The UK tax system is incoherent. Even ignoring benefits styled as tax credits and the withdrawal of child benefit, taxpayers can face seven different marginal rates of personal tax.When allowing for the withdrawal of tax credits and child benefit, many families face very high effective marginal...

Chancellor Philip Hammond has been urged to increase government infrastructure spending to counteract any economic slowdown (demand management) and to improve the productive potential of the economy (supplyside reform). Yet the ‘Keynesian’ function of infrastructure spending ignores the...

What is the economic case for increasing the federal minimum wage?To even posit that question sounds odd. Proponents of a higher minimum wage claim that the policy change could alleviate all sorts of economic and social ills. But it's worth assessing, from first principles, the economic...