June 15, 2022

Liberalism for All — The Regressive Effects of Regulation

  • Jayme Lemke

    Senior Fellow, F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics
  • Diana Thomas

    Associate Professor of Economics, Creighton University

The Hayek Program Podcast includes audio from lectures, interviews, and discussions of scholars and visitors from the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University.

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On this episode of the Hayek Program Podcast, we continue a special summer series of the podcast on Liberalism for All, hosted by Jayme Lemke as she explores the underpinnings and outworkings of a free and open society. Driving the discussion is a set of core questions, including:

  • What does it mean to be liberal in the 21st century?
  • What is the relationship between liberalism and equality?
  • Is the pursuit of equality a threat or opportunity for the liberal project?

Joining Lemke for this episode is Diana Thomas, associate professor of economics at Creighton University and an alum of the Mercatus PhD Fellowship. Thomas begins by detailing what regressive effects are, followed by the manners in which regulations, even those with the best of intentions, tend to create such effects. Additionally, she tackles the issue of public risk reduction strategies, and how these can often end up crowding out private risk reduction strategies. As part of the conversation, Lemke and Thomas both discuss the push for equality, and whether this push is complementary or in tension with the vision of a liberal, free society.