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 author Allan H. Meltzer, University Professor of Political Economy at Carnegie Mellon University; with comments by John Mueller, Senior Fellow, Cato Institute; moderated by David Boaz, Executive Vice President, Cato Institute.
The only economic system that maximizes both growth and individual liberty is capitalism, explains Allan H. Meltzer in his new book. Capitalism succeeds because it is adaptive, not rigid, whereas so much regulation often fails despite good intentions. The author will explain why European welfare states lag behind the United States, the causes of postwar progress and current enormous budget deficits, and why inflation will return. Join us to hear Professor Meltzer’s passionate defense of the free market at a time when U.S. citizens seem to lack a shared vision of the way to maintain domestic or world growth. John Mueller will comment on the role of capitalism in human progress.