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In Europe a number of German states began experimenting with income taxes in the 1840s, but it was not until the Prussian reforms of 1891 that the income tax became an effective fiscal instrument in any of these states.
The White House says it embraces some sound principles for an effective fiscal boost — that they be temporary and timely, hitting the economy this year, while it is weak.
We should have forced the Greeks to establish effective fiscal and economic institutions long ago.
I agree that we need more effective fiscal and housing policies.
"The investment in climate change adaptation can serve as an effective fiscal stimulus," said Tae Yong Jung, another author.
A more effective fiscal policy would involve surpluses when growth is high, and borrowing only to finance public investment.
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