A new study for the Mercatus Center at George Mason University examines the reasons behind the ACA exchanges’ failure to meet widespread expectations. The study explains the likely impact of this failure on health insurance prices and risk pool stability, bringing into question the law’s future prospects of survival without significant revisions.
Canada recently passed a federal law requiring that one regulation be removed for every new regulation introduced. This change has deep roots in a broader set of reforms from the province of British Columbia, designed to control red tape while preserving justified regulation. British Columbia’s model of regulatory reform is notable for its success and longevity. Canada’s experience with regulatory reform offers some very practical lessons for US governments. The essential ingredients of effective reform include political leadership from the top, public reporting of clear metrics, and constraints on regulators. It is also very helpful to have a credible group outside government pushing for less red tape. In Canada’s case, that group was and continues to be small business.
A new study for the Mercatus Center at George Mason University reviews the empirical literature on the effects of land-use regulations. The study finds that these regulations reduce the sup- ply of housing relative to what it would likely be in a free market and ultimately increase housing costs for consumers. Because lower-income households spend on average a larger percentage of their income on housing than higher-income households, the costs of these regulations disproportionately burden low-income households. Restraining the growth of land-use restrictions and rolling them back would benefit not only low- and middle-income households, but also overall economic growth.
Advocates of cosmopolitan ideals, to the extent that they engage with questions of institutional design, typically imagine replicating or refining existing, nation-state models of governance but on an international scale. This essay argues that cosmopolitan ethics need not go hand in hand with international government, and may be better served by a different approach.
Proponents of the Affordable Care Act (ACA) have frequently pointed to official cost estimates projecting that the law will reduce federal budget deficits. Much less attention has been paid to the primary reason for this favorable outlook: the law’s heavy reliance on indexing important provisions to restrain spending and increase revenue. These components of the ACA will automatically impose perpetual, across-the-board cuts on payments to certain institutional medical providers; increase premiums for lower-income households; and raise taxes on an ever-expanding segment of taxpayers.
A new paper for the Mercatus Center at George Mason University shows why the current system of medical device approval discourages technological innovation and ultimately affects patient choice. The approval process could be improved by introducing competition for approval—a process that already exists in the European Union.
I develop a positive theory of sovereignty that is rooted in political exchange. The key concept I use to characterize sovereignty is self-enforcing exchange of political rights. I conclude that a sovereign is an individual or body party to political exchange that does not rest on third-party enforcement. Importantly, sovereignty is an emergent phenomenon, defined in the process of bargains between holders of political power.
At the turn of the 21st century, biofuels appeared to be a solution to mounting concerns over greenhouse gas emissions, climate change, skyrocketing fuel prices, and dependence on foreign energy. When Congress passed the Energy Policy Act (EP Act) in 2005 with a renewable fuel standard (RFS) provision mandating producers to add ethanol to gasoline, it is unlikely that lawmakers thought the act would increase hunger and social unrest in the world’s poorest countries. However, unintended consequences frequently accompany even the most well intentioned policies.
In May of 2015, the European Commission released a package outlining the vision for its Better Regulation initiative, a program aimed at improving outcomes of the European Union (EU) regulation. The move represents a step forward for regulatory reform in the EU, and signals a potential shift in world leadership roles among countries promoting evidence based policy. The United States (US), once at the forefront of regulatory science and analysis, may now be lagging behind. If Better Regulation is implemented as its ambitious designers envision, this could signal a new role for the EU in advancing 21st century policymaking.
Rebounding after disasters like tsunamis, hurricanes, earthquakes, and floods can be daunting. Communities must have residents who can not only gain access to the resources that they need to rebuild but who can also overcome the collective action problem that characterizes post-disaster relief efforts.
Rebounding after disasters like tsunamis, hurricanes, earthquakes, and floods can be daunting. Communities must have residents who can not only gain access to the resources that they need to rebuild but can overcome the collective action problem that characterizes post-disaster relief efforts.