Smuggling Term Analysis

...typically rise in riskier businesses, but these are also the most likely to go bankrupt. Smuggling is the riskiest of all. But people overestimate their chances of success in such industries... (full context)

...These bans also dramatically raised the price of imports by forcing merchants to rely on smugglers. But while merchants argued that these high prices sent even more gold and silver overseas... (full context)

...As a result, there is almost no legal trade between the two countries—but lots of smuggling. (full context)

...are still “oppressive restrictions” on when, how, and where wool must be transported to avoid smuggling. People who live near the sea face extra restrictions on buying wool, which reduces the... (full context)

...costs. For instance, taxes may prove expensive to collect, suppress certain kinds of business, encourage smuggling and tax evasion (and bankrupt lawbreakers who get caught), and waste people’s time. (full context)

...manufactured goods are completely prohibited. Most other goods face high import duties. These policies encourage smuggling and fraud, while decreasing Britain’s customs revenue. They encourage merchants to overstate exports and understate... (full context)

...duties are maintained, they should be designed to raise revenue, without reducing consumption or encouraging smuggling. (full context)

The best way to fight smuggling is by administering the customs tax like an excise tax: customs officers should see and... (full context)

...cheaper). Second, luxury taxes reduce consumption and suppress industry by raising prices. Third, they encourage smuggling, which is an unproductive waste of capital and labor. Finally, luxury taxes force merchants to... (full context)

...collectors). These tax farmers lobby for harsher tax laws, establish monopolies over certain taxes, encourage smuggling, and pass on the cost of their exorbitant profits to consumers. For instance, in France,... (full context)

...people in the colonies have the worst lives of all—even if they do consume commodities. Smuggling would be easier in America but simplifying the excise rules (and particularly taxing malt) would... (full context)