As German Chancellor Angela Merkel announced yesterday, the only way forward for the Euro is for a full political and fiscal union of the member countries. With small peripheral Euro economies, the need for political and fiscal integration was apparent from the start. However, lacking political will, it was impossible to implement. Now with anti-EU […]Read More The Possible End of the Euro in Peripheral Countries
To a roomful of academics in August, Stephen Harper announced the end of Canada’s “brain drain” – the end of highly skilled professionals leaving Canada for the U.S. and other countries. Although Canada’s “brain drain” was likely overblown even during the height of its hype (Here is a Stats Can report on the issue from […]Read More Canada’s Brain Gain
Obama’s debt-reduction plan is unlikely to pass Republican-dominated congress because of its focus on higher taxes for the rich, ie. those making over $250,000 a year, as well as higher investment taxes. In total, Obama hopes to take $1.5 trillion more from wealthy Americans. Unfortunately, higher income taxes reduce the incentive to work and higher […]Read More Why Isn’t Obama Considering a Consumption Tax?