August 3rd, 2011
Economists have some funny ideas. Often these ideas are controversial. Sometimes these ideas are brilliant and intuitive. Other times these ideas are brilliant, intuitive, and just plain wrong. It’s often difficult to know the difference between the two. It usually takes another economist to figure it out.
Economists have long held the (brilliant, intuitive, and possibly wrong) belief that people make the best decisions for themselves. This is called rational choice theory (or, simply, rationality) and it underlies almost all economic theory. This confuses a lot of non-economists who understand “rationality” to mean “sane” or “making good choices.” Rationality to...
Continue Reading
August 2nd, 2011
Special Report: China's shortcut to Wall Street
Reuters, August 2, 2011
Pair admit guilt in Afghan bribery case
Star Advertiser, August 2, 2011
Report highlights Island’s role in US tax avoidance
The Royal Gazette, August 2, 2011
Swiss and Germans 'to sign tax evasion deal'
AFP, August 1, 2011
US citizen? The IRS is after you….
Globes, August 1, 2011
CORRECTED-S.Africa may reopen arms deal probe, pressuring Zuma
Reuters, August 1, 2011
August 2nd, 2011
Last week,
The Daily Show with Jon Stewart lampooned the failure to implement many elements of the Dodd-Frank Consumer Protection Act, even one year after the law's passage. One of the most important elements awaiting approval is Section 1504 (also known as the Cardin-Lugar provision), which would require extractive industries to "Publish What they Pay" to governments in gaining access to the natural resources of a country, in order to prevent illegal activities and exploitation. However,
delays from the SEC prevent the regulations from actually being implemented. Beyond the obvious humanitarian benefits, and improved economic competition that come with transparent...
August 2nd, 2011
Continue Reading
