Featuring John Allison, President and CEO, Cato Institute; James A. Dorn,Vice President for Monetary Studies and Senior Fellow, Cato Institute; and Mark Calabria, Director of Financial Regulation Studies, Cato Institute; moderated by John Maniscalco, Director of Congressional Affairs, Cato Institute.
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 Andrew Mwenda,
Political Editor, Daily Monitor (Kampala, Uganda), with comments by
Mauro De Lorenzo, Resident Fellow, American Enterprise Institute.
The international aid lobby claims that increased foreign aid will help to solve Africa’s problems. But, as the case of Uganda shows, foreign aid can exacerbate those problems. Foreign aid, Andrew Mwenda writes in a recent Cato study, has provided the Ugandan government with an independent source of revenue that has allowed it to remain unaccountable to Uganda’s citizens. Moreover, aid has enabled the government to pay its bills without having to undertake further necessary economic reforms. The government has wasted much of the aid money on military equipment and political patronage. To promote democracy and accountability, the West should discontinue future aid flows to Uganda.