On September 26, 2010 – 92 years after the WWI officially ended – Germany made her last payment of $94 million in reparations “to private individuals, pension funds and corporations holding debenture bonds as agreed under the Treaty of Versailles.” As Keynes rightly predicted, the unreasonably high French demands for financial reparations led to German economic weakness. The end result was hyperinflation, which was one of the principal causes of Hitler’s rise to power and the start of the Second World War. In spite of losing two world wars, Germany did eventually become the most powerful nation in Europe – through trade, capitalism and German ingenuity.
Featuring Holly Bell, Associate Professor (Business), University of Alaska Anchorage; and Hester Peirce, Senior Research Fellow, Mercatus Center; moderated by Louise C. Bennetts, Associate Director, Financial Regulation Studies, Cato Institute.
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In this issue of Regulation, Jonathan H. Adler and Nathaniel Stewart make the case for property-based fishery management, utilizing territorial or catch-share allocation among fishery participants. Also in this issue, Michael L. Wachter explores the relationship between the much-maligned National Labor Relations Act and the decline in union membership.
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