Yandle Redux

Yesterday I contra-posed Greg Mankiw’s view of stimulus spending against economic realities explained by Bruce Yandle. Last night I noticed this new video, from Reason.tv, in which Dr. Yandle explains in his own words the bootleggers and baptists theory, and talks about it in the context of other regulatory schemes.

The video shows both the depth and breadth of Dr. Yandle’s knowledge and insights, but also captures his gentle humility. It’s a privilege to work with him.