Why tax systems are trickier than Martian algebra

Only radical restructuring has a chance of creating fair taxation, writes Tim Harford

The latest from FT blogs

The Federal Reserve will not change its stance while there remains no impetus
– Gavyn Davies
Sanctions need to be severe, including barring it from G8 and G20 meetings and not allowing to hold the 2018 football World Cup
– Ivo Daalder
The country’s weakness – its lopsided, primitive economy – is also proving its strength
– Alan Beattie

EU’s ‘covered bond’ decline is no loss

Regulators want switch to asset-backed securities for bank funding

Murdoch’s bid for Time Warner threatens TV quality

The fact that once-dominant cable companies face new online and digital competition is good

China’s hunt for tigers is bound to fail

The anti-corruption campaign appears to have taken on the characteristics of a Maoist purge

France needs support to scrap a bad deal

Outrage at Moscow’s conduct should be translated into a compelling case, writes François Heisbourg

Anti-capitalists take too much for granted

India’s ‘untouchables’ are being emancipated by economic growth, writes Devesh Kapur

FT Editorial

Welcome to the Braveheart Games

The very idea of using the event to further the cause of independence would be plain unsporting

Hamas finds Arab outrage diluted

Palestinian cause has receded as a priority in the wider region

Gowex affair raises ghost of German defeat

Troubles at Spain’s MAB mirror those of Frankfurt’s Neuer Markt

The big test: what happens when rates rise

Prospect of UK increase has done little to hurt stocks so far

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