TWO out of three Greek workers either understate their earnings or fail to disclose them to the taxman altogether, according to Stephen Hall, an adviser to the Bank of Greece. Last year an estimated 24% of all economic activity in Greece went undeclared to evade tax and regulation, well above the European average of 19%.Continue reading “How taxation creates an under-the-table economy in Greece”
Category Archives: Americans’ Confidence in the Economy
Who controls the world’s wealth?
GLOBAL wealth has increased from $117 trillion in 2000 to $262 trillion this year. That comes to $56,000 for each adult on earth. But the fortune is far from evenly distributed. In 1906 the Italian economist Vilfredo Pareto observed that 80% of land was owned by just 20% of the Italian population. Today 94.5% ofContinue reading “Who controls the world’s wealth?”
Americans believe It will take generations to recover from the not so Great Recession
As they continue to struggle with the effects of the Great Recession, publics in advanced economies are pessimistic about the financial prospects for the next generation. Most of those surveyed in richer nations think children in their country will be worse off financially than their parents. In contrast, emerging and developing nations are more optimisticContinue reading “Americans believe It will take generations to recover from the not so Great Recession”
Americans are less optimistic about their children’s future than Asians
A DREAM has motivated humanity for as long as parents have dreamed: that whatever life brings, it will be better for the next generation. In the West secular economic decline and the aftermath of the global financial crisis have changed all that: according to a survey just published by the Pew Research Centre, 65% ofContinue reading “Americans are less optimistic about their children’s future than Asians”
Americans are less optimistic about their children's future than Asians
A DREAM has motivated humanity for as long as parents have dreamed: that whatever life brings, it will be better for the next generation. In the West secular economic decline and the aftermath of the global financial crisis have changed all that: according to a survey just published by the Pew Research Centre, 65% ofContinue reading “Americans are less optimistic about their children's future than Asians”
Technology helps some and hurts some
If there is a technological revolution in progress, rich economies could be forgiven for wishing it would go away. Workers in America, Europe and Japan have been through a difficult few decades. In the 1970s the blistering growth after the second world war vanished in both Europe and America. In the early 1990s Japan joinedContinue reading “Technology helps some and hurts some”