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# Summer 2023 

Vol. 46 No. 2 

[Subscribe](https://store.cato.org/collections/all-products/products/regulation-magazine) 

##### From the Cover 

### [Uneducating Americans on Vaping ](/regulation/summer-2023/uneducating-americans-vaping)

By Jacob James Rich and Jonathan H. Adler 

False ideas about comparative risk result in deadly ignorance.

##### Behind the Issue 

### *Unintended Consequences*

##### The Podcast of *Regulation*

In This Episode 

Is there an “optimal hypocrisy” when it comes to enforcing laws and regulations? That’s the central theme in this episode of *Unintended Consequences*, which covers both water policy and the neutrality of government economists.

[ 

Download Episode 

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[ 

Apple Podcasts 

](https://podcasts.apple.com/us/podcast/unintended-consequences/id1684573879) [ 

Spotify 

](https://open.spotify.com/show/693Xy6u85pJX42IPsUK7cE) 

##### Features 

#### [Rail Safety Policy After East Palestine ](/regulation/summer-2023/rail-safety-policy-after-east-palestine)

By Michael F. Gorman 

The proposed Rail Safety Act would be marginally effective at best and result in more goods traveling by other, more dangerous modes.

#### [The Rise of Nonbank Mortgage Lending ](/regulation/summer-2023/rise-nonbank-mortgage-lending)

By [Mark A. Calabria](https://www.cato.org/people/mark-calabria) 

The unbundling of originating, servicing, funding, and investing of mortgages has been driven largely by regulatory arbitrage.

#### [The Neutrality of Government Economists ](/regulation/summer-2023/neutrality-government-economists)

By Stuart Shapiro 

How involved should agency economists and other bureaucrats be in policymaking?

#### [Responding to the New Major Questions Doctrine ](/regulation/summer-2023/responding-new-major-questions-doctrine)

By Christopher J. Walker 

Congress should adopt a fast-track legislative process to make the value judgments that courts leave to it when they apply the major questions doctrine.

#### [Saving Lives While Saving Money ](/regulation/summer-2023/saving-lives-while-saving-money)

By [Ike Brannon](https://www.cato.org/people/ike-brannon) 

The Living Kidney Donor Support Act would benefit tens of thousands of Americans and save billions of tax dollars.

##### For the Record 

##### [Confessional Economics ](/regulation/summer-2023/confessional-economics)

By [Mark A. Calabria](https://www.cato.org/people/mark-calabria) 

##### Briefly Noted 

##### [Is It Finally Time for Narrow Banking? ](/regulation/summer-2023/it-finally-time-narrow-banking)

By Paul E. Godek 

##### [Against Taxing Corporate Stock Buybacks ](/regulation/summer-2023/against-taxing-corporate-stock-buybacks)

By Richard R. West and James A. Largay 

##### [Why the Great Enrichment Started in the West ](/regulation/summer-2023/why-great-enrichment-started-west)

By Pierre Lemieux 

##### [Climate Damages, Globalism, and Federal Regulation ](/regulation/summer-2023/climate-damages-globalism-federal-regulation)

By Art Fraas, John D. Graham, Kerry Krutilla, Randall Lutter, Jason Shogren, & W. Kip Viscusi 

##### [Is a Child’s Life Twice as Valuable as an Adult’s? ](/regulation/summer-2023/childs-life-twice-valuable-adults)

By Thomas J. Kniesner and W. Kip Viscusi 

##### In Review 

##### [ *Highway Heist*](/regulation/summer-2023/highway-heist)

By George C. Leef 

##### [ *Permanent Distortion*](/regulation/summer-2023/permanent-distortion)

By Vern McKinley 

##### [ *We Need To Talk About Inflation*](/regulation/summer-2023/we-need-talk-about-inflation)

By [Ryan Bourne](https://www.cato.org/people/ryan-bourne) 

##### [ *How the Court Became Supreme*](/regulation/summer-2023/how-court-became-supreme)

By George C. Leef 

##### [ *The* Chevron *Doctrine*](/regulation/summer-2023/chevron-doctrine)

By Jonathan H. Adler 

##### [ *Surprised Again! The COVID Crisis and the New Market Bubble*](/regulation/summer-2023/surprised-again-covid-crisis-new-market-bubble)

By Vern McKinley 

##### [ *The Tragic Science*](/regulation/summer-2023/tragic-science)

By Phil R. Murray 

##### [Working Papers ](/regulation/summer-2023/working-papers)

By [Peter Van Doren](https://www.cato.org/people/peter-van-doren) 

##### Final Word 

##### [Give ‘Em What They Don’t Want ](/regulation/summer-2023/give-em-what-they-dont-want)

By A. Barton Hinkle 

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