Optimal tax in his article titled "Using Elasticities to Derive Optimal Income Tax Rates" derives a formula for optimal level of income tax using the both compensated and uncompensated elasticities. Saez writes the tradeoff between equity and efficiency is a central consideration of optimal taxation, and implementing a progressive tax allows the government to reallocate their resources where they are needed most. However, this deters those of higher income levels to work at their optimal level. Saez decomposes the marginal effects of a tax change into mechanical, behavioural and welfare effects, as follows: The sum of these effects should be zero at
Keeling Curve Keeling Curve The Keeling Curve is a graph of the accumulation of carbon dioxide in the Earth's atmosphere based on continuous measurements taken at the Mauna Loa Observatory on the island of Hawaii from 1958 to the present day. The curve is named for the scientist Charles David Keeling, who started the monitoring program and supervised it until his death in 2005. Keeling's measurements showed the first significant evidence of rapidly increasing carbon dioxide levels in the atmosphere. According to Dr Naomi Oreskes, Professor of History of Science at Harvard University, the Keeling curve is one of the most important