To Eliminate Underground Markets, Tax and Regulate Less
Blog: Cato at Liberty
Instead, policy should allow the entire market to move above ground by reducing costly and time‐consuming regulation.
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Blog: Cato at Liberty
Instead, policy should allow the entire market to move above ground by reducing costly and time‐consuming regulation.
Blog: Cato at Liberty
When prohibitions fail to suppress the thing they prohibit, they make no sense whatsoever. One alternative — "sin" taxation — has its own potential negatives, but in moderation is far more likely to move outcomes in desired directions, with fewer adverse effects.
Blog: Cato at Liberty
So absent strong evidence that school choice has non‐trivial negatives, shouldn't more choice be the default?
Blog: Cato at Liberty
What's the solution? Elimination of licenses. Short of elimination, states should recognize licenses issued by other states.
Blog: Cato at Liberty
Policymakers should heed the lessons from economic theory and real‐world evidence. Rent control, even in its more moderate forms, is a flawed tool that creates more problems than it solves.
Blog: Cato at Liberty
A key question, however, is whether nudges achieve their goals, and at what cost. On that score, the evidence is mixed.
Blog: Cato at Liberty
"This research supports the notion that governmental restrictions in the form of vaccination mandates can have unintended negative consequences, not necessarily by reducing uptake of the mandated vaccine, but by reducing adoption of other voluntary vaccines."
Blog: Cato at Liberty
Federal subsidy implies federal definition and control of higher education, which opens the door to thought control and political manipulation (e.g., via debt cancellation).
Blog: Cato at Liberty
The history of alcohol in the United States is a perfect illustration; violence in the alcohol trade was absent both before and after Prohibition, and accidental overdoses soared during Prohibition.
Blog: Cato at Liberty
And if Section 3 keeps a popular candidate off the ballot, that will likely increase polarization and resentment amongst the candidate's supporters, perhaps to the point of further, and worse, insurrection.
Blog: Cato at Liberty
Libertarians believe more legal immigration would benefit the United States, the sending countries, and the immigrants.
Blog: Cato at Liberty
Emissions taxes are likely the least bad way to reduce emissions. Exceptions are possible, but clean energy subsidies deserve careful scrutiny, even if political constraints make emissions taxes impossible. Sometimes doing nothing is better than the feasible alternatives.
Blog: Cato at Liberty
In Libertarian Land, government imposes few if any restrictions on starting a business, of any kind. That should apply to marijuana legalization.
Blog: Cato at Liberty
But the lesson from centuries of incorrect predictions about technological unemployment is that demand for human labor will continue.
Blog: Cato at Liberty
The Biden administration recently announced its intention to expand the border wall between Mexico and the United States; the goal is to limit illegal immigration. This effort will fail.