Economics
Do Not Disturb the Profit Sharing Revolution
IPN Opinion article
"The loss suffered by Enron employees shows that ownership restrictions on pension plans should be reduced"
African food for thought
IPN Opinion article
Zambia\'s president would like to protect his nation from the \"poison\" of GM maize (Zambia slams door shut on GM relief food, October 30). Unfortunately, corpses don\'t talk, so we\'ll never know if the famine victims of Mwanawasa\'s irresponsible policy agreed with him. Some citizens voted with their feet by looting over 500 bags of GM grain from a shortage shed in Mumbwa.
Overhaul Aid to Boost Trade
IPN Opinion article
Certainly, the combined $70 billion or so in yearly farm subsidies from the U.S. and the EU choke off export markets and growth opportunities for mostly rural countries with little to send abroad other than cotton or coffee. But too much gets said about rich-country protectionism: trade barriers between poor countries themselves are more formidable and a greater deterrent to growth than that from the rich countries. (On average, tariffs are 13% in poor countries, 3% in the rich). "Just as charity begins at home, so exports begin with a good domestic policy," trade economist Jagdish Bhagwati wrote in the Economist recently. The EU, an example of a successful common market, has just started to help African countries set up their own customs unions. A good start, but more is needed.
The Case for International Tax Competition: A Carribbean Perspective
IPN Opinion article
One voice is missing in the tax competition/tax harmonization debate. That is the voice of the persecuted jurisdictions, especially the ones targeted by the Organization for Economic Cooperation and Development's proposal to eliminate so-called Harmful Tax Competition.1 This paper gives voice to the views of those jurisdictions negatively affected by the OECD's fiscal imperialism and discusses the moral, economic, and development implications of tax harmonization proposals such as "information exchange."
In Defence of Global Capitalism
IPN Opinion article
In Defence of Global Capitalism is a book that systematically challenges and refutes the assumptions of the anti-capitalist movement. With hard facts, statistics and simple graphs, Johan Norberg explains why capitalism is in the process of creating a better world. The book is also personally written, with an emphasis on values, and the fact that globalisation gives opportunities and freedom to the world's poor. The book illustrates this with concrete examples of people and countries that have prospered thanks to globalisation, and those that have suffered because of isolation.
Why Should the World Bank and the IMF be Closed Down?
IPN Opinion article
"The validity and legitimacy of our criticism [of the World Bank and IMF] should find its basis within the framework of testable arguments, not within normative structures of ideologies."
The invigorating effect of America's pink slips
IPN Opinion article
"Countries that envy the US ability to bounce back from economic setbacks should take note of its labour policies"
World Trade Organisation: Is Africa Left Out?
IPN Opinion article
\"As African delegates prepare to attend the Doha meeting they ought to recognize the fact that trade restrictions contribute to scarcity rather than abundance. This applies not only to poor countries but to the developed too. Restrictions make people poor. Free exchange of goods is good for both the wealthy and poor nations.\"
A Tiger Slumbers in Maine's Woods
IPN Opinion article
Shlaes argues that "is no excuse for the US state's economic stagnation. Its policymakers should take a leaf from Ireland's book"
The wealth of nations depends on how open they are to international trade
IPN Opinion article
Virginia Postrel elaborates on the benefits of trade: "By allowing nations, organizations and individuals to specialize in what they do best, trade makes more goods and services available to everyone, raising living standards for all. Open international trade has indirect advantages as well. By increasing competition, it spurs producers to find ways to reduce costs and, hence, prices to consumers -- again, increasing living standards. And it spreads knowledge and skill. People all over the world gain access to the best technologies and most productive business practices."
