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Aftermath

The Unintended Consequences of Public Policies
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When government imposes new taxes, rules, or regulations, it creates outcomes that often differ from the original intent. In some cases, these outcomes are so severe that they render the policy a failure. The law of unintended consequences has taken on an increasing importance during the era of ever-expanding government, and this book explores four important examples: cigarette taxes, alcohol prohibition, the minimum wage, and federal income tax. Thomas E. Hall examines how the