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.
Former U.S. Agriculture Secretary and Trade Representative;
Former U.S. Representative (D-CA);
Australian Bureau of Agriculture and Resource Economics;
Director, Center for Trade Policy Studies, Cato Institute
A U.S. proposal to reduce global farm subsidies and trade barriers has breathed life back into global trade talks on the eve of an important World Trade Organization meeting in Hong Kong in December. Reducing those barriers will be the key to a successful Doha Round of trade negotiations in the WTO. A Cato Policy Forum will examine the prospects for meaningful agricultural trade reform at home and abroad, and discuss the potential benefits for American consumers, producers, taxpayers, and farmers. The event will highlight two recent studies from the Cato Institute and the Australian Bureau of Agriculture and Resource Economics (ABARE) on the opportunities to expand markets for farm products.