The IMF has finally departed from 40 years of orthodoxy on taxation and economic growth, but it’s unlikely to persuade anyone in the US governmentThe International Monetary Fund has been on fairly a journey from the days when it was seen as the provisional wing of the Washington consensus. These days the IMF is less likely to harp on about the joys of liberalised capital flows than it is to warn of the dangers of ever-greater inequality.
The funds latest foray into the realms of progressive economics came final week when it used its half-yearly fiscal monitor – normally a dry-as-dust publication – to accomplish the case for higher taxes on the super-rich.
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Source: theguardian.com