When They Gain Health Care And Other Benefits. Moreover, Making Immigrants Pay Would Attract The Type Of Immigrants Who Came Much Earlier In American History: Young Men And Women Who Are Reasonably Skilled And Want To Make A Long-term Commitment To The United States.

Different Constraints Are Decisive For Different Situations, But The Most Fundamental Constraint Is Limited Time.

Economy Is The Art Of Making The Most Of Life.