June 1st, 2011
I am rarely surprised when those who are not economists make egregious economic errors. I am only moderately surprised when those errors are in the Financial Times. I suppose I should get used to it.
Here’s a little basic economics. Economists, whether talking about banking or housing, trees or oil, always follow a set of fundamental principals. These include very basic ideas. For example, when conducting cost-benefit analysis, count the entire range of relevant benefits and costs. Say you want to do an economic analysis of a project to build a bridge. You count all the costs—labor, materials, etc.—and all...
Continue Reading
May 31st, 2011
Africa Looks Poised for Second Independence
InDepth NewsViewpoint, May 31, 2011
New directorate to probe financial crimes
Indian Express, May 30, 2011
Govt bid to put figure to black money
The Times of India, May 30, 2011
FE Editorial: Taxing tangle
The Financial Express, May 31, 2011
U.S. Engages With an Iron Leader in Equatorial Guinea
New York Times, May 30, 2011
Light-footed Google in $4.6bn tax dodge
The Sunday Times, May 30, 2011
May 31st, 2011
The Sunday Times did an
expose of Google’s tax affairs Sunday.
I’ll declare an interest: they asked me to help the investigation, and I did.
The findings? Google has avoided £3 billion of tax worldwide over the last five years. It’s tax rate outside the USA is just 3%.
In 2009, if Google had declared profits in proportion to sales in the UK in the ratio that the worldwide accounts showed (about 35% profit pre tax) then the expected UK tax bill would have been about £190 million.
Continue Reading
May 27th, 2011
Anti-Corruption Views - Suspicious Activity Reports and security
TrustLaw, May 26, 2011
Swiss Bank Earnings May Be Squeezed by Rule Changes, IMF Says
Bloomberg, May 26, 2011
U.S., Mexico press effort to freeze kingpins’ cash
Washington Post, May 26, 2011
Portugal rapped over bribery
Tax News, May 28, 2011
Op/Ed: Tax Holiday would cheat American taxpayers
Third Coast Digest, May 27, 2011
Corruption Challenges Indonesia's Government
PBS NewsHour, May 26, 2011
