How much of the consumer surplus generated by innovation ends up as Schumpeterian profits?
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Compared to the consumer surplus from innovation the retention of profits by the innovators is vanishingly small.
FORBES: Apple's Profits, Apple's Taxes, Are Near Irrelevant: A Response To Robert Reich
The consumer surplus here is vastly, hugely, greater than whatever social harm is coming from tax dodging.
FORBES: Apple's Profits, Apple's Taxes, Are Near Irrelevant: A Response To Robert Reich
The other thing we want to know is how much is the consumer surplus from what Apple does?
FORBES: Apple's Profits, Apple's Taxes, Are Near Irrelevant: A Response To Robert Reich
This observation that the Net provides massive consumer surplus but not enough real commerce enjoys a ring of truth.
The consumer surplus of my getting clean water for less than that price is the difference between the two prices.
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For there will indeed be differences between firms: some will be able to appropriate more of that consumer surplus, others less.
FORBES: Apple's Profits, Apple's Taxes, Are Near Irrelevant: A Response To Robert Reich
In our global economy, the massive consumer surplus generated by free services is primarily spent on the consumption of imported goods.
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And if we do take that indication of the consumer surplus, that average that innovation brings, then we come up with some really rather remarkable numbers.
FORBES: Apple's Profits, Apple's Taxes, Are Near Irrelevant: A Response To Robert Reich
And a greater consumer surplus is, by definition, some of that increase in wealth going to the consumers, not the owners of the means of production.
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It has to provide a greater than before consumer surplus to get the consumer to purchase the new products (or those things made by the new method of production).
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After all, the "consumer surplus" of Facebook the estimated value that people get from using it is far greater than the firm's profit, while "shares" issued to shareholders make these investors members of the Facebook corporate commons.
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TABOR, which was passed by voters in 1992, pegs government spending to the growth in population and consumer prices, and gives any surplus revenue back to the voters.
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Many of today's prescriptions for instance, that Japan should cut taxes to boost consumer demand and thereby reduce its current-account surplus are based on it.
Nationally, the unemployment rate remains near a three-decade low, the federal government still has a budget surplus and over the past three months consumer confidence has risen, according to the Conference Board, a business lobby.
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