They link their proposal to hypothetical EU debt issuance of 10 percent of EU GDP; the European Council recently adopted a borrowing plan of 5.4 percent of EU GDP.[8] Contrary to this recommendation, however, French Finance Minister Bruno Le Maire panned the idea of bringing back the French wealth tax that was abandoned in 2018.[9] Additionally, Norway (although not an EU country for purposes of the Landais et al. proposal) recognized the need to adjust its wealth tax during the… [read post]

(Laura Empson of Cass Business School gave a particularly nice presentation on this at lunchtime Thursday, positing that useful ways of thinking about partnership might be as analogous to The Three Musketeers, to Henry V's famous "band of brothers" speech before the Battle of Agincourt, to a buccaneer pirate ship, or, at last, to "Gone With the Wind. [read post]