Economics

Research

The Economic Situation, December 2012 Bruce Yandle \| Dec 05, 2012 As 2012 comes to an end, how is the great American bread machine faring? Are we about to move from the pale-growth doldrums and shift into passing gear? Or will 2013 bring more of the same?	Economic Analysis By Federal Financial Regulators Hester Peirce \| Oct 23, 2012 This paper will describe just how little high-quality economic analysis the federal financial regulators charged with implementing Dodd-Frank and regulating the financial markets are doing.[3] Although each regulator has a unique approach to economic analysis, all of their approaches fall short of the standard to which executive agencies are held. More fundamentally, the federal financial regulators are depriving themselves of analysis essential to the proper exercise of their rulemaking functions.
The Case for Nominal GDP Targeting Scott Sumner \| Oct 23, 2012 The history of central banking is a story of one failure after another. This does not mean our actual monetary regimes have been the worst of all possible regimes—far from it. But it does mean we can improve policy by learn- ing from experience. Every proposed reform is a response to a previous failure, an implicit display of lessons learned.	Uncreative Destruction: The Misguided War on Vertical Integration in the Information Economy Adam Thierer, Brent Skorup \| Oct 16, 2012 We argue that the antitrust harms Columbia Law Professor Tim Wu fears are not present, and we highlight scholarship on the accepted benefits of vertically integrated firms. We show that Wu's remedies are policy preferences wrapped in the language of competition law. In fact, the information economy is largely competitive and does not warrant interventionist regulatory enforcement. Since much of American economic vitality flows from the information economy and technology, policymakers should reject a radical antitrust remedy like Wu’s preemptive Separations Principle.
The Economic Situation, October 2012 Bruce Yandle \| Oct 09, 2012 This special Mercatus Center edition of my Economic Situation report focuses on what I call the stumbling U.S. economy. In the report, I seek to explain how and why the economy is performing so poorly. I do this by assessing some of the economy’s major features. The first assessment involves an examination of the economy’s uneven pulse beat, best seen in GDP growth data. I then turn to state unemployment and state GDP growth data and present another picture of uneven growth. After discussing federal budgets and deficits, I turn to labor markets and then to an assessment of the Federal Reserve Board’s efforts to stimulate the economy using quantitative easing. I conclude this special report with a brief review of what has happened to income distribution and a short summary of what I expect we will see across the rest of 2012 and in 2013.	Medicaid Reform and Emergency Room Visits: Evidence from West Virginia's Medicaid Redesign , Tami Gurley-Calvez, Genevieve M. Kenney, Kosali Simon and Douglas Wissoker \| Oct 02, 2012 We use an innovative redesign of West Virginia’s Medicaid that took place from 2007 to 2010 to estimate the causal impact of incentives within Medicaid to encourage better health and health care behaviors and reduce emergency room (ER) visits.

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Testimony & Comments

Assessing the Department of Energy Loan Guarantee Program Veronique de Rugy \| Jun 19, 2012 For obvious reasons, more than any other recent events, the waste of taxpayers’ money due to Solyndra’s failure has attracted much attention. However, the problems with loan guarantees are much more fundamental than the cost of one or more failed projects.	Comment on OMB's Draft 2012 Report to Congress on the Benefits and Costs of Federal Regulations Richard Williams \| Jun 11, 2012 The Office of Management and Budget (OMB) has requested comment on the 2012 Draft Report to Congress on the Benefits and Costs of Federal Regulations and Unfunded Mandates on State, Local and Tribal Entities (hereafter referred to as “the OMB report”). This comment has been produced by Richard A. Williams, Ph.D., of the Mercatus Center at George Mason University, an education, research, and outreach organization that works with scholars, policy experts, and government officials to bridge academic theory and real-world practice.
Addressing Concerns About the Integrity of the U.S. Department of Labor's Jobs Reporting Keith Hall \| Jun 06, 2012 For BLS to effectively disseminate data directly to the public and maintain credibility as an independent, objective provider of data, DOL should not interfere with BLS’ dissemination of economic data through any means.	Oversight of the Federal Housing Administration's Reverse Mortgage Program for Seniors Anthony B. Sanders \| May 09, 2012 A reverse mortgage for seniors is a reasonable idea, but should not be guaranteed by the Federal government. It is an ownership decision and the Federal government must stop trying to micromanage this decision, particularly since there is an easy alternative that does not require government guarantees.
HARP's Uncharted Waters Anthony B. Sanders \| Apr 25, 2012 Let us be wary of creating another Jurassic Park policy change. We are in unchartered waters for housing finance and Federal Reserve policies and any further changes should be enacted with extreme caution.	Measuring the Costs and Benefits of New Rules J. W. Verret \| Apr 17, 2012 After a careful review of the legislative requirements that the SEC consider investor protection, efficiency, competition and capital formation in adopting new rules, I would like to simply offer a list of six items that would demonstrate a sincere commitment by the SEC to fulfill its statutory mission. The first five I will list are in fact required by law if one carefully reads the legislative and judicial history of the SEC’s mandate to consider the economic impact of new rules.

