The new mercantilist challenge
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- Written by Dani Rodrik
- Category: Analysis
he history of economics is largely a struggle between two opposing schools of thought, “liberalism” and “mercantilism.” Economic liberalism, with its emphasis on private entrepreneurship and free markets, is today’s dominant doctrine. But its intellectual victory has blinded us to the great appeal – and frequent success – of mercantilist practices. In fact, mercantilism remains alive and well, and its continuing conflict with liberalism is likely to be a major force shaping the future of the global economy.
Today, mercantilism is typically dismissed as an archaic and blatantly erroneous set of ideas about economic policy. And, in their heyday, mercantilists certainly did defend some very odd notions, chief among which was the view that national policy ought to be guided by the accumulation of precious metals – gold and silver.
Secret structures, hidden crimes
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- Written by Alex Marriage, Eurodad
- Category: Analysis
The new Eurodad report “Secret structures, hidden crimes” finds that the hidden ownership of companies and other legal structures facilitates tax evasion, corruption and related crimes. It outlines the different ways that individuals abuse companies, trusts and other vehicles in order to evade taxes.
It argues that better information about who owns and controls these companies and other set-ups is key to bringing trillions of dollars of offshore wealth back into the tax net and helping to prevent capital flight in the future.
US: Tax avoidance on the Rise - Twice the amount of Social Security and Medicare
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- Written by Paul Buchheit
- Category: Analysis
Three trillion dollars a year. That's how much the wealthiest Americans avoid through the system of subsidies and schemes and sweet deals that deprive middle-class workers of their earned benefits. That's three times more than the deficit. That's enough for a full-time job for every middle-class household in America. Here are the distressing details:
1. Tax Expenditures: $1.25 trillion
These subsidies from special deductions, exemptions, exclusions, credits, capital gains, and loopholes are estimated to be worth 7.4% of the GDP, or about $1.1 trillion. They largely benefit the richest taxpayers. Business subsidies bring the total to $1.25 trillion.
That alone is almost enough to pay for Social Security ($884 billion) and Medicare ($524 billion).
But there's so much more.
Read more: US: Tax avoidance on the Rise - Twice the amount of Social Security and Medicare
The Welfare State, 1942-2013, obituary
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- Written by Aditya Chakrabortty/ The Guardian
- Category: Analysis
After decades of public illness, Beveridge's most famous offspring has died
(The Guardian, Tuesday 8 January 2013)
For much of its short but celebrated life, the Welfare State was cherished by Britons. Instant public affection greeted its birth and even as it passed away peacefully yesterday morning, government ministers swore they would do all they could to keep it alive.
The Welfare State's huge appeal lay in its combination of simplicity and assurance. A safety net to catch those fallen on hard times, come rain or shine, boom or bust, it would be there for all those who had paid in.
Global Income Inequality by the Numbers: in History and Now
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- Written by Branco Milanovic
- Category: Analysis
Who are the winners and losers of the recent globalization?
Are we witnessing the first decline in global income inequality since the Industrial Revolution?
Read Milanovic's most recent contribution
Growth Forecast Errors and Fiscal Multipliers
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- Written by IMF O. Blanchard
- Category: Analysis
On why the IMF was so wrong about Greece ... and admits it ... 'fiscal consolidation has been associated with lower growth than expected'
Detailed final 2011 aid figures released by OECD/DAC
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- Written by OECD
- Category: Documents
Doha Delays put People and the Planet at Risk
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- Written by ITUC
- Category: Analysis
The crucial boost to deliver green and decent jobs will have to wait is the message governments are sending to the worlds working people today, as they close the climate change conference in Doha, Qatar.
Sharan Burrow, General Secretary, ITUC, said despite weak expectations for this conference, the labour movement was convinced that recent scientific reports and the urgent need to transform economies could speed up the pace of negotiations.
Development Finance- Where does it come from?
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- Written by Jesse Griffiths / Europdad
- Category: Analysis
Our review of all different sources of development finance is nearly complete – look out for that in the new year – but I thought I’d whet your appetite with a summary table.
Using the most reliable sources we can find, here’s a summary of different inflows, outflows and domestic resources for developing countries as a group, given as an equivalent percentage of GDP to allow scale comparisons. I’ve also include figures for low-income countries (LICs) as a group, when they are available. Detailed questions will all be answered when the paper is published – watch this space early in the new year!
Illicit Financial Flows from Developing Countries
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- Written by Dev Kar and Sarah Freitas
- Category: Documents
This is Global Financial Integrity's third update of the original report.
Developing countries have lost 859 billion US$ in illicit outflows in 2010, which is an increase of 11 % over 2009. It is a consequence of crime, corruption, tax evasion and other illicit activities.
What Billions In Illicit And Licit Capital Flight Means For The People Of Zambia
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- Written by Sarah Freitas
- Category: Analysis
Our research finds that $8.8 billion left Zambia in illicit financial flows between 2001 and 2010. Of that, $4.9 billion can be attributed to trade misinvoicing, which is a type of trade fraud used by commercial importers and exporters around the world.
Read more: What Billions In Illicit And Licit Capital Flight Means For The People Of Zambia
