This innovative book offers a critical perspective on the state of the current global economy, making sense of knowledge-related issues by critically assessing existing institutional choices, as well as pointing to new ways forward.

The lifetime capital gains exemption was introduced in 1985 with definite and relatively simple objectives. It was not, however, expected to simplify the income tax system. On the contrary, the introduction of the exemption was accompanied by many complex rules designed to implement it in a...