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Research Summaries & Toolkits

The Myth of "Deregulation" in Air Transportation Kenneth Button \| May 17, 2012 A new Mercatus Center study looks at the evolution and outcomes of government regulations in air transportation since the 1978 law was enacted.	Can Washington 'Fix' America's Obesity Problem? Fat Chance Michael L. Marlow, Sherzod Abdukadirov \| Mar 01, 2012 Obesity is not the result of market failure. Americans do not lack the knowledge, rationale, or motivation to improve their health. Thus, pursuing regulations intended for a market failure will not solve the problem.
Blueprint for Regulatory Reform: First, Lay the Cornerstone Richard Williams, Sherzod Abdukadirov \| Feb 07, 2012 The United States’ regulatory system long has failed to consistently produce efficient, cost-effective regulations that deliver promised benefits. For decades, presidents and Congresses have attempted to fix the regulatory system through a series of statutes and executive orders aimed at increasing transparency and improving analysis. Yet the pattern of poor regulatory choices persists, suggesting the problems are not political but deeply embedded in the institutions themselves.	"Fixing" the Tax Code: Key Principles for Successful Reform \| Feb 01, 2012 The most basic goal of tax policy is to raise enough revenue to meet the government’s spending requirements with the least impact on market behavior. The United States’ tax code has long failed to meet this aim: by severely distorting market decisions and the allocation of resources, it impedes both potential economic growth and potential tax revenue.
Fixing the Corporate Income Tax \| Nov 2011 A new working paper, “Why the United States Needs to Restructure the Corporate Income Tax,” by Mercatus Center at George Mason University senior scholar Jason Fichtner suggests successful reform of the U.S. corporate tax code must address its fundamental problems: 1) the uncompetitive corporate income tax rate; and 2) the outdated “worldwide” system for corporate tax collection.	The Impact of Regulation on Investment and the U.S. Economy Richard Williams \| Jan 11, 2011 In this research summary, Richard Williams discusses how regulations affect investment and jobs.

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Speeches & Presentations

Economics for Yesterday, Today and Tomorrow Peter J. Boettke \| Apr 12, 2010 Professor Peter J. Boettke's remarks upon receiving the 2010 Adam Smith Award from the Association of Private Enterprise Education.	The Battle of Ideas: Economics and the Struggle for a Better World Peter J. Boettke \| Aug 07, 2007 This paper is Peter J. Boettke's speech at the twelfth Sir Ronald Trotter Lecture in New Zealand. Sir Ronald Trotter was the first chairman of the New Zealand Business Roundtable, who was knighted in…
Frederic Sautet on Voice of America Frederic Sautet \| Jun 09, 2005 Frederic Sautet on Voice of America…	The Formal, the Informal and the Three Entrepreneurs Frederic Sautet \| Nov 19, 2004 On October 19, 2004, Mercatus Center Senior Fellow Frederic Sautet delivered a presentation on institutions and entrepreneurship to the New Zealand Business Roundtable (NZBR). This talk was part of…
Hayek Memorial Lecture Peter J. Boettke \| Oct 27, 2004 Is there a unique Austrian School of Economics that represents a viable research program in modern economics? Peter Boettke locates the intellectual position and opportunities for mutually beneficial…	Iraq: Physical and Political Security: Toward an Exit Strategy \| Nov 10, 2003 From the conference "America's Role as Nation Builder: Lessons Learned and Applied to Iraq." Discussion in this session revolved around concerns of nation building experts and practitioners.

