More in Global Economy


3 years

The Commuter Parking Tax Break

Many employers provide parking to employees who commute to work, which can be viewed as an untaxed fringe benefit of their jobs. The value of this benefit depends on where the parking is located. If the employer is in a uncongested suburban or rural area, where parking is generally free for everyone, then the value of this fringe benefit is low. But if the employer is in the part of an urban area with traffic congestion and where parking usually has a monetary price, then the value of this benefit can be higher.

3 years

OPEC’s Dilemma

The fundamental problem of the last OPEC meeting is the evidence of the division between two groups. One, led by Iran, which wants higher prices and deeper cuts, and the two largest producers, Saudi Arabia and Russia, who support a more diplomatic position. 

3 years

Analogies for America: Beyond the Melting Pot

Melting pot or salad bowl? For decades now, these two contestants have been slugging it out in the contest for most appropriate metaphor for how the cultures and ethnicities of America fit together. But my preference is to think of America as chocolate fondue.

3 years

US Dollar Strength: Causes and Opportunities

Catching a falling knife is never a good idea. A strong dollar (USD), moderation of GDP and earnings growth estimates are happening at the same time as global economies continue to increase fiscal and trade imbalances.

3 years

Edmund Burke on the Six Reasons Why Americans Love Liberty

The British statesman and philosopher Edmund Burke gave a "Speech on Conciliation with the Colonies" on March 25, 1775. He sought to explain why those pesky Americans were so strident and obsessive about their love of freedom and liberty. He said:

3 years

Should Governments Tax Unhealthy Foods and Drinks?

With obesity and diabetes at record levels, many public health experts believe governments should tax soda, sweets, junk food, and other unhealthy foods and drinks. Denmark, Finland, France, Hungary, and Mexico have such taxes. So do Berkeley, California and the Navajo Nation. Celebrity chef Jamie Oliver waged a high-profile campaign leading to Britain's Sugar Tax 2018, and the Washington Post has endorsed the same for the United States.

3 years

Black-White Income and Wealth Gaps

Black-white gaps in income and in wealth have been fearsomely persistent over time. Here, I'll mention some main themes from two studies, one focused on income differentials and one on wealth differentials.