Many political leaders and pundits consider wealth inequality to be a major economic and social problem. They complain about a shift of wealth to the top at everyone else’s expense and about plutocrats dominating policymaking in Washington. But is wealth inequality the crisis that some people believe? In a new study, Cato scholars Chris Edwards and Ryan Bourne examine six aspects of wealth inequality and discuss the evidence for the claims being made.
- "Exploring Wealth Inequality," by Chris Edwards and Ryan Bourne
Since its inception, supporters of the Jones Act have claimed that the law is essential to U.S. national security. Although indefensible on economic grounds, Jones Act advocates argue that its restrictions promote the development of both a U.S. merchant marine and shipbuilding and repair capability that can be utilized by the country's military in times of war. In a new study, Cato scholar Colin Grabow examines the national security justification and finds that the law has produced an outcome that is perilously at odds with its stated goals.
In 2001, the late Nobel laureate Milton Friedman agreed to lend his name to an international award for the promotion of individual liberty: The Milton Friedman Prize for Advancing Liberty. In a statement at the time he said: “Those of us who were fortunate enough to live and be raised in a reasonably free society tend to underestimate the importance of freedom. We tend to take it for granted. It has made us in the West more complacent, so having a prize emphasizing liberty is extremely important.” Presented every other year to an individual who has made a significant contribution to advance human freedom, it will be awarded at the 2020 Milton Friedman Prize for Advancing Liberty Biennial Dinner on May 20, 2020 at Cipriani 42nd Street, New York. The deadline for submitting nominations is November 29, 2019. Save both dates and submit your nomination here.