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 Senator Tom Coburn, M.D.
(R-Oklahoma); Stephen Slivinski, Director of Budget Studies, Cato Institute; and Veronique DeRugy, Research Fellow, American Enterprise Institute
The zeal to cut government spending seems to be absent from the Republican Congress these days. The same members who were swept into office on the promise of making government smaller have presided over the largest spending increases since Lyndon Johnson. President Bush has assisted this growth by not vetoing a single bill in his first term and by proposing increases in the federal budget for various pet programs. Does Bush’s new budget reverse the trend, or is it simply more of the same? Please join us for a discussion of how the Republican budget revolution went astray and what can be done to get it back on track.