Politicians have a genius for creating unintended consequences with each of their new firefighting measures. Just consider bank regulations. Today, reportage by Brooke Masters in the Financial Times informs us that the bill for new bank regulations in the EU could balloon to 50 billion euros. These regulations are intended to make banks “safe.” But, alas, they will suppress the money supply and economic activity. In consequence, new bank regulations, in the middle of an economic slump, promise to make banks less, not more, “safe” – a doom loop. Now is not the time to send in the Boy Scouts.
Featuring Rep. Scott Garrett (R-NJ), Chairman of the Congressional Constitution Caucus; Neal McCluskey, Associate Director, Center for Educational Freedom, Cato Institute; and Lindsey Burke, Will Skillman Fellow in Education, Heritage Foundation; moderated by Laura Odato, Director of Government Affairs, Cato Institute.
Featured PublicationWe are grateful to the Harry and Lynde Bradley Foundation and the Carthage Foundation whose support of the October 2012 Cato Conference “Europe’s Crisis and the Welfare State: Lessons for the United States” made possible this special issue of the Cato Journal.
Featured BookRenowned development economist Deepak Lal draws on 50 years of experience around the globe to describe developing-country realities and rectify misguided notions about economic progress.
More Bang for Your Buck
The Cato Institute tops a new measure of think tank performance in the United States, according to a recent report. Cato bested all other U.S. think tanks in the main category of “Aggregate Profile per Dollar Spent.” “I’m grateful to the Center for Global Development for showing that Cato gives its sponsors something I wish government gave more of to taxpayers: bang for the buck,” said Cato CEO John Allison.