Nations are competing to see who can offer the lowest tax rates to corporations. We try to give some context to the question of how much tax corporations should pay.
Accounting deals with information asymmetry by imposing accounting constraints, auditing a company's accounts, and when that fails, trying to align the incentives of the managers with the interests of the shareholders. Great fun ensues.
Grades sort students into categories. We come to know ourselves through the grades we are given, and we carry those grades through life, whether we want to or not.
