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 William Niskanen, Chairman, Cato Institute; Michael Tanner, Director
Cato Institute Project on Social Security Choice; Jagadeesh Gokhale, Senior Fellow,
For deficit hawks from both parties, Social Security reform appears to force difficult choices. The current system faces an $11.9 trillion short fall. Personal accounts will save trillions but require cash up-front. Three experts from the Cato Institute will examine the budgetary issues surrounding Social Security reform and whether personal accounts can be created in a fiscally responsible way.