In 1845, the renowned French economist Frederic Bastiat wrote a famous satirical parable known as “The Candlemakers’ Petition” during a period of rising protectionism in France. I’ve taken the liberty of revising and modernizing Bastiat’s famed economic fable for today’s rising tide of protectionism.
As the GOP tax plan makes its way through Congress, Zhong discusses its impact on the US and global economies.
We develop a model to analyze the effects of business tax reform on investment, gross domestic product and wages. Our model predicts modest but non-negligible impacts from the proposed business tax legislation.
While there is agreement about the need to make changes in Medicare to improve the efficiency of service provision, the only option is not further reliance on regulatory pressure. An alternative approach would harness the power of economic incentives to drive higher productivity in the health sector.
The unemployment rate is at a 17-year low, and the US economy continues to generate gobs of jobs. But the US labor market could be much more dynamic than it is, especially if we boost geographic mobility.
Recent work by the Government Accountability Office “paints a very bleak picture” of the U.S. retirement saving system. Several of GAO’s arguments are misleading; in reality, the U.S. retirement system, while obviously not perfect, is in many ways doing very well.
Lawmakers should stick with the principled structure they originally adopted for the tax treatment of accumulated profits and resist the urge to dial up the rates to address budgetary pressures.
The European prioritization of its business interests above nonproliferation in the Middle East has cost thousands of lives, and threatens to cost millions more.
In their newest report, Vincent H. Smith and Philip Pardey discuss transactional politics, research and development funding, and the US Farm Bill.
Farm bill dollars dedicated to food and agricultural research and development expand the overall size of the agricultural pie to benefit not only innovative farmers and agribusinesses but also taxpaying consumers who foot the bill.