by Dan Mitchell | Nov 6, 2018 | Blogs, Economics
The theory of “economic convergence” is based on the notion that poor nations should grow faster than rich nations and eventually achieve the same level of development. This theory is quite reasonable, but I’ve pointed out that decent public policy (i.e., free markets...
by Dan Mitchell | Aug 23, 2018 | Blogs, Economics, Free Market
A key insight of international economics is that there should be “convergence” between rich countries and poor countries, which is just another way of saying that low-income nations – all other things being equal – should grow faster than high-income nations and...
by Dan Mitchell | Aug 5, 2017 | Blogs, Economics, Free Market
I’m a fan of the Baltic nations in part because they were among the first to adopt flat tax systems after the collapse of the Soviet empire. But tax reform was just the beginning. Estonia, Latvia, and Lithuania have liberalized across the board as part of their...
