– Rent, wage, interest and profit
– Proudhon’s notion of a “windfall”: labour as a catalyst of a natural process
– François Quesnay (1694-1774): “classes laborieuses” / “classes oisives”
– Hamilton vs. Jefferson (1789-1804)
– What are the principles for taxation of labour and of capital?
– Accounting arbitrage; fiscal arbitrage

Guest lecture by Paul Jorion on the 22nd of February 2013 at Vrije Universiteit Brussel