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Expert Commentary

Why Is There No Milton Friedman Today? Econ Journal Watch By Daniel Klein, Tyler Cowen, John Blundell, David R. Henderson, David Colander, Richard Epstein, James Galbraith, J. Daniel Hammond, Daniel Houser, Steven Medema, Sam Peltzman, Richard Posner \| May 21, 2013 Imagine that someone with all the endowments of a Milton Friedman were born in the 1960s or 1970s. Is it conceivable that such a person would develop into a ‘Milton Friedman’ like we know the actual Friedman to have been, including his academic eminence and his eloquent and influential advocacy of classical liberalism? Here leading economists address the question: Why is there no Milton Friedman today?	A Profession With an Egalitarian Core The New York Times By Tyler Cowen \| Mar 18, 2013 Economics is sometimes associated with the study and defense of selfishness and material inequality, but it has an egalitarian and civil libertarian core that should be celebrated. And that core may guide us in some surprising directions.
Silence Golden for Market Economy Pittsburgh Tribune-Review By Donald J. Boudreaux \| Feb 13, 2013 One of the market economy's greatest flaws is the silence it maintains when it is working relatively flawlessly. When the market stumbles, though — or when it's tripped up by unwise government interventions — a great clamor is heard. Unemployment rises, stock prices and exchange rates plummet, and tales abound of this hardship and that lost dream. Pundits proclaim loudly that the unreliable market must be “corrected” or “tamed” by the wisdom and prudence of politicians.	The Fiscal Cliff: The Worst of Both Worlds Reason By Charles Blahous \| Dec 11, 2012 Without legislative action, millions of Americans’ tax bills will suddenly rise and federal spending will be suddenly cut. Many economists believe that allowing all this to happen simultaneously will have severe adverse economic effects, possibly plunging the nation back into recession.
Solve the Fiscal Cliff With a Spending Cap U.S. News and World Report By Antony Davies \| Nov 13, 2012 The election is over and Hurricane Sandy has passed, just in time for us to careen over the edge of the so-called "fiscal cliff." More important than the fact that we stand at the edge of the cliff is how we got here in the first place. Rather than addressing our fiscal problems, Washington's strategy has long been to kick them far enough down the road so as not to interfere with upcoming elections. The scary part is that every time we do this, the cliff gets steeper.	FEMA Doesn't Have Local Knowledge Needed for Effective Relief U.S. News and World Report Debate Club By Steven Horwitz \| Nov 01, 2012 The mistakes made by FEMA during its response to Hurricane Katrina are the stuff of legend. It failed to get to the worst hit areas for days, it was unprepared for the scope of the disaster, and many of the trailers it provided for temporary housing were later found to be toxic. It is hard to identify anything it did right in New Orleans and the Gulf Coast. Local politicians were merciless in their criticisms, even to the point of—rightly—praising the job done by Walmart in getting supplies to the New Orleans area and crediting Walmart's response with preventing looting and other problems in their towns.

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Charts

Third-Quarter Increase in GDP Growth Came From the Biggest Increase in Government Spending in Over Two Years

According to the Bureau of Economic Analysis, the economy grew by a modest 2 percent in the third quarter of 2012. While this was stronger growth than the preceding quarter, all of the increase in GDP growth came from the biggest increase in federal government spending in over two years.

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Experts

Paul Dragos Aligica

Paul Dragos Aligica is a Senior Research Fellow at the Mercatus Center, and Senior Fellow at the F. A. Hayek Program for Advanced Study in Philosophy, Politics and Economics at George Mason University.

Peter J. Boettke

Peter Boettke is a University Professor of Economics and Philosophy at George Mason University, the BB&T Professor for the Study of Capitalism, and the Director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at GMU.

Donald J. Boudreaux

Donald J. Boudreaux is a professor of economics at George Mason University.

Jerry Brito

Jerry Brito is a senior research fellow at the Mercatus Center and directs the Technology Policy Program. His primary research interests are technology and telecommunications policy, government transparency and accountability, and the regulatory process.

Bryan Caplan

Bryan Caplan is a professor at George Mason University and senior scholar at the Mercatus Center. His primary research interests are public economics, public choice, psychology and economics, public opinion, economics of the family, genoeconomics, and Austrian economics.

