Inflation targeting emerged in the early 1990s and soon became the dominant monetary-policy regime. It provided a much-needed nominal anchor that had been missing since the collapse of the Bretton Woods system.
How have federal personal income tax obligations evolved over the past 60 years? A common perception is that the federal income tax burden on the poor has increased while the tax burden on the rich has declined. This study focuses on three archetypical households.
Have you ever had a car break down just as you felt you were beginning to get somewhere? And had to get out and hitchhike, hoofing it while hoping for a ride? If so, you know what it’s like to have your speed reduced to a crawl and to be hoping for a better ride. That’s the current situation with the economy.
Formal rulemaking requires agencies to make policy through a process akin to a trial; it involves cross-examination, burdens of proof, and a bar on ex parte communications. The idea is that formal procedures can help create better substantive policy. This form of rulemaking, however, is almost never used anymore. Instead, informal rulemaking—which is conducted through written comments, with no trial-like procedures—is now essentially the only type of rulemaking used.
Analysis of the data suggests that industries that are more regulated are also less productive. The one-third of industries that are least regulated show growth rates in output per hour and growth rates in output per worker that are 1.8 and 1.9 times, respectively, the growth rates for the one-third of industries that are most regulated.
Federalism is commonly thought to be a pro-liberty form of government. The American system was clearly founded on classically liberal principles. Yet it is reasonable to wonder how a system in which two or more governments can each tax and regulate a citizen can be favorable to liberty relative to a system where only one government can do that. The answer is that federalism can be favorable to liberty, but it need not be. Whether federalism is favorable or hostile to liberty depends on whether the governments within the system must compete with one another for citizen support or whether those governments are able to collude with one another, and thus expand political power relative to citizen liberty. While the United States was founded on competitive principles, it has morphed into a system of collusive federalism—and the 16th and 17th Amendments to the Constitution played a big role in this transition.
The television distribution marketplace has been substantially regulated since the advent of broadcast television in the 1940s and 1950s. The Federal Communications Commission and Congress have relied on several justifications for the regulatory protection of the system of local broadcasters envisioned post–World War II, namely, (1) universal service, (2) localism, (3) free television, and (4) competition.
This paper will describe the current dynamic provision of cybersecurity and explain how a technocratic solution like the Cybersecurity Framework could weaken this process and ultimately undermine cybersecurity.
Regulatory impact analysis (RIA) is a tool regulators use to help guide them through the decision-making process when promulgating regulations. The goals of an RIA are simple and straightforward: to assess whether a problem exists that is systemic in nature and therefore requires intervention, to define the desired outcome sought through intervention, to describe the various alternatives that might address the problem and bring about the desired outcome, and to compare the benefits and costs of each alternative.
Join America’s Future Foundation and the Mercatus Center for a discussion on weighing the benefits and drawbacks of attending graduate school. Hear speakers from a variety of backgrounds offering advice for what your next step should be.
In Homer Economicus a cast of lively contributors takes a field trip to Springfield, where the Simpsons reveal that economics is everywhere. By exploring the hometown of television's first family, this book provides readers with the economic tools and insights to guide them at work, at home, and at the ballot box.