In Bootleggers & Baptists: How Economic Forces and Moral Persuasion Interact to Shape Regulatory Politics, economists Bruce Yandle and Adam Smith explain how money and morality are often combined in politics to produce arbitrary regulations benefiting cronies, while constraining productive economic activities by the general public.
How is it that in a world where thousands of people regulated financial markets the whole system crashed? And should we now give more power to central banks, government agencies, politicians, and regulators? Are they what brought us this crisis in the first place? In the new book Financial Fiasco: How America’s Infatuation with Home Ownership and Easy Money Created the Economic Crisis, Johan Norberg digs deep into the foundation of the economic meltdown. Please join Cato scholars Johan Norberg and Mark Calabria for an analysis of the factors that created the financial crisis and for their recommendations for solving these problems.