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Videos

Anthony Sanders Discusses Housing Recovery

Anthony B. Sanders | February 22, 2013

Veronique de Rugy on FOX to discuss the French Work Ethic and Entitlement

Veronique de Rugy | February 26, 2013

Podcasts

Gina Keating on netflix

Jerry Brito | May 21, 2013

Gina Keating, author of Netflixed: The Epic Battle for America’s Eyeballs, discusses the startup of Netflix and their competition with Blockbuster. Keating begins with the history of the company and their innovative improvements to the movie rental experience. She discusses their use of new technology and marketing strategies in DVD rental, which inspired Blockbuster to adapt to the changing market. Keating goes on to describe Netflix’s transition to internet streaming and Blockbuster’s attempts to retain their market share.

Download the MP3

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Recent Events

A Panel Discussion: Dr. Israel M. Kirzner’s contributions to Market Process Theory and Entrepreneurship Studies.

Distinguished NYU Professor Emeritus Israel M. Kirzner will be honored on February 7, 2013 with a Lifetime Achievement Award from the Fund for the Study of Spontaneous Order for his pioneering work on the theory of the entrepreneurial market process.

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Books

Competition & Entrepreneurship: The Collected Works of Israel M. Kirzner

Peter J. Boettke, Frederic Sautet | Apr 01, 2013

First published in 1973, Competition and Entrepreneurship defined Israel M. Kirzner’s unique contribution to the economics profession. This volume, in print without interruption since the date of its first publication, provides a thorough critique of contemporary price theory, an essay on the theory of entrepreneurship, and an essay on the theory of competition, offering a new appraisal of quality competition, of selling effort, and of the fundamental weaknesses of contemporary welfare economics.

The Economic Situation, December 2012 Bruce Yandle \| Dec 05, 2012 As 2012 comes to an end, how is the great American bread machine faring? Are we about to move from the pale-growth doldrums and shift into passing gear? Or will 2013 bring more of the same?	Economic Analysis By Federal Financial Regulators Hester Peirce \| Oct 23, 2012 This paper will describe just how little high-quality economic analysis the federal financial regulators charged with implementing Dodd-Frank and regulating the financial markets are doing.[3] Although each regulator has a unique approach to economic analysis, all of their approaches fall short of the standard to which executive agencies are held. More fundamentally, the federal financial regulators are depriving themselves of analysis essential to the proper exercise of their rulemaking functions.
The Case for Nominal GDP Targeting Scott Sumner \| Oct 23, 2012 The history of central banking is a story of one failure after another. This does not mean our actual monetary regimes have been the worst of all possible regimes—far from it. But it does mean we can improve policy by learn- ing from experience. Every proposed reform is a response to a previous failure, an implicit display of lessons learned.	Uncreative Destruction: The Misguided War on Vertical Integration in the Information Economy Adam Thierer, Brent Skorup \| Oct 16, 2012 We argue that the antitrust harms Columbia Law Professor Tim Wu fears are not present, and we highlight scholarship on the accepted benefits of vertically integrated firms. We show that Wu's remedies are policy preferences wrapped in the language of competition law. In fact, the information economy is largely competitive and does not warrant interventionist regulatory enforcement. Since much of American economic vitality flows from the information economy and technology, policymakers should reject a radical antitrust remedy like Wu’s preemptive Separations Principle.
The Economic Situation, October 2012 Bruce Yandle \| Oct 09, 2012 This special Mercatus Center edition of my Economic Situation report focuses on what I call the stumbling U.S. economy. In the report, I seek to explain how and why the economy is performing so poorly. I do this by assessing some of the economy’s major features. The first assessment involves an examination of the economy’s uneven pulse beat, best seen in GDP growth data. I then turn to state unemployment and state GDP growth data and present another picture of uneven growth. After discussing federal budgets and deficits, I turn to labor markets and then to an assessment of the Federal Reserve Board’s efforts to stimulate the economy using quantitative easing. I conclude this special report with a brief review of what has happened to income distribution and a short summary of what I expect we will see across the rest of 2012 and in 2013.	Medicaid Reform and Emergency Room Visits: Evidence from West Virginia's Medicaid Redesign , Tami Gurley-Calvez, Genevieve M. Kenney, Kosali Simon and Douglas Wissoker \| Oct 02, 2012 We use an innovative redesign of West Virginia’s Medicaid that took place from 2007 to 2010 to estimate the causal impact of incentives within Medicaid to encourage better health and health care behaviors and reduce emergency room (ER) visits.

