Economics in 1.5 Days

I recently attended an economics conference. I know you're dying to know how it went. Don't laugh. No one at the conference did.Are we headed for a double-dip recession, or even a Great Depression? How will the U.S. and most of the developed world face their debt problems? How bad is all that debt, and where will it lead? What exactly happened that caused our recent financial crisis, and how can we prevent such a thing in the future? As our lawmakers and political leaders craft new fiscal, monetary, and regulatory policies, what should they do?Good questions. Too bad they weren't answered at the conference I attended. Then again, economists are only human and must rely on data, mathematics, and the principles of sound statistical inference. Apparently, predicting the future is still a tricky enterprise.But they did what they could. Here, for example, are a few tidbits from their studies.The optimal tax rate for a flat (marginal) income tax is 19.5%. That tax would raise the same...(Read Full Article)