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 Sallie James, Center for Trade Policy Studies, Cato Institute, Dan Mitchell, Cato Institute, and Christian Weller, Center for American Progress.
After an extended primary season, the 2008 presidential campaign is finally under way and the candidates are presenting—at least in some areas—starkly different economic policy proposals. Sen. John McCain is a career-long free trader, consistently voting against trade barriers and subsidies. Sen. Barack Obama, although possessing a shorter voting record, puts greater restrictions on his support for free trade and favors a time-out on new trade agreements and extensive review—and possible renegotiation—of existing ones. On fiscal policy, Sen. McCain wants lower taxes while Sen. Obama proposes to shift the tax burden to wealthier Americans. According to the National Taxpayers Union, Sen. McCain has endorsed $68 billion of additional government spending per year and Sen. Obama has called for nearly $344 billion of bigger government. How would these policies strengthen the U.S. economy or damage it? If Obama is elected, would Congress simply rubber-stamp his proposals? If McCain wins, would Congress approve his agenda? Please join us as our panel discusses the McCain and Obama tax, spending, and trade plans.