Op-Eds & Articles


Toward a Progressive Tax Policy

Author: Peter R. Orszag

To address economic inequality in the United States, Peter R. Orszag writes that a progressive consumption tax and an inheritance tax would be more practical than Thomas Piketty's wealth tax.

See more in United States; Tax Policy


Beijing’s Actions in the South China Sea Demand a U.S. Response

Authors: Elizabeth C. Economy and Michael A. Levi
Washington Post
The China National Overseas Oil Coorporation (CNOOC) began drilling in Vietnamese-claimed waters late last week, accompanied by more than seventy vessels, including armed Chinese warships. Elizabeth Economy and Michael Levi write that the United States needs to face up to the full magnitude of the Chinese challenge to have any hope of successfully confronting it.

See more in China; Vietnam; Territorial Disputes; Oil


What Europe Can Learn From the U.S. Bank Crisis

Authors: Benn Steil and Dinah Walker
Wall Street Journal

Benn Steil's latest op-ed in the Wall Street Journal, co-authored with Dinah Walker, explains why the ECB's anticipated foray into more aggressive monetary stimulus next week won't have any significant effect on the availability and cost of private-sector credit. The ECB believes that its ongoing bank stress tests will help revive the eurozone's moribund banking industry, but they argue that the tests are counterproductive without a mechanism in place to assure sufficient recapitalization of banks that fall short—as there was in the United States in 2009.

See more in Europe; Banks and Banking