Liberalism for All — The Regressive Effects of Regulation

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.