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621. A Critique of the National Popular Vote

Author:
John Samples
Publication Date:
10-2008
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
The National Popular Vote plan (NPV), introduced in more than 40 states, and adopted by 4, proposes an interstate compact to bring about direct election of the president of the United States. The proposal eliminates states as electoral districts in presidential elections by creating a national electoral district for the presidential election, thereby advancing a national political identity for the United States. States with small populations and states that are competitive may benefit from the electoral college. Few states clearly benefit from direct election of the president. NPV brings about this change without amending the Constitution, there by undermining the legitimacy of presidential elections. It also weakens federalism by eliminating the role of the states in presidential contests. NPV nationalizes disputed outcomes and cannot offer any certainty that states will not withdraw from the compact when the results of an election become known. NPV will encourage presidential campaigns to focus their efforts in dense media markets where costs per vote are lowest; many states now ignored by candidates will continue to be ignored under NPV. For these reasons, states should not join the National Popular Vote compact.
Topic:
Politics and Political Theory
Political Geography:
United States

622. Two Kinds of Change: Comparing the Candidates on Foreign Policy

Author:
Justin Logan
Publication Date:
10-2008
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
Few U.S. presidential elections have been decided on the basis of foreign policy. For the first time in decades, however, both parties have fielded candidates who have chosen to emphasize their foreign policy views.
Topic:
Foreign Policy and Politics
Political Geography:
United States

623. Fiscal Policy Report Card on America's Governors: 2008

Author:
Chris Edwards
Publication Date:
10-2008
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
Revenue poured into state governments as the U.S. economy expanded between 2003 and 2007, prompting the nation's governors to expand state budgets and offer the occasional tax cut. But now that the economy has slowed and revenue growth is down, governors are taking various actions to close rising budget deficits.
Topic:
Government
Political Geography:
United States

624. High-Speed Rail: The Wrong Road for America

Author:
Randal O'Toole
Publication Date:
10-2008
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
In the face of high energy prices and concerns about global warming, environmentalists and planners offer high-speed rail as an environmentally friendly alternative to driving and air travel. California, Florida, the Midwest, and other parts of the country are actively considering specific high-speed rail plans.
Topic:
Development and Environment
Political Geography:
United States, California, and Florida

625. The Durable Internet: Preserving Network Neutrality without Regulation

Author:
Timothy B. Lee
Publication Date:
11-2008
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
An important reason for the Internet's remarkable growth over the last quarter century is the “end-to-end” principle that networks should confine themselves to transmitting generic packets without worrying about their contents. Not only has this made deployment of Internet infrastructure cheap and efficient, but it has created fertile ground for entrepreneurship. On a network that respects the end-to-end principle, prior approval from network owners is not needed to launch new applications, services, or content.
Topic:
Government and Science and Technology
Political Geography:
United States

626. A Federal Renewable Electricity Requirement

Author:
Robert J. Michaels
Publication Date:
11-2008
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
Rising energy prices and climate change have changed both the economics and politics of electricity. In response, over half the states have enacted “renewable portfolio standards” (RPS) that require utilities to obtain some power from “renewable” generation resources rather than carbon-emitting fossil fuels. Reports of state-level success have brought proposals for a national standard. Like several predecessor Congresses, however, the most recent one failed to pass RPS legislation.
Topic:
Climate Change, Energy Policy, and Environment
Political Geography:
Europe

627. The Case against Government Intervention in Energy Markets

Author:
Richard L. Gordon
Publication Date:
12-2008
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
Many politicians and pundits are panicked over the existing state of the oil and gasoline markets. Disregarding past experience, these parties advocate massive intervention in those markets, which would only serve to repeat and extend previous errors. These interventionists propose solutions to nonexistent problems.
Topic:
Energy Policy, Government, and Markets
Political Geography:
United States

628. Unbearable Burden? Living and Paying Student Loans as a First-Year Teacher

Author:
Neal McCluskey
Publication Date:
12-2008
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
It is widely believed that starting public school teacher salaries are too low, and student loan burdens are too high. If true, we could be facing a situation in which recent college graduates cannot afford to go into teaching because they will be unable to repay their college debts. Public policies are already being formulated on the basis of that conclusion.
Topic:
Economics and Education

629. Greenspan's Monetary Policy in Retrospect

Author:
David R. Henderson and Jeffrey Hummel
Publication Date:
11-2008
Content Type:
Policy Brief
Institution:
The Cato Institute
Abstract:
Is Alan Greenspan to blame for the current housing bubble and the ongoing financial crisis? A growing chorus charges the former Federal Reserve chairman with being an "inflationist" whose loose monetary policy caused or significantly contributed to our current economic troubles. However, although Greenspan's policies weren't perfect, his monetary policy was in fact tight, and his legacy is one of having overseen low and stable inflation and a striking dampening of the business cycle.
Topic:
Economics
Political Geography:
United States

630. How Did We Get into This Financial Mess?

Author:
Lawrence H. White
Publication Date:
11-2008
Content Type:
Policy Brief
Institution:
The Cato Institute
Abstract:
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. The expansion in risky mortgages to under qualified borrowers was encouraged by the federal government. The growth of "creative" nonprime lending followed Congress's strengthening of the Community Reinvestment Act, the Federal Housing Administration's loosening of down-payment standards, and the Department of Housing and Urban Development's pressuring lenders to extend mortgages to borrowers who previously would not have qualified.
Topic:
Economics and Government
Political Geography:
United States