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.
President Obama and others on the Left have proposed a public plan–modeled on Medicare–to compete with private insurers. But Medicare is not the solution; it is the problem. Besides, there’s no true competition if one of the players is also the referee. This session will explain why any package of reforms including “Medicare for More” deserves defeat.