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 Anthony Cordesman, Center for Strategic and International Studies; John Parachini, Monterey Institute of International Studies; Bruce Hoffman, RAND Corporation; Ivan Eland, Cato Institute.
The recent bombing of the USS Cole is one of many incidents of terrorism directed against the United States. More than 40 percent of the world’s terrorism is directed against U.S. targets. How should the United States respond to such attacks? Some experts suggest a military response, some would pursue the alleged perpetrators through the criminal justice system, and still others would beef up intelligence capabilities. To deal with potential attacks involving weapons of mass destruction, some analysts advocate extending the reach of law enforcement agencies or spending more on domestic preparedness programs; others would encourage a policy of U.S. military restraint overseas to attempt to reduce the motivation for terrorist attacks on U.S. targets. Which policy or combination of policies makes the most sense? The participants will discuss those issues.