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This week, Congress will debate whether Detroit's Big Three automakers -- General Motors, Ford Motor and Chrysler LLC -- will be next in line for a federal bailout. The automakers are asking for about $25 billion in loans to help them survive until 2010. Cato scholars have long been critical of government intervention in the financial markets, and likewise argue that an auto bailout is a bad idea.
As policymakers confront the ongoing U.S. financial crisis, it is important to take a step back and understand its origins. Those who fault "deregulation," "unfettered capitalism," or "greed" would do well to look instead at flawed institutions and misguided policies. In "How Did We Get into This Financial Mess?," Cato scholar Lawrence H. White argues that the actual causes of our financial troubles were unusual monetary policy moves and novel federal regulatory interventions.
In recent years, self-styled "network neutrality" activists have pushed for legislation to prevent network owners from undermining the end-to end principle. Although the concern is understandable, such legislation would be premature. In "The Durable Internet: Preserving Network Neutrality without Regulation," Cato scholar Timothy B. Lee argues that regulations are unnecessary because even in the absence of robust broadband competition, network owners are likely to find deviations from the end-to-end principle unprofitable.
Global Tax Revolution
In the increasingly integrated global economy, nations are waging a battle between governments to attract investment and skilled workers by overhauling their tax codes to create a more attractive business environment. The authors challenge the U.S. government to lead the tax competition battle in the international marketplace.
New Frontiers in Free Trade
"Razeen Sally's restatement of the case for unilateral liberalization is powerful and could not be timelier. His reflections on the prospects for trade policy are lucid and entirely persuasive. This short book is the best and most important volume on trade in years."
––CLIVE CROOK, Columnist, Financial Times
The price goes down on the book explaining what brought down the Republicans
A scathing look at how the rise of conservatives who believed big government could be used to further the conservative cause ultimately undermined the legacy of traditional conservatives and shattered the Republican revolution. Now available for $15.
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