Via Greg Mankiw, Bentley University professor Scott Sumner writes on efficient-markets hypothesis (EMH): So the anti-EMH argument for regulation must be based on the following: bankers are irrational and make lots of foolish loans. Regulators are rational and can see that these loans are too risky, and can protect bankers …
The recently enforced Consumer Products Safety Improvement Act created many unintended consequences for toy manufacturers and oddly enough, even for your local library, but most of which, blinded parents’ sense of caution when it comes to buying toys for their children. This regulation, which went into effect on February 10, …
In his weekly radio address, President-elect Barack Obama promised a national “Economic Recovery Plan that will mean 2.5 million more jobs by January of 2011.” One might think that would mean Obama had promised to create 2.5 million new jobs. But as the New York Times, Washington Post, Associated Press …
Earlier this week, The Heritage Foundation hosted Veteran journalist William Tucker, who recently released his book, “Terrestrial Energy: How Nuclear Power Will Lead the Green Revolution and End America’s Energy Odyssey.” The event is available for viewing here. Windmills, solar collectors and geothermal plants can make a small contribution at the …
This week “60 Minutes” highlighted an obscure statute that some say is at the root of the recent market meltdown: the Commodity Futures Modernization Act of 2000. The CFMA exempted certain derivatives from existing state and federal regulation. But “60 Minutes” failed to ask the most interesting question: Why was …
Barack Obama’s energy adviser Jason Grumet told Bloomberg last week that an Obama administration would not “insert political judgments to interrupt the recommendations of the scientific efforts.” His promise was made in reference to the Environmental Protection Agency’s impending decision on whether or not to regulate greenhouse gas emissions under …
The DC Examiner has a mostly wonderful editorial pointing out that the regulators missed the warning signs of the market crisis as much as the investment banks did. The Examiner properly concludes the question is not “more” or “less” regulation, but then wrongly implies there was no regulation “at all”. …
