Some 82 per cent of adult citizens in the U.K. will waste as much as £7.9 billion (about U.S. $15.2 billion) by paying unnecessary and avoidable taxes in 2007, according to a survey by an independent financial advisory website.
According to the authors of the report:
Some 62 per cent of
Europeans once thought they had a better way a “third way” between socialism and capitalism that would deliver both income equality and economic growth. But in reality, the third way delivers neither and now Europe faces a massive, long-term problem of catching up to the United States,
The U.S. economy can grow at the 3.5 per cent average of the past several decades, with low and stable inflation. Recent monetary policy has been about right, and it is being helped in the fight against inflation by globalisation, productivity gains and other factors, says Robert McTeer, a distinguished
Moscow’s attachment to statist economic policy is undermining its bid for global energy dominance, says Leon Aron, resident scholar at the American Enterprise Institute.
By re-nationalising its energy sector, Russia is slaying its largest golden goose, says Aron:
Between 1999 and 2004, young tycoons invested over $36 billion, or 88 per
The rags-to-riches story of how Iceland’s 300,000 citizens became some of the world’s wealthiest people is a testament to capitalism’s animal spirits. Only after it opened up the economy, privatised state companies and slashed marginal taxes did this once famine-plagued island become a Nordic Tiger, says the Wall Street Journal.
Happily,
