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 the Hon. Cal Dooley, President and CEO, Grocery Manufacturers/Food Products Association, and Daniel Griswold, Director, Center for Trade Policy Studies, Cato Institute.
Every U.S. president since 1974 has been granted authority by Congress to negotiate agreements with other nations to expand trade. At the end of June, the Bush administration’s ability to negotiate such agreements and submit them to Congress for an up-or-down vote, known as Trade Promotion Authority, will expire. Advocates say trade agreements promote economic growth, while Democratic leaders in Congress have vowed not to renew TPA without tougher language requiring other countries to improve their labor and environmental standards. How reasonable are the objections to TPA renewal? How important is TPA to successful completion of the Doha Round in the World Trade Organization? A former Democratic congressman and key player in U.S. trade policy will join a Cato trade expert to examine the looming battle over TPA.