Regulation

THE PAST 25 YEARS HAVE SEEN AN explosion in trading activity and innovation in financial markets. In 1977, trading volume on the New York Stock Exchange averaged about 21 million shares per day; in 2001, volume averaged 1.24 billion shares per day...

A MAJOR ANNIVERSARY OF ANY INSTITUTION is an appropriate occasion to reflect on its role and accomplishments, and how much the world may have changed as a consequence. The Cato Institute celebrated its 25th anniversary with both sober reflection and...

THE PAST TWO DECADES HAVE SEEN A radical transformation of regulations controlling the size, location, and activities of U.S. banks. Included in those changes are state--level reforms of branching barriers, relaxation of deposit interest rate ceilings,...

AT THE TIME THAT THIS ARTICLE IS being written, in the spring of 2002, U.S. energy policy stands in fairly good state as compared to the heavy command-and-control policies that dominated the twentieth century. The largest and worst government interventions...

CONGRESS PASSED THE McCARRAN-Ferguson Act in 1945 in response to a U.S. Supreme Court decision that insurance transacted across state lines was interstate commerce and subject to federal antitrust law. The court decision challenged state insurance...

IF NEW SPENDING IS A REASONABLE MEASURE of the country's priorities, then few areas of domestic national policy have experienced as dramatic a decline in favor over the past 25 years as low-income housing. That is especially true of programs administered...

At the Cato Institute's 25th anniversary gala last May 9, P.J. O'Rourke offered some after-dinner comments on both the state of the institute and human liberty. We have chosen to reprint those comments for this issue's "Final Word." ED CRANE TOLD...