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New Research on Protectionism, CON Laws in Alaska and Florida, and FedNow

Summary:
New Protectionism: Still Protectionism and Bad Economics Veronique de Rugy | Policy Brief Senior research fellow Veronique de Rugy’s latest research explores the era of “new protectionism,” exposing unfounded trade fears that have resulted in misguided policy prescriptions. She points to lessons from the past that should guide policy for the future, including examples from the US as well as the recent booming economies of East Asian countries. A misunderstanding of history and economics has created policies hostile to free trade. Putting so-called “fair trade” on a pedestal neglects the fallacies of  this approach and overlooks the many benefits of embracing comparative advantage. De Rugy points out the problems with tariffs, subsidies and quotas and concludes that historical trends show

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New Protectionism: Still Protectionism and Bad Economics

Veronique de Rugy | Policy Brief

Senior research fellow Veronique de Rugy’s latest research explores the era of “new protectionism,” exposing unfounded trade fears that have resulted in misguided policy prescriptions. She points to lessons from the past that should guide policy for the future, including examples from the US as well as the recent booming economies of East Asian countries. A misunderstanding of history and economics has created policies hostile to free trade. Putting so-called “fair trade” on a pedestal neglects the fallacies of  this approach and overlooks the many benefits of embracing comparative advantage. De Rugy points out the problems with tariffs, subsidies and quotas and concludes that historical trends show overall prosperity is directly correlated with free trade. 

Alaska’s CON Law and Florida’s CON Law

Matthew D. Mitchell | Testimony

This year, senior research fellow Matthew Mitchell testified before the Health Market Reform Subcommittee of the Florida House of Representatives, presenting research that shows the pitfalls of “certificate of need” (CON) laws that regulate healthcare in Florida. Shortly thereafter, he also testified before the Health and Social Services Committee of the Alaska State Senate on healthcare and CON laws’ failures to meet state goals of cost reduction. 

FedNow Portends a More Competitive and Resilient Payments System

Thomas Hoenig | Public Comment

Senior research fellow Thomas Hoenig recently made a public comment to the Board of Governors of the Federal Reserve System on FedNow and the facilitation of an effective payments system. He remarked on the significance of payments settlement systems in modernizing the payments and financial systems. He believes the Fed could produce a system of robust competition and resilience in payment systems that would directly benefit the public. This innovation would create new opportunities to explore and provide next-generation financial services.

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