Fiscal policy

2018: The end of financial history?

On the eve of the collapse of the Soviet Union, Francis Fukuyama wrote his famous essay “The End of History?*”, where he argued that the seemingly unstoppable spread of liberal democracy was signaling the endpoint of history whilst understanding the latter as an evolutionary process of a socio-cultural nature. A parallel can be drawn between … Continued

Border-Adjustment Tax, system repair or hidden subsidy?

The failure in repealing ObamaCare has increased pressure on Trump to deliver on his fiscal plan. Since savings in healthcare will not decrease the baseline, and other funding cuts have been redeployed into defense spending, the Border-Adjustment Tax (BAT) emerges as the only source for financing the promised tax cuts to corporations and individuals. House … Continued