On today's show: "From the CIA World Factbook"
Note to student readers: In the event that you have not used the CIA World Factbook to do basic background research for your international business, international studies, political science, economics, and other term papers, please check it out to see what you've been missing.
Not only will your term papers be filled with up-to-date facts, but you might do better if you ever go on Jeopardy!
The Putin Tax Club for Growth Yahoos should read this:
“Russia ended 2003 with its fifth straight year of growth, averaging 6.5% annually since the financial crisis of 1998. Although high oil prices and a relatively cheap ruble are important drivers of this economic rebound, since 2000 investment and consumer-driven demand have played a noticeably increasing role…In addition, a string of investigations launched against a major Russian oil company, culminating with the arrest of its CEO in the fall of 2003, have raised concerns by some observers that President PUTIN is granting more influence to forces within his government that desire to reassert state control over the economy.”
No, it is not a revival of low tax laissez-faire that is leading to decent growth after all.