Assessing the Department of Energy Loan Guarantee Program Veronique de Rugy \| Jun 19, 2012 For obvious reasons, more than any other recent events, the waste of taxpayers’ money due to Solyndra’s failure has attracted much attention. However, the problems with loan guarantees are much more fundamental than the cost of one or more failed projects.	Comment on OMB's Draft 2012 Report to Congress on the Benefits and Costs of Federal Regulations Richard Williams \| Jun 11, 2012 The Office of Management and Budget (OMB) has requested comment on the 2012 Draft Report to Congress on the Benefits and Costs of Federal Regulations and Unfunded Mandates on State, Local and Tribal Entities (hereafter referred to as “the OMB report”). This comment has been produced by Richard A. Williams, Ph.D., of the Mercatus Center at George Mason University, an education, research, and outreach organization that works with scholars, policy experts, and government officials to bridge academic theory and real-world practice.
Addressing Concerns About the Integrity of the U.S. Department of Labor's Jobs Reporting Keith Hall \| Jun 06, 2012 For BLS to effectively disseminate data directly to the public and maintain credibility as an independent, objective provider of data, DOL should not interfere with BLS’ dissemination of economic data through any means.	Oversight of the Federal Housing Administration's Reverse Mortgage Program for Seniors Anthony B. Sanders \| May 09, 2012 A reverse mortgage for seniors is a reasonable idea, but should not be guaranteed by the Federal government. It is an ownership decision and the Federal government must stop trying to micromanage this decision, particularly since there is an easy alternative that does not require government guarantees.
HARP's Uncharted Waters Anthony B. Sanders \| Apr 25, 2012 Let us be wary of creating another Jurassic Park policy change. We are in unchartered waters for housing finance and Federal Reserve policies and any further changes should be enacted with extreme caution.	Measuring the Costs and Benefits of New Rules J. W. Verret \| Apr 17, 2012 After a careful review of the legislative requirements that the SEC consider investor protection, efficiency, competition and capital formation in adopting new rules, I would like to simply offer a list of six items that would demonstrate a sincere commitment by the SEC to fulfill its statutory mission. The first five I will list are in fact required by law if one carefully reads the legislative and judicial history of the SEC’s mandate to consider the economic impact of new rules.

The Myth of "Deregulation" in Air Transportation Kenneth Button \| May 17, 2012 A new Mercatus Center study looks at the evolution and outcomes of government regulations in air transportation since the 1978 law was enacted.	Can Washington 'Fix' America's Obesity Problem? Fat Chance Michael L. Marlow, Sherzod Abdukadirov \| Mar 01, 2012 Obesity is not the result of market failure. Americans do not lack the knowledge, rationale, or motivation to improve their health. Thus, pursuing regulations intended for a market failure will not solve the problem.
Blueprint for Regulatory Reform: First, Lay the Cornerstone Richard Williams, Sherzod Abdukadirov \| Feb 07, 2012 The United States’ regulatory system long has failed to consistently produce efficient, cost-effective regulations that deliver promised benefits. For decades, presidents and Congresses have attempted to fix the regulatory system through a series of statutes and executive orders aimed at increasing transparency and improving analysis. Yet the pattern of poor regulatory choices persists, suggesting the problems are not political but deeply embedded in the institutions themselves.	"Fixing" the Tax Code: Key Principles for Successful Reform \| Feb 01, 2012 The most basic goal of tax policy is to raise enough revenue to meet the government’s spending requirements with the least impact on market behavior. The United States’ tax code has long failed to meet this aim: by severely distorting market decisions and the allocation of resources, it impedes both potential economic growth and potential tax revenue.
Fixing the Corporate Income Tax \| Nov 2011 A new working paper, “Why the United States Needs to Restructure the Corporate Income Tax,” by Mercatus Center at George Mason University senior scholar Jason Fichtner suggests successful reform of the U.S. corporate tax code must address its fundamental problems: 1) the uncompetitive corporate income tax rate; and 2) the outdated “worldwide” system for corporate tax collection.	The Impact of Regulation on Investment and the U.S. Economy Richard Williams \| Jan 11, 2011 In this research summary, Richard Williams discusses how regulations affect investment and jobs.

