An American company that wears a crown and makes French fries wants to put its tax mailbox in Canada. Welcome to the global economy. Over at PostEverything.
Actually, this particular inversion carries an important lesson: the countries that understand the above–the pressures that globalization puts on domestic economies–and take steps to dampen the harm and amplify the good, will have much better economic outcomes than those like us that so far resist this lesson.
I’ll be switching to McDonalds. No more Whoppers for me.
Krugman reacts to one of your posts:
http://krugman.blogs.nytimes.com/2014/08/25/yellen-wages-and-intellectual-honesty/
JB writes: “What’s striking here — though it shouldn’t be surprising at all — is that the Canadian government has no compunction about making and enforcing rules they deem to be in the nation’s — not necessarily the nation’s firms or their shareholders — best interest.”
From an ideological standpoint, I am totally against central planning. But from a practical standpoint, finding people to make decisions in the country’s best interest—–not their own—is frankly impossible. This is not tin foil hat stuff from a far right Austrian website:
Al Franken talking about the FCC, an agency tasked with making decisions in our country’s best interests:“I don’t like this revolving door,” Franken said in an April 13 interview with CNN. “I don’t like this revolving door between regulators and Comcast. I thought that was kind of tacky that one of the FCC commissioners, I think just four months after they approved the Comcast/NBC deal, went over to work a high-paying job at Comcast. I just don’t like that.”