Investor Presentaiton
Social contract theory
•Contemporary societies are bound by social imperative which requires the
citizens to pay tax so that government can apply whatever is raised to provide
public goods and services.
• Kantilya, an ancient Indian Philosopher and a contemporary of Aristotle, had
said:
when there was no order in the society and only the law of the jungle
prevailed, people(were unhappy and desirous of order) made Manu the son
of Vivasvat, their king and they assigned to the king one-sixth of the grains
grown by them, one-tenth of the other commodities and money. The king then
uses these to safeguard the welfare of the subjects. Those who do not pay their
taxes take on the sins of the king and the king who fails to provide for his
subjects takes on the sins of the subjects.View entire presentation