The European Union (EU) has announced plans to levy a tax on airline emissions for all planes landing and taking off from EU airports. This tax would be calculated not only based on mileage flown in EU airspace but also for the entire length of the flight (thus, Chinese and Japanese airlines would be taxed for an entire journey from Beijing or Tokyo).

Many people, observing the severe problems caused by Greece and other financially weak members of the European Union, wonder why the United States is not similarly afflicted. After all, the structures seem quite similar; the EU is united through a treaty into a single political grouping, while the U.S. is a union of states in a constitutional system. 

With Europe collapsing, China stumbling, and India and Brazil retreating from full free market reform, we’re the last stable, pro-growth economy left.  

On May 6, all eyes will be focused on the second round of the French presidential election, which Socialist challenger Francois Hollande is likely to win. Equally important for Europe’s future is the Greek parliamentary election scheduled for the very same day.

After five years of wrenching economic recession, one has to wonder what it will take for Greece to cut itself loose from the failed IMF and EU policies that have reduced the country to its present terrible economic pass.

Alexander Hamilton asserted 'the imbecility' of the United States under the Articles of Confederation. There are lessons for Europe today.

Portugal could avoid Greece's horrible fate if it were to draw the right lessons from the Greek experience.

Developed economies are implementing massive fiscal stimulus packages, but fiscal multipliers are not certain, financing budget deficits will not be easy, the risk of default looms, and central bank independence may be eroded.