In the new issue of Regulation, economist Pierre Lemieux argues that the recent oil price decline is at least partly the result of increased supply from the extraction of shale oil. The increased supply allows the economy to produce more goods, which benefits some people, if not all of them. Thus, contrary to some commentary in the press, cheaper oil prices cannot harm the economy as a whole.
Two long wars, chronic deficits, the financial crisis, the costly drug war, the growth of executive power under Presidents Bush and Obama, and the revelations about NSA abuses, have given rise to a growing libertarian movement in our country – with a greater focus on individual liberty and less government power. David Boaz’s newly released The Libertarian Mind is a comprehensive guide to the history, philosophy, and growth of the libertarian movement, with incisive analyses of today’s most pressing issues and policies.
Featuring Adam Lerrick, Gailliot Center for Public Policy, Carnegie Mellon University; Michael Hadjimichael, International Monetary Fund; Ian Vásquez, Cato Institute.
The World Bank and the International Monetary Fund have identified 41 poor countries whose debt burdens have grown too onerous to pay back. The lending agencies have begun reducing the debt of some of those countries and are asking rich nations to provide additional funds to the $28 billion initiative. Michael Hadjimichael will explain how the plan will help get countries on the path to self-sustaining growth and how it will assure that new funds are spent wisely. Adam Lerrick will question whether the initiative goes far enough and will explain why the lending agencies have plenty of their own resources to pay for debt they cannot collect. Ian Vásquez will explain why he favors debt relief but not the IMF and World Bank initiative.