Seven years ago, the US led an effort to address a problem facing governments everywhere. Each year, people manage to avoid paying an estimated $2.5 trillion in income tax — a giant sum that could be used to combat poverty, update infrastructure or lower tax rates for law-abiding citizens. Now, however, the US is becoming one of the world’s best ...

Monopoly power is a hot topic of economic debate. Economists are starting to ask whether increasing industrial concentration is choking off productivity growth, reducing capital investment, throttling or deterring would-be entrepreneurs, raising consumer prices, and reducing the share of national income flowing to workers. This is a good and important effort. But it’s also possible that with all the attention ...

Yields on 10-year US government bonds have risen 40 basis points since September, about as much as German 10-year Bunds yield in total. The more than 200 basis point difference between the two debt market bellwethers is increasingly difficult to justify. It’s the lack of yield in Europe that looks out of whack. Just like the US, growth is picking ...