Prince Michael of Liechtenstein

Statistics is a wonderful tool to support hypotheses. Data can be selectively arranged, given “weights” or cleverly suppressed depending on a desirable outcome. Of late, the case of excessive and rising inequality has become a mantra in economics, media, academia and politics. It is backed up with statistics and presented as one of the major […]

Under the Antideficiency Act of 1884, the federal government of the United States may incur obligations or make expenditures authorized by appropriations. When budgetary limits are exceeded, new funds can only be provided by an act of Congress. When no agreement on new appropriations is reached between Congress and the White House, the government must […]

The talks between Germany’s Christian Democrats (the CDU/CSU) and Social Democrats (the SPD) have ended in an agreement that will create a coalition of the biggest losers of last September’s federal elections. The parties’ rank-and-file members must still approve the deal. For Chancellor Angela Merkel and SPD leader Martin Schulz, the coalition is the only […]

Markets work efficiently when they are based on competition. Cartels are damaging, and rightly are not allowed, because they eliminate competition. A successful internal market needs regional and regulatory competition, something that some countries – mostly those with excessive cost structures – frown upon. They use the terms “race to the bottom” and “unfair competition” […]

At their meeting in Tallinn, Estonia, in mid-September, European Union Finance Ministers discussed new measures for taxing internet-based companies. They want to establish a system that could be brought to the Organisation for Economic Co-operation and Development (OECD), which would adapt these measures to global standards. Whew! Finally, wealthy companies like Google, Facebook and Apple […]