The financial bailouts of 2008 were but one example in a long list of privileges that governments occasionally bestow upon particular firms or particular industries. Whatever its guise, government-granted privilege is an extraordinarily destructive force. It misdirects resources, impedes genuine economic progress, breeds corruption, and undermines the legitimacy of both the government and the private sector.
Dedicating tax revenues to specific expenditures can be used by policymakers to mask increases in total government spending. Our empirical results show that dedicated tax revenues tend to result in an increase in total government size but have little effect on the expenditures to which they are tied.[…
The field of corporate governance has long considered the costs of the separation of ownership from control in publicly traded corporations and the regulatory and market structures designed to limit those costs.
Getting rid of obsolete regulation of the broadcast and distribution of video pro- gramming is essential to the efficient operation of a market that has the potential to greatly increase the benefits to consumers.
The reforms to the U.S. air transportation market since the late 1970s have clearly brought about economic improvements, including lower average prices for users, and greater choice among suppliers, and service attributes more in line with what customers seek. However, the market remains far from perfect, with a range of residual economic regulations stymieing the full potential of the sector.
Maryland should end the SAC and instead adopt a strict mathematical rule to limit spending based on the sum of the increase in population and inflation. Such a TEL must work with other institutional reforms in order to effectively meet the goal of limiting spending as intended by the designers of Maryland’s Spending and Affordability Committee.
There has been no shortage of attention devoted to cybersecurity, with a wide range of experts warning of potential doomsday scenarios should the government not act to better secure the Internet. But this is not the first time we have been warned of impending dangers; indeed, there are many parallels between present portrayals of cyberthreats and the portrayal of Iraq prior to 2003, or the perceived bomber gap in the late 1950s.