Soccer, Marginal Tax Rates and Game Theory

Republicans have called Democrats “socialist” for wanting to raise the top marginal tax rate. Imagine the epithet they would hurl if a new tax code threatened professional sports. The Spanish government has proposed reforming the “Beckham law”, named after the British star, that taxes foreign soccer players at a lower rate than domestic athletes. La … Continue reading

Yuan a bubble?

It’s everyone favorite time of the year: the Asia-Pacific Economic Cooperation Economic Leaders’ Meetin!* President Obama heads to the summit and his first official visit to China next week. Obama’s trip will be dominated by economic concerns especially trade, and in the case of China, exchange rates. Simon Johnston thinks Obama can convince the Chinese … Continue reading

The People’s Republic After 60

Dan Drezner links to himself* contemplating the future of China: I belong to the third camp—the one that believes that the Bubblers and the Extrapolators can both be right. My camp looks at China and sees the parallels with America’s rise to global economic greatness during the late 19th and early 20th centuries. From an … Continue reading

Sayonara, Mr. Yen

Before China kept its currency artificially devalued, Japan was the biggest advocate of a weak currency. Eisuke Sakakibara, Japan’s vice minister of finance for iternational affairs, was such a staunch proponent of a weak currency that he earned the nickname Mr. Yen. Japan’s export led growth was predicated on a weak yen, so its interesting … Continue reading

Sealing off from the world

Most people see this story, via Matt Yglesias and ask themselves “How on God’s green earth is this even relevant?” I read the same words and see the eventually downfall of the international economic system and the emergence of neo-mercantilism. Ok, so maybe I’m exaggerating just a little bit. The story of the seal tariff … Continue reading