![Media Name: cato-journal-v16n1.jpg](/sites/cato.org/files/styles/serial_cover_phone/public/serials/covers/cato-journal/cato-journal-v16n1.jpg?itok=VVQH5quX) 

# Spring/​Summer 1996 

Vol. 16 No. 1 

William A. Niskanen on welfare, R. Richard Geddes on public utilities, and more...

##### Articles 

#### [Welfare and the Culture of Poverty ](/cato-journal/spring/summer-1996/welfare-culture-poverty)

By [William A. Niskanen](https://www.cato.org/people/william-niskanen) 

#### [Bank Failures, Systemic Risk, and Bank Regulation ](/cato-journal/spring/summer-1996/bank-failures-systemic-risk-bank-regulation)

By George G. Kaufman 

#### [Is Free Banking More Prone to Bank Failures Than Regulated Banking? ](/cato-journal/spring/summer-1996/free-banking-more-prone-bank-failures-regulated-banking)

By Kam Hon Chu 

#### [Time to Repeal the Public Utility Holding Company Act ](/cato-journal/spring/summer-1996/time-repeal-public-utility-holding-company-act)

By R. Richard Geddes 

#### [Trade and Human Rights: The Case of China ](/cato-journal/spring/summer-1996/trade-human-rights-case-china)

By [James A. Dorn](https://www.cato.org/people/james-dorn) 

#### [Bureaucratic Corruption in Africa: The Futility of Cleanups ](/cato-journal/spring/summer-1996/bureaucratic-corruption-africa-futility-cleanups)

By John Mukum Mbaku 

#### [The Paradox of Thrift: RIP ](/cato-journal/spring/summer-1996/paradox-thrift-rip)

By Clifford F. Thies 

#### [Error and Bias in Benefit-Cost Analysis: HUD’s Case for the Wind Rule ](/cato-journal/spring/summer-1996/error-bias-benefit-cost-analysis-huds-case-wind-rule)

By Louis De Alessi 

#### [Journal of Money Credit And Banking ](/cato-journal/spring/summer-1996/journal-money-credit-banking)

##### Book Review 

##### [*Getting it Right: Markets and Choices in a Free Society* by Robert J. Barro](/cato-journal/spring/summer-1996/getting-it-right-markets-choices-free-society-robert-j-barro)

By [Doug Bandow](https://www.cato.org/people/doug-bandow) 

##### [*A License to Steal: The Forfeiture of Property* by Leonard W. Levy](/cato-journal/spring/summer-1996/license-steal-forfeiture-property-leonard-w-levy)

By [Donald J. Boudreaux](https://www.cato.org/people/donald-boudreaux) and Adam C. Pritchard 

##### [*Madison on the “General Welfare” of America: His Consistent Constitutional Vision* by Leonard J. Lorenson](/cato-journal/spring/summer-1996/madison-general-welfare-america-consistent-constitutional-vision)

By [Robert A. Levy](https://www.cato.org/people/robert-levy) 

##### [*Pop Internationalism* by Paul Krugman](/cato-journal/spring/summer-1996/pop-internationalism-paul-krugman)

By [William A. Niskanen](https://www.cato.org/people/william-niskanen) 

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