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Developing countries, in constructing modern tax systems, would do well to adopt policies based on proven economic principles so that fiscal instruments do not perpetuate stagnant economies and underemployment of labor and resources. To achieve growth and jobs and ever higher levels of living, they should avoid the mistakes of the United States and many other industrially developed countries in burdening business-enterprise production-with heavy and obstrusive taxes. They, and developed countries as well which are committed to progressive change based on tax reform, like the United States, should use land values where possible to finance local governments so as to avoid taxing the other factors of production. And where necessary taxes should be levied on consumption, for taxes on business income misallocate resources and hamper market discipline in promoting output and efficiency. [ABSTRACT FROM AUTHOR]

This article examines the effect of peddling upon industrialization and economic development and the evolution of institutional arrangements in marketing in the Antebellum period. After 1840 peddling in America was undertaken, to an increasing extent, by newly arrived immigrants from Germany who displaced the traditional "Yankees" from the trade. The relationship between peddling and the development of entrepreneurship is explored, along with the special opportunities that peddling provided for economic and occupational mobility in the American milieu. The frequency with which individuals who started careers as peddlers rose to prominence in the fields of merchandising and finance points to the importance of the "schooling" function of this institution for newly arrived immigrants in American folkways, business practices, and commercial possibilities. [ABSTRACT FROM AUTHOR]