South Africa’s Economic Crisis

South Africa’s Economic Crisis

The Promise of 1994 On 27 April 1994, millions of South Africans participated in the country’s first election based on universal adult suffrage. The queues stretched for miles. Some people waited most of the day to cast a vote that apartheid had denied them throughout...
How Rome Destroyed Its Own Economy

How Rome Destroyed Its Own Economy

Rome did not collapse because one thing went wrong. That is what makes its story so unsettling. The Roman Empire was not a fragile state waiting for one bad emperor, one barbarian invasion, or one financial mistake to bring it down. It was one of the most durable...
The Greek Debt Crisis

The Greek Debt Crisis

Greece did not wake up one morning and suddenly discover it was bankrupt. For years, the country had been living inside an economic illusion. It had the spending habits of a state that could borrow cheaply, the institutions of a state that struggled to collect taxes,...
The Wealth Tax Problem

The Wealth Tax Problem

The easiest tax policy to understand is also one of the hardest to execute. Tax the rich. It sounds obvious. Billionaires own more wealth than entire cities, states, and sometimes small countries. Their fortunes rise with asset prices. Their lifestyles are funded by...