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 Robert Guest, Africa Editor, The Economist; with comments by Marian Tupy,
Assistant Director, Project on Global Economic Liberty, Cato Institute; and moderated by Ian Vásquez, Cato Institute.
The Shackled Continent addresses Africa’s thorniest problems: war, AIDS, and above all, poverty. Robert Guest, who spent six years reporting from the world’s poorest continent, pulls the veil off the corruption and intrigue that cripple so many African nations. Guest believes that Africans have been impoverished largely by their own leaders. In the postcolonial era, African rulers–a group he calls “thugocracy”–have shackled their people’s entrepreneurial talents and driven the brightest and most honest to emigrate. From the minefields of Angola to the barren wheat fields of Zimbabwe, Guest gathers startling evidence of the misery African leaders have inflicted on their people. But he also finds success stories, from which he draws hope. With less predatory and more pragmatic government, he argues, the continent will eventually prosper.