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.
Featuring Robert Sauer, President, Jerusalem Institute for Market Studies; Corinne Sauer, Executive Director, Jerusalem Institute for Market Studies; and Doug Bandow, Senior Fellow, Cato Institute; moderated by Ian Vasquez, Director, Center for Global Liberty and Prosperity, Cato Institute.
The United States gives Israel some $3 billion in annual aid conditioned on similar aid to Egypt, Jordan, Saudi Arabia, and the Palestinian Authority. According to a study by the Jerusalem Institute for Market Studies, every dollar granted to Israel costs Israel between $1.06 and $1.39. The panel will discuss how the structure of this aid forces Israel to spend more than $3 billion on defense to maintain a balance of power in the region and why ending U.S. aid to the Middle East would benefit regional security and prosperity. Cato scholar Doug Bandow will explain why cutting the aid is also in the interest of the United States.