Cato Journal - v41n1 - Cover

Winter 2021

Vol. 41 No. 1

Modern Monetary Theory Meets Greece and Chicago

By George S. Tavlas

During the fall of 2009, George Papandreou headed the ticket of the Panhellenic Socialist Movement, known by its acronym PASOK, against the then‐​governing conservative party, New Democracy, in the Greek national elections.

The Economic Impact of Tax Changes, 1920–1939

Estimates of the elasticity of taxable income (ETI) investigate how high‐​income taxpayers faced with changes in marginal tax rates respond in ways that reduce expected revenue from higher tax rates, or raise more than expected from lower tax rates.

Book Reviews