The effective corporate income tax rate is almost exactly the same in the United States as in other OECD countries. (While the U.S. statutory corporate tax rate is well above the OECD average, the many loopholes in the U.S. corporate tax bring the effective rate down substantially.) Then how is it that corporate taxes account for a much smaller share of GDP in the United States than in other high-income countries?
Many nations and corporations strive to raise female membership in
decision-making bodies. This column discusses new experimental evidence
suggesting that there is more lying (and more extreme lying) in male groups and
mixed-gender groups than in female groups. Moreover, group decision-making
exacerbates men’s tendency to lie while the opposite is true for women. This
suggests that the gender composition of decision-making bodies is important when
the goal is to limit the scope of unethical behaviour.
The Japanese economy has been on a recovery track since mid-2012, due in part to Abenomics. Although the economy has slowed recently, it is expected to turn upward again, thanks to additional fiscal and economic measures, high stock prices coupled with the weak yen, and the low price of oil.
Ensuring that the workers of today and tomorrow can capture the benefits of
the information age will require us to redesign our economic system. Only by
finding ways to put true value on the goods we produce can we sustain a
middle-class society, rather than one of techno-plutocrats and their
For the past six years, Barack Obama's administration has, more often than
not, sided with the interests of big banks on financial-sector policy. But this
week, announcing a new proposal to prevent conflicts of interest in financial
advising, Obama seemed to turn an important corner.