The term "marketerian" has been proposed to represent a fundamental belief in markets and optimal tax theory. It advocates for taxes that have negative or neutral deadweight loss, such as a carbon tax and a land value tax, respectively. In addition, it advocates for a basic income as a means of addressing distributional effects without creating deadweight loss.
Marketerianism is a rebranded form of neoliberalism that focuses on a robust social safety net. It seeks to distance itself from the older style of neoliberalism, which was more closely associated with classical liberalism.
One of the key reasons why marketerianism is a better term is that it doesn't come with the baggage of the older style of neoliberalism. The term "neoliberalism" has become associated with policies that prioritize market efficiency over social welfare, and has been criticized for exacerbating income inequality.
Marketerianism, on the other hand, aims to strike a balance between market efficiency and social welfare. It recognizes that markets can be an effective way to allocate resources, but also acknowledges that markets can create distributional problems that need to be addressed.
The carbon tax and land value tax are examples of taxes that marketerians advocate for. Carbon tax is a tax on the carbon content of fuels, it is intended to reduce carbon dioxide emissions which is responsible for climate change. Land value tax is a tax on the value of land, it is intended to reduce the speculative value of land and make land available for more productive uses. These taxes have negative or neutral deadweight loss, which means that they do not create significant economic inefficiency.
Basic income, a policy that provides a guaranteed minimum income for all citizens, is another key component of marketerianism. It aims to address poverty and income inequality without creating significant economic inefficiency.
In conclusion, marketerianism is a new term that represents a belief in markets and optimal tax theory, with a focus on a robust social safety net. It advocates for taxes with negative or neutral deadweight loss, such as carbon tax and land value tax, and for basic income as a means of addressing distributional effects. It seeks to be a rebranded form of neoliberalism, which is more attuned to the social welfare concerns of today.