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In the new IREF working paper “Taxing Artificial Intelligences”, Julian Arndts and Kalle Kappner analyse the fiscal implications of the presence of artificial-intelligence (AI) machines in the production processes.

After the incredible Republican presidential primaries opened the path to the surprising, to say the least, Donald Trump Presidency in 2016, today the Democracy Party is involved in a quite similar situation. While three years ago there were 17 candidates at the Republican primaries (5 of them withdrew just before the primaries), now the Democratic Party has reached 25 candidates. Of course, not all of them appear to have a real chance of winning the primaries. Still, according to the latest RealClearPolitics.com survey average, there are at least seven candidates with a percentage larger than 2%. They are Joe Biden, Vice President of the United States under the Obama Presidency; the “eternal” Bernie Sanders; the surging (according to the latest polls) California Senator Kamala Harris; the Massachusetts Senator Elizabeth Warren; the Mayor of South Bend Pete Buttigieg; the media beloved Beto O’Rourke; and, finally, the New Jersey Senator Cory Booker.

Facebook’s greatest recent challenge has been the fading of its brand. A veritable slew of newer social media platforms are cooler and more trendy than Fb, which now languishes in popular esteem as the social platform of choice for the out of touch greying generations, rather than youngsters.
Fb has 3.5 billion customers – half the world’s population. For these reasons, we think that its new currency Libra is interesting. In particular, it shines a light on continuing existential threat to the euro, which is only one of the presumably G7 currencies whose assets will back Libra. Will Libra succeed?

While all of the former socialist economies have liberalised and strengthened their markets over the past two decades, they have failed to strengthen the rule of law (see Table 1). Under socialism, legal systems are not designed to protect the rights of individuals. Instead, they serve the interests of the political elite. To that end, judges, prosecutors, and other judicial officials are trained and expected to cater to those interests. Most worrisome, some of the former socialist economies have even seen the weakening of the rule of law in the last few years.