So it seems that a good chunk of the GOP/Trump tax cuts will go to buybacks, and to fuel the bubble in the stock market, according to Robin Wigglesworth in the FT (subscription required). Bad news for those that think that higher earnings lead to higher investment (meaning gross formation of capital). My impression is that if you want tax cuts to be stimulative, you should target consumption, in particular for lower income groups, which tend to spend a higher proportion of their income.
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What to expect from the incoming government in Argentina
The government in Argentina has less than two weeks at this point. It is too early to pass judgment. But we can look at the legacy of the M...
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So besides the coup in Brazil (which was all but confirmed by the last revelations , if you had any doubts), and the electoral victory of M...
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Fields, David (Forthcoming), “Classical Dichotomy,” Edward Elgar Encyclopedia on Central Banking , edited by L.P. Rochon et...
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Modern Monetary Theory (MMT) has been in the news again, and for good reasons. I actually had a post with the same title back in Februa...
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