![Regulation - Fall 2024 - Cover](/sites/cato.org/files/styles/serial_cover_phone/public/2024-09/regulation-v47n3-cover.jpg?itok=xC3wc17u) # Fall 2024 Vol. 47 No. 3 [Subscribe](https://store.cato.org/collections/all-products/products/regulation-magazine) ##### From the Cover ### [Are Drug Prices Abroad Too Low? ](/regulation/fall-2024/are-drug-prices-abroad-too-low) By H.E. Frech III, Mark Pauly, and William S. Comanor Countries’ contributions to the pharmaceutical R&D public good reflect the size of their economies. ##### Behind the Issue ### *Unintended Consequences* ##### The Podcast of *Regulation* In This Episode There is substantial overlap between the Biden and Trump administrations on economic policy. Both presidents have favored protectionist industrial policy and higher import tariffs. Yet these policies would not only fail to return America to the economy of the early 20th century; they would harm most ordinary American workers and consumers in the attempt. In this episode, Peter and Paul discuss the incredible cost of Trump’s proposed tariff increases, the retrograde nature of Biden’s approach to the steel industry, and a surprising result from the research on universal basic income. [ Download Episode ](https://feeds.acast.com/public/streams/643947a1309d10001195d3e7/episodes/670d8a0840241b7003a5fd84.mp3)Subscribe: [ Apple Podcasts ](https://podcasts.apple.com/us/podcast/unintended-consequences/id1684573879) [ Spotify ](https://open.spotify.com/show/693Xy6u85pJX42IPsUK7cE) ##### Features #### [What Should Become of US Steel? ](/regulation/fall-2024/what-should-become-us-steel) By Ronald Bird Policymakers have little reason to fear the Nippon Steel deal. #### [Assessing Trump’s New Tariff Ideas ](/regulation/fall-2024/assessing-trumps-new-tariff-ideas) By Pierre Lemieux The former president still suffers from “Trade Derangement Syndrome.” #### [Taking the REINS of the Administrative State ](/regulation/fall-2024/taking-reins-administrative-state) By Alex J. Adams and Tim Frost Idaho offers useful insights into the effects of legislative review of regulation. ##### What Happens Post-*Chevron*? #### [What Happens Post-*Chevron*? — Introduction ](/regulation/fall-2024/what-happens-post-chevron-introduction) By [Peter Van Doren](https://www.cato.org/people/peter-van-doren) Many dire predictions and a lot of heated rhetoric have followed the *Loper Bright* decision, but what are its likely consequences? #### [The Game Continues ](/regulation/fall-2024/game-continues) By [Peter Van Doren](https://www.cato.org/people/peter-van-doren) The Supreme Court’s *Loper Bright* decision will only change the *processes* in this game. #### [Whither Congress? ](/regulation/fall-2024/whither-congress) By Keith B. Belton Aside from creating uncertainty, *Loper Bright* will likely increase the number of judicial challenges as well as judicial invalidation of rules. #### [Short-Term vs. Long-Term Effects ](/regulation/fall-2024/short-term-vs-long-term-effects) By Stuart Shapiro As the bureaucratic literature often observes, mission is very important in the motivational structure of public servants. #### [What’s Next after *Loper Bright*? ](/regulation/fall-2024/whats-next-after-loper-bright) By Thomas J. Kniesner and W. Kip Viscusi The regulatory problems that emerged both before and after the *Chevron* decision are much more fundamental and can be traced back to the authorizing statutes, not just the behavior of the administrative state. ##### Briefly Noted ##### [CON and Ambulatory Surgical Centers ](/regulation/fall-2024/con-ambulatory-surgical-centers) By Thomas Stratmann, Markus Bjoerkheim, and Christopher Koopman ##### [MFN Clauses and TV Programming ](/regulation/fall-2024/mfn-clauses-tv-programming) By [Ike Brannon](https://www.cato.org/people/ike-brannon) ##### In Review ##### [Book Review: *The State of Black Progress: Confronting Government and Judicial Obstacles*](/regulation/fall-2024/book-review-state-black-progress-confronting-government-judicial-obstacles) By George C. Leef ##### [Book Review: *The Individualists: Radicals, Reactionaries, and the Struggle for the Soul of Libertarianism*](/regulation/fall-2024/book-review-individualists-radicals-reactionaries-struggle-soul-libertarianism) By Pierre Lemieux ##### [Book Review: *Better Health Economics: An Introduction for Everyone*](/regulation/fall-2024/book-review-better-health-economics-introduction-everyone) By Phil R. Murray ##### [Book Review: *Late Admissions: Confessions of a Black Conservative*](/regulation/fall-2024/book-review-late-admissions-confessions-black-conservative) By Art Carden ##### [Book Review: *When McKinsey Comes to Town: The Hidden Influence of the World’s Most Powerful Consulting Firm*](/regulation/fall-2024/book-review-when-mckinsey-comes-town-hidden-influence-worlds-most-powerful-consulting) By Vern McKinley ##### [Book Review: *The Medieval Constitution of Liberty: Political Foundations of Liberalism in the West*](/regulation/fall-2024/book-review-medieval-constitution-liberty-political-foundations-liberalism-west) By Pierre Lemieux ##### [Working Papers ](/regulation/fall-2024/working-papers) By [Peter Van Doren](https://www.cato.org/people/peter-van-doren) A summary of recent papers that may be of interest to *Regulation*’s readers. ##### Final Word ##### [The Weirdness of Politics ](/regulation/fall-2024/weirdness-politics) By Tim Rowland Last month, Democrats trotted out a word to chastise this sort of policy flimflam: “Weird.” ##### Latest Issues [![Regulation - Fall 2026 - Cover](/sites/cato.org/files/styles/serial_cover_phone/public/2026-09/regulation-fall-2026-cover.jpg?itok=4PdTh8RK)](https://www.cato.org/regulation/fall-2026) [Fall 2026](/regulation/fall-2026) [![Regulation - Summer 2026 - Cover](/sites/cato.org/files/styles/serial_cover_phone/public/2026-06/regulation-summer-2026-cover.jpg?itok=mgR9E73X)](https://www.cato.org/regulation/summer-2026) [Summer 2026](/regulation/summer-2026) [![Regulation - Spring 2026 - Cover](/sites/cato.org/files/styles/serial_cover_phone/public/2026-03/regulation-spring-2026-cover.png?itok=_E4_q18u)](https://www.cato.org/regulation/spring-2026) [Spring 2026](/regulation/spring-2026) [![Regulation Winter 2025-2026 Cover](/sites/cato.org/files/styles/serial_cover_phone/public/2025-12/regulation-v48n4-cover.jpg?itok=QSGuJRQT)](https://www.cato.org/regulation/winter-2025-2026) [Winter 2025–2026](/regulation/winter-2025-2026)