Milken Institute Review First Quarter 2017
Eric Toder leads readers down the tortuous path of business tax reform, made even more circuitous by the rapid growth of enterprises that pass through their taxable income to individuals. Brad Delong offers a spirited defense of "helicopter money," the as-yet-unused stimulus tool that's widely viewed as too good to be true. Jerry Taylor explains why the time has come for a carbon tax to slow climate change – and why even Republicans who have listened to the siren song of the climate change deniers should rethink their position. Eswar Prasad offers a nuts-and-bolts primer on how China is using trade and investment to project power worldwide. Maureen Japha outlines ways to smooth the speed bumps as "venture philanthropies" make deals with medical researchers unused to sharing control. Andreas Bergh cautions policy wonks eager to imitate Sweden's social and economic policies. Tom Healey offers an insider's view of the battle to contain the ballooning employee benefits of states and localities. Philip Martin analyzes the impact of the growing scarcity of cheap water and labor in transforming California agriculture.