Economics for Yesterday, Today and Tomorrow Peter J. Boettke \| Apr 12, 2010 Professor Peter J. Boettke's remarks upon receiving the 2010 Adam Smith Award from the Association of Private Enterprise Education.	The Battle of Ideas: Economics and the Struggle for a Better World Peter J. Boettke \| Aug 07, 2007 This paper is Peter J. Boettke's speech at the twelfth Sir Ronald Trotter Lecture in New Zealand. Sir Ronald Trotter was the first chairman of the New Zealand Business Roundtable, who was knighted in…
Frederic Sautet on Voice of America Frederic Sautet \| Jun 09, 2005 Frederic Sautet on Voice of America…	The Formal, the Informal and the Three Entrepreneurs Frederic Sautet \| Nov 19, 2004 On October 19, 2004, Mercatus Center Senior Fellow Frederic Sautet delivered a presentation on institutions and entrepreneurship to the New Zealand Business Roundtable (NZBR). This talk was part of…
Hayek Memorial Lecture Peter J. Boettke \| Oct 27, 2004 Is there a unique Austrian School of Economics that represents a viable research program in modern economics? Peter Boettke locates the intellectual position and opportunities for mutually beneficial…	Iraq: Physical and Political Security: Toward an Exit Strategy \| Nov 10, 2003 From the conference "America's Role as Nation Builder: Lessons Learned and Applied to Iraq." Discussion in this session revolved around concerns of nation building experts and practitioners.

Why Is There No Milton Friedman Today? Econ Journal Watch By Daniel Klein, Tyler Cowen, John Blundell, David R. Henderson, David Colander, Richard Epstein, James Galbraith, J. Daniel Hammond, Daniel Houser, Steven Medema, Sam Peltzman, Richard Posner \| May 21, 2013 Imagine that someone with all the endowments of a Milton Friedman were born in the 1960s or 1970s. Is it conceivable that such a person would develop into a ‘Milton Friedman’ like we know the actual Friedman to have been, including his academic eminence and his eloquent and influential advocacy of classical liberalism? Here leading economists address the question: Why is there no Milton Friedman today?	A Profession With an Egalitarian Core The New York Times By Tyler Cowen \| Mar 18, 2013 Economics is sometimes associated with the study and defense of selfishness and material inequality, but it has an egalitarian and civil libertarian core that should be celebrated. And that core may guide us in some surprising directions.
Silence Golden for Market Economy Pittsburgh Tribune-Review By Donald J. Boudreaux \| Feb 13, 2013 One of the market economy's greatest flaws is the silence it maintains when it is working relatively flawlessly. When the market stumbles, though — or when it's tripped up by unwise government interventions — a great clamor is heard. Unemployment rises, stock prices and exchange rates plummet, and tales abound of this hardship and that lost dream. Pundits proclaim loudly that the unreliable market must be “corrected” or “tamed” by the wisdom and prudence of politicians.	The Fiscal Cliff: The Worst of Both Worlds Reason By Charles Blahous \| Dec 11, 2012 Without legislative action, millions of Americans’ tax bills will suddenly rise and federal spending will be suddenly cut. Many economists believe that allowing all this to happen simultaneously will have severe adverse economic effects, possibly plunging the nation back into recession.
Solve the Fiscal Cliff With a Spending Cap U.S. News and World Report By Antony Davies \| Nov 13, 2012 The election is over and Hurricane Sandy has passed, just in time for us to careen over the edge of the so-called "fiscal cliff." More important than the fact that we stand at the edge of the cliff is how we got here in the first place. Rather than addressing our fiscal problems, Washington's strategy has long been to kick them far enough down the road so as not to interfere with upcoming elections. The scary part is that every time we do this, the cliff gets steeper.	FEMA Doesn't Have Local Knowledge Needed for Effective Relief U.S. News and World Report Debate Club By Steven Horwitz \| Nov 01, 2012 The mistakes made by FEMA during its response to Hurricane Katrina are the stuff of legend. It failed to get to the worst hit areas for days, it was unprepared for the scope of the disaster, and many of the trailers it provided for temporary housing were later found to be toxic. It is hard to identify anything it did right in New Orleans and the Gulf Coast. Local politicians were merciless in their criticisms, even to the point of—rightly—praising the job done by Walmart in getting supplies to the New Orleans area and crediting Walmart's response with preventing looting and other problems in their towns.