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.
Featuring Robert Pozen, Chairman, MFS Investment Management, Member, President’s Commission to Strengthen Social Security; Jason Furman, Adjunct Professor, New York University; David John, Research Fellow, Thomas A. Roe Institute for Economic Policy Studies, The Heritage Foundation, and moderated by Michael D. Tanner, Director of Health and Welfare Studies, Cato Institute
President Bush has endorsed a proposal to slow the growth in future Social Security benefits for middle- and upper-income retirees by changing the benefit formula from wage indexing to price indexing. Critics charge that such a change will weaken Social Security’s foundations while hitting the middle class hardest. Supporters claim it is a fair way to bring Social Security’s promised benefits in line with what can actually be paid. Join us as Robert Pozen, author of the progressive price-indexing concept, and two other experts discuss the impact of this proposal.