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From the Editor

Down but Not Out

Back to Basics

Taxes in Practice

Ruud De Mooij and Michael Keen
It is hard to design a fair and efficient revenue system

People in Economics

Finder of Financial Fault Lines

Laura Wallace profiles Raghuram Rajan, the prescient finance economist now steering India’s central bank

webcast Rajan predicts crisis

Currency Notes

Norway: Design, Democracy, and Daring

Christopher Coakley
In this new series, F&D takes a look at the stories behind money around the world­

webcast 11 fascinating bills

Book Reviews

Market Madness: A Century of Oil Panics, Crises, and Crashes, Blake C. Clayton

Climate Shock: The Economic Consequences of a Hotter Planet, Gernot Wagner and Martin L. Weitzman

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F&D welcomes comments and brief letters, a selection of which are posted under Letters to the Editor. Letters may be edited. Please send your letters to fanddletters@imf.org


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