Monday , June 21 2021
Home / Scott Sumner /Ransom bleg

Ransom bleg

Summary:
I’m no expert on extortion, so I’d be interested in what other people think of the following proposed law: Any person found guilty of paying ransom in order to protect corporate assets shall serve a sentence of not less than 20 years in a federal prison. The proximate goal would be to stop US corporations from paying ransom. The ultimate goal would be to reduce attempts to extort ransom. Would such a law make sense?

Topics:
Scott Sumner considers the following as important: , , , , ,

This could be interesting, too:

Don Boudreaux writes Some Non-Covid Links

Bryan Caplan writes The Apologies of Repeal

Don Boudreaux writes Some Non-Covid Links

Walter Block writes Libel Laws Should All be Repealed

I’m no expert on extortion, so I’d be interested in what other people think of the following proposed law:

Any person found guilty of paying ransom in order to protect corporate assets shall serve a sentence of not less than 20 years in a federal prison.

The proximate goal would be to stop US corporations from paying ransom. The ultimate goal would be to reduce attempts to extort ransom.

Would such a law make sense?

Scott Sumner
Scott B. Sumner is Research Fellow at the Independent Institute, the Director of the Program on Monetary Policy at the Mercatus Center at George Mason University and an economist who teaches at Bentley University in Waltham, Massachusetts. His economics blog, The Money Illusion, popularized the idea of nominal GDP targeting, which says that the Fed should target nominal GDP—i.e., real GDP growth plus the rate of inflation—to better "induce the correct level of business investment". In May 2012, Chicago Fed President Charles L. Evans became the first sitting member of the Federal Open Market Committee (FOMC) to endorse the idea.

Leave a Reply

Your email address will not be published. Required fields are marked *