Previous articles on the transfer problem pay scant attention to the problems caused by the distortionary taxation that extracts the gift from the donor nation or the cut in distortionary taxation that bestows the gift to the recipient nation. When combined with inflexibility in the real wage...

R. Ron Elmer is running for Treasurer of the State of North Carolina. He is aware that the high expenses and high turnover associated with active management of portfolios reduce returns. Part of Elmer's platform is to replace active management of stock mutual funds, private equity, real estate...