The 20th century’s international order, which installed the United States, Europe and Japan in dominant positions, is ending. New powers are emerging to challenge a system arranged within the framework of U.S. and European multilateralism. Transitional processes necessarily breed chaos and uncertainty. This is the global situation to which our economies and political systems must adapt.
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Looking for the best tax code
Ballooning modern governments collect an increasing proportion of their countries’ output in taxes, which spreads inefficiency and economic stagnation. The drivers of this process can be neutralized, and the economy-distorting impact of taxation mitigated, with better tax-system design. Among OECD member states, there are examples of sound solutions to emulate.