Unintended Consequences
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Afghanistan, Again? Unlearned Lessons of America’s Longest War
Congress rejected constitutional alternatives in favor of remaking a nation. Abroad, as at home, lawmakers cannot manufacture preferred social outcomes simply by spending more money.
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AI Consciousness Could Become a Regulatory Moat
Incumbent AI firms may benefit from a regulatory regime in which machine consciousness is considered plausible but remains impossible to prove or disprove.
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Can Other States Learn From California’s Property Tax Experiment?
Capping property taxes isn’t all upside, but California’s Proposition 13 shows how tax limits can protect property owners from sudden increases and provide greater predictability.
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Why Apartments in Tokyo Are So Much Cheaper Than in NYC
Tokyo houses millions more people than New York, with a surprisingly simple affordability formula: let people build more housing.
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Good Intentions Paved the Road to the 2008 Financial Crisis
The financial crisis demonstrated how regulations can produce dangerous incentives — and how discretionary intervention can magnify uncertainty. Eighteen years later, policymakers remain tempted by both.
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The Fed’s Mortgage Policy Made Homeownership Cost More
The Fed’s mortgage-market policy rewarded existing homeowners, but raised the price of entry for first-time and future buyers.
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Twenty-Five Years After 9/11, Fear Is Testing Freedom Again
America answered the terror of 9/11 by making every citizen more visible to the state. Will our genuine fears of AI be used to erode liberty and privacy even further?
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When Government Separates Choices from Consequences
From tariffs to “free” public services, government policies routinely transfer the costs and consequences of individual choices onto someone else.
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Admissions Standards Ration Scarce Resources
Mismatching students and institutions can hurt the very students such policies intend to help — while squandering scarce faculty talent on remedial math.
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Univ. of Michigan’s Hidden Grades Will Backfire on Students
Hiding student grades may sound compassionate, but it will weaken an important signal of merit and push employers toward less transparent ways of sorting applicants.
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Afghanistan, Again? Unlearned Lessons of America’s Longest War
Congress rejected constitutional alternatives in favor of remaking a nation. Abroad, as at home, lawmakers cannot manufacture preferred social outcomes simply by spending more money.
-
•
AI Consciousness Could Become a Regulatory Moat
Incumbent AI firms may benefit from a regulatory regime in which machine consciousness is considered plausible but remains impossible to prove or disprove.
-
•
Can Other States Learn From California’s Property Tax Experiment?
Capping property taxes isn’t all upside, but California’s Proposition 13 shows how tax limits can protect property owners from sudden increases and provide greater predictability.
-
•
Why Apartments in Tokyo Are So Much Cheaper Than in NYC
Tokyo houses millions more people than New York, with a surprisingly simple affordability formula: let people build more housing.
-
•
Good Intentions Paved the Road to the 2008 Financial Crisis
The financial crisis demonstrated how regulations can produce dangerous incentives — and how discretionary intervention can magnify uncertainty. Eighteen years later, policymakers remain tempted by both.
-
•
The Fed’s Mortgage Policy Made Homeownership Cost More
The Fed’s mortgage-market policy rewarded existing homeowners, but raised the price of entry for first-time and future buyers.
-
•
Twenty-Five Years After 9/11, Fear Is Testing Freedom Again
America answered the terror of 9/11 by making every citizen more visible to the state. Will our genuine fears of AI be used to erode liberty and privacy even further?
-
•
When Government Separates Choices from Consequences
From tariffs to “free” public services, government policies routinely transfer the costs and consequences of individual choices onto someone else.
-
•
Admissions Standards Ration Scarce Resources
Mismatching students and institutions can hurt the very students such policies intend to help — while squandering scarce faculty talent on remedial math.
-
•
Univ. of Michigan’s Hidden Grades Will Backfire on Students
Hiding student grades may sound compassionate, but it will weaken an important signal of merit and push employers toward less transparent ways of sorting applicants.