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 Simeon Djankov, World Bank and Daniel Ikenson, Cato Institute
Improving the international trading system does not depend solely on new, comprehensive multilateral agreements. Countries can realize significant gains in commercial flows by undertaking trade facilitation—reforms that decrease administrative and physical impediments to transporting goods and services across borders. According to recent studies from several international economic institutions and a new Cato paper, trade facilitation reforms could increase global trade flows even more than further reductions in tariff rates and are primarily and substantially in the interest of the country implementing reform. Please join Cato trade scholar Daniel Ikenson and World Bank economist Simeon Djankov to discuss how to expand international commerce even without new multilateral trade agreements.