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 the author, Deepak Lal, Adjunct Scholar, Cato Institute, Professor of International Development Studies, University of California at Los Angeles with comments by Anne Krueger, First Deputy Managing Director, International Monetary Fund
India is an emerging economic giant. Deepak Lal will explain the role that modernity and tradition have played in that country’s recent moves to the market after decades of stagnation. Why has democracy succeeded and the caste system survived in India? Why did India switch to more liberal economic policies, and why is it likely to overtake China in the race for economic growth? Lal will provide answers to those questions and review India’s development challenges. Anne Krueger will comment on the record and prospects of Indian growth and poverty reduction.