Clemens Fuest and Axel Ockenfels for PS On Point: How to Tax Energy Companies' Windfall Profits

And in a new Big Question, Robert D. Kaplan, Dina Khapaeva, Mark Leonard, and Angela Stent consider whether the war in Ukraine could bring down Putin. [View this message in a web browser]( [PS On Point]( OCTOBER 7, 2022 Given the complexities of modern markets, economies, and legal regimes, new levies on energy companies will always run into implementation problems. To prevent supply shortages and other disastrous unintended consequences, policymakers must proceed with caution and coordinate across borders, write Ifo Institute President Clemens Fuest and the University of Cologne's Axel Ockenfels. [Read more](. [PS Longer Reads: How to Tax Energy Companies' Windfall Profits]( [How to Tax Energy Companies' Windfall Profits]( By Clemens Fuest and Axel Ockenfels Given the sharp increase in electricity prices across Europe this year, it is no surprise that politicians and policymakers are considering new measures to skim off corporate profits that are seen to be unjustified. But if such policies are not properly designed, they could do more harm than good. [Read more]( Don't miss our recent PS Big Question on windfall taxes, featuring John H. Cochrane, Daniel Litvin, Yanis Varoufakis, and Isabella M. Weber. [Read more](. [Secure your copy of PS Quarterly: Forsaken Futures. Subscribe to PS Premium now.]( [PS Big Question: Is Putin in Peril?]( [Is Putin in Peril?]( with Robert D. Kaplan, Dina Khapaeva, Mark Leonard, and Angela Stent From alternate-reality annexations to fresh nuclear threats, Russian President Vladimir Putin seems desperate to project an image of strength after a string of battlefield defeats. As Ukrainian forces advance on Russian-occupied territories and hundreds of thousands of draft-age Russian men flee the Kremlin’s “partial mobilization,” we asked PS commentators to assess his prospects. [Read more]( [PS Say More: An Interview with J. Bradford DeLong]( [J. Bradford DeLong on US inflation, redistribution, economic dogma, and more]( J. Bradford DeLong explains how the US Federal Reserve is undermining market and investor confidence, urges US Democrats to uphold supply-side progressivism, and proposes a straightforward approach to addressing the problems of distribution and utilization. DeLong is Professor of Economics at the University of California, Berkeley, and the author of [Slouching Towards Utopia: An Economic History of the Twentieth Century](. [Read more]( [PS Insider Interview: The Trade Agenda Today]( [The Trade Agenda Today]( Ngozi Okonjo-Iweala interviewed by Anne O. Krueger Neither the breakdown of multilateralism nor the rise of the digital economy has made international trade and its central governing body any less important. An open, transparent, rules-based trading system remains crucial for driving economic development and addressing global problems like climate change. [Read more]( [Subscribe to PS Digital now.]( [Facebook]( [Twitter]( [LinkedIn]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. Receipt of this newsletter does not guarantee rights to re-publish any of its content. This newsletter is a service of [Project Syndicate](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.