UCLA gave transplant to Japanese gang boss PhysOrg
Debunking Skill-biased Technical Change Econospeak
Why Is This Legal? Elizabeth Warren, Credit Slips
Greg Mankiw: The Problem With the Corporate Tax Mark Thoma
Hedge Fund Fees and Liquidity – Setting it Straight Roger Ehrenberg
Risk wasn’t dispersed Brad Setser. This paragraph caught my eye:
The authorities in the UK shouldn’t get a free pass either. Their desire to court international business has meant that London has become a data black hole. An enormous amount of money flows through London but the UK’s balance of payments data provides next to no information about the sources of that money. The UK’s attitude may be good for business, but it has resulted in less transparency in the global financial system – and more difficulty tracking who has assumed key financial risks.
The Trouble in Housing Trickles Up New York Times
Antidote du jour. Normally I don’t go for video, but….
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Re Mankiw: The full implication of his thinking is – and I know I merely belabor the obvious but it needs repeating – there ought be no taxes on capital at all. Non-corporate businesses are no less tax collectors than corporations, so why tax them? But wait: higher taxes on dividends and capital gains will similary promote capital flight, so we cannot tax that either. Who’s left to tax? But of course, only labor – people whose incomes are wages and salaries. I only exaggerate the central thinking of what can be found at various Republican House Policy Committee web pages.
The article proves the point that sometimes, the best way to scam somebody is to tell them straight up what you mean to do, to hide one’s true goal in plain sight.