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This new annual publication offers highly innovative articles by recognized national experts on contemporary economic and public policy issues. The pieces in this inaugural edition reveal in-depth, original research on the General Motors bailout, whether or not patents spur more productive activity, how the cost of incarceration can be reduced, and a comparison between the Great Depression and the recent recession.
"A truly excellent book that explains where our pandemic response went wrong, and how we can understand those failings using the tools of economics." —Tyler Cowen, Holbert L. Harris Chair of Economics at George Mason University and coauthor of the blog Marginal Revolution Have you ever stopped to wonder why hand sanitizer was missing from your pharmacy for months after the COVID-19 pandemic hit? Why some employers and employees were arguing over workers being re-hired during the first COVID-19 lockdown? Why passenger airlines were able to get their own ring-fenced bailout from Congress? Economics in One Virus answers all these pandemic-related questions and many more, drawing on the dramatic events of 2020 to bring to life some of the most important principles of economic thought. Packed with supporting data and the best new academic evidence, those uninitiated in economics will be given a crash-course in the subject through the applied case-study of the COVID-19 pandemic, to help explain everything from why the U.S. was underprepared for the pandemic to how economists go about valuing the lives saved from lockdowns. After digesting this highly readable, fast-paced, and provocative virus-themed economic tour, readers will be able to make much better sense of the events that they've lived through. Perhaps more importantly, the insights on everything from the role of the price mechanism to trade and specialization will grant even those wholly new to economics the skills to think like an economist in their own lives and when evaluating the choices of their political leaders.
"From healthcare to workplace conduct, the federal government is taking on ever more responsibility for managing our lives. At the same time, Americans have never been more disaffected with Washington, seeing it as an intrusive, incompetent, wasteful giant. The most alarming consequence of ineffective policies, in addition to unrealized social goals, is the growing threat to the government's democratic legitimacy. Understanding why government fails so often--and how it might become more effective--is an urgent responsibility of citizenship. In this book, lawyer and political scientist Peter Schuck provides a wide range of examples and an enormous body of evidence to explain why so many domestic policies go awry--and how to right the foundering ship of state.Schuck argues that Washington's failures are due not to episodic problems or partisan bickering, but rather to deep structural flaws that undermine every administration, Democratic and Republican. These recurrent weaknesses include unrealistic goals, perverse incentives, poor and distorted information, systemic irrationality, rigidity and lack of credibility, a mediocre bureaucracy, powerful and inescapable markets, and the inherent limits of law. To counteract each of these problems, Schuck proposes numerous achievable reforms, from avoiding moral hazard in student loan, mortgage, and other subsidy programs, to empowering consumers of public services, simplifying programs and testing them for cost-effectiveness, and increasing the use of "big data." The book also examines successful policies--including the G.I. Bill, the Voting Rights Act, the Earned Income Tax Credit, and airline deregulation--to highlight the factors that made them work.An urgent call for reform, Why Government Fails So Often is essential reading for anyone curious about why government is in such disrepute and how it can do better"--
Science can be a force for good, and it has enhanced our lives in countless ways, but even a cursory look at the last century shows that what passes for "science" can be detrimental. This book documents only some of the more recent abuses of science that informed members of the public should be aware of.
The Inclusive Economy: How to Bring Wealth to America’s Poor energetically challenges the conventional wisdom of both the right and the left that underlies much of the contemporary debate over poverty and welfare policy. Author and national public policy expert Michael Tanner takes to task conservative critiques of a “culture of poverty” for their failure to account for the structural circumstances in which the poor live. In addition, he criticizes liberal calls for fighting poverty primarily through greater redistribution of wealth and new government programs. Rather than engaging in yet another debate over which government programs should be increased or decreased by billions of dollars, Tanner calls for an end to policies that have continued to push people into poverty. Combining social justice with limited government, his plan includes reforming the criminal justice system and curtailing the War on Drugs, bringing down the cost of housing, reforming education to give more control and choice to parents, and making it easier to bank, save, borrow, and invest. The comprehensive evidence provided in The Inclusive Economy is overwhelming: economic growth lifts more people out of poverty than any achievable amount of redistribution does. As Tanner notes, “we need a new debate, one that moves beyond our current approach to fighting poverty to focus on what works rather than on noble sentiments or good intentions.” The Inclusive Economy is a major step forward in that debate.
Offers policy recommendations from Cato Institute experts on every major policy issue. Providing both in-depth analysis and concrete recommendations, the Handbook is an invaluable resource for policymakers and anyone else interested in securing liberty through limited government.
With capitalism in crisis - rising inequality, unsustainable resource depletion and climate change all demanding a new economic model - the Social and Solidarity Economy (SSE) has been suggested as an alternative. What can contribute in terms of generating livelihoods that provide a dignified life, meeting of social needs and building of sustainable futures? What can activists in both the global North and South learn from each other? In this volume academics from a range of disciplines and from a number of European and Latin American countries come together to question what it means to have a 'sustainable society' and to ask what role these alternative economies can play in developing convivial, humane and resilient societies, raising some challenging questions for policy-makers and citizens alike.
The inaugural issue of Cato Papers on Public Policy—a new annual volume of articles on significant economic and public policy issues—provides in-depth, imaginative new research on key economic and public policy matters. This research is specifically focused on filling a gap in the vast range of work that currently addresses the pros and cons of government policies. The Cato Papers on Public Policy evaluates economic and social policies using the techniques of modern economics and real-world experience. As a result, the articles are firmly focused on what policies are beneficial for the economy and society, and illuminate each subject's problems, challenges, impact, and solutions. The articles are written by leading national experts and are edited by Jeffrey A. Miron, a Senior Fellow at the Cato Institute and Director of Undergraduate Studies in the Department of Economics at Harvard University.
The new edition of this annual publication offers highly innovative articles by recognized national experts on contemporary economic and public policy issues. The pieces selected for publication in this year's issue reveal in-depth, original research on gold pricing during the Depression, the Federal Reserve's program for managing pressures on short-term funding markets, executive compensation, and the impact of shifts in punishment policy on prison incarceration rates.