Main Articles:

Tax Reform and Simplification by D.R. Myddelton
Tax and the Division of Labour by Terry Arthur
Employment Taxes: where are we going? by John Whiting
The Illusory Tax Base: Why taxes on capital are counterproductive by Barry Bracewell-Milnes
Tax Competition by John Chown

Other Articles:

Political process and the formation of economic policy by Robin Johnson
Is the transition to the market too important to be left to the market? by Peter J. Boettke and Peter T. Leeson
Who Benefits from public education expenditures by Ayesha Yaqub
Could deflation be ideal? By Andrew Lilico
What will happen to the Euro? By Bernard Connolly and John Whittaker

Columns:

Resolving conflicts of interest in the financial system by Tim Congdon
Private Schools for the poor: an update by James Tooley
Trade and technology progress go hand in hand by Julian Morris
The European Union’s confused position on GM food by Roger Bate

Book reviews:

Hans L. Eicholz
Elaine Sternberg
John Chown
D.R. Myddelton