by Sean Higgins. Legislation to tax Internet sales is dead for the year, a key Senate aide said. No bill allowing the taxation will be taken up before Congress' lame-duck session ends, meaning that purchases made through online merchants such as Amazon will continue to be tax-free for the foreseeable future. A coalition made up of state and ... MORE
by Tim Worstall. The last few days have seen us regaled with a serious of stories about how the world is going to run out of chocolate. That would be, I think we can all agree, almost as bad as running out of bacon. So it’s worth thinking through the reasons as to why we might be running out. After all, cocoa, from which chocolate is made, is a plant, ... MORE
The ones who make our lives better. When I tell people that I teach business ethics, I am often told that it is an oxymoron because business cannot be moral. That view is common, thanks to the wide acceptance of altruism as a moral code. The view is also mistaken, and we should be concerned because such a view hampers the ability ... MORE
A subtle and sophisticated understanding. M&A (mergers and acquisitions) is on fire again, and according to a new study from professors at the Stern School of Business at NYU and McGill University, so is insider trading. The study says that up to a quarter of all M&A deals may foster some level of insider trading. As insider trading is clearly ... MORE
Don't take your eye off the ball. I have resisted writing about the perceived problem of inequality in income and wealth; Thomas Piketty’s book, Capital in the 21st Century, has received too much unjustified attention already. But I gave in because I think what I have to add to the debate helps in rejecting Piketty’s argument that ... MORE
The basics of economic freedom. In a free-market economy, the forces of supply and demand are free of interference by a government, other authority or price-setting monopolies. In a controlled market or regulated market, a government intervenes in demand and supply through various non-market methods such as, laws that creates barriers ... MORE
Government smothers what it's supposed to promote. "I ran for office pledging to make our government leaner and smarter and more consumer friendly," President Barack Obama reminded a group of small businessmen at a January 2012 White House gathering. You can see why the audience needed a refresher course. The president's ... MORE
By Malena Castaldi and Felipe Llambias, Reuters. Uruguay became the first country to legalize the growing, sale and smoking of marijuana on Tuesday, a pioneering social experiment that will be closely watched by other nations debating drug liberalization. A government-sponsored bill approved by 16-13 votes in the Senate provides ... MORE
Black market site adds new security measures. Silk Road, the online drugs marketplace which was shut down by the FBI in October, has been resurrected by a group of the site’s former moderators and users. Dubbed Silk Road 2.0, the new site taunts the authorities from the start with a login page that features a pastiche of the FBI’s seizure. ... MORE
Two under-appreciated virtues. Dishonesty, lying and cheating are not treated with the right amount of opprobrium in today's society. To gain an appreciation for the significance of honesty and trust, consider what our day-to-day lives would be like if we couldn't trust anyone. When we purchase a bottle of 100 pills from our pharmacist, how many ... MORE