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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Inequality and Stagnation by Policy Design
By Thomas Palley (guest blogger) This paper argues the mainstream economics profession is threatened by theories of the financial crisis a...

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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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This was faster than even I expected (for my views on what Macri meant as soon as he was elected see this and for a more recent assessment...

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