Several months ago, I wrote a rather wonky post explaining that the western world became rich in large part because of jurisdictional competition. Citing historians, philosophers, economists, and other great thinkers, I explained that the rivalry made possible by decentralization and diversity played a big role in both economic and political liberalization. In other words, […]
read more...I’m not talking about secession in the United States, where the issue is linked to the ugliness of slavery (though at least Walter Williams can write about the issue without the risk of being accused of closet racism). But what about Europe? I have a hard time understanding why nations on the other side of […]
read more...I periodically mock the crazy statists of California. The state is almost surely doomed to suffer a Greek-style fiscal chaos. The only unknown is whether Illinois will beat the Golden State into default. The politicians in Sacramento impose very high taxes to fund a bloated bureaucracy that oversees a bunch of politically correct nonsense. But […]
read more...Since I’m probably the foremost defender of tax havens in the United States, I tend to get a lot of press inquiries whenever something happens that brings attention to these low-tax jurisdictions. In recent months, almost all of the media calls have been because (gasp!) Mitt Romney engaged in sound business practices and used tax […]
read more...During the dark ages, nations like China were relatively advanced while Europeans were living in squalid huts. But that began to change several hundred years ago. Europe experienced the enlightenment and industrial revolution while the empires of Asia languished. What accounts for this dramatic shift? I’m not going to pretend there’s a single explanation, but […]
read more...If we want to avoid the kind of Greek-style fiscal collapse implied by this BIS and OECD data, we need some external force to limit the tendency of politicians to over-tax and over-spend. That’s why I’m a big advocate of tax competition, fiscal sovereignty, and financial privacy (read Pierre Bessard and Allister Heath to understand […]
read more...Montgomery County in Maryland is not exactly a hotbed of free market thinking or a bastion of limited government. It’s one of the richest counties in the nation, but not because of entrepreneurship and wealth creation. Instead, it’s a bedroom community for over-paid bureaucrats, corrupt lobbyists, fat-cat contractors, and other ne’er-do-wells who commute into Washington […]
read more...Back in April, responding to an article written by Ann Hollingshead for the Task Force on Financial Integrity and Economic Development, I wrote a long post defending so-called tax havens. I went through the trouble of a point-by-point response because her article was quite reasonable and focused on some key moral and philosophical issues (rather […]
read more...I sometimes make fun of the English, for reasons ranging from asinine laws to milquetoast politicians to horrid healthcare policy. But at least some U.K. elected officials are willing to stand up for tax competition and fiscal sovereignty by defending low-tax jurisdictions. In previous posts, I’ve applauded Dan Hannan and Godfrey Bloom for great speeches […]
read more...I’ve joked on many occasions that bipartisanship occurs in Washington when the evil party and the stupid party come up with an idea that is simultaneously malicious and misguided. The international version of two-wrongs-don’t-make-a-right occurs whenever the French and the Germans conspire on economic policy. The latest example is a joint proposal for “economic governance” […]
read more...