Can the US Hold China Responsible for the Pandemic?

Miller shows that, as in commercial markets, victims of monopoly power in politics pay higher prices and get less in return. He details how political markets resist being organized competitively and thus not performing as well as commercial markets, and explains how this lack of competition is caused by political incumbents rigging political markets to protect themselves.

The Hoover Institution hosted its annual Board of Overseers’ summer meeting during July 9–11, 2013.

The program began on Tuesday evening with before-dinner remarks by Paul D. Clement, a partner at Bancroft PLLC. Clement served as the forty-third solicitor general of the United States from June 2005 until June 2008. He has argued more than sixty-five cases before the US Supreme Court. During Clement’s speech, titled “Federalism in the Roberts Court,” he talked about the revitalization of federalism in the Rehnquist court “imposing some limits on the federal government’s power vis-a-vis the states.”

What if I told you that a prominent global political figure in recent months has proposed: abrogating key features of his government's contracts with energy companies; unilaterally renegotiating his country's international economic treaties; dramatically raising marginal tax rates on the "rich" to levels not seen in his country in three decades (which would make them among the highest in the world); and changing his country's social insurance system into explicit welfare by severing the link between taxes and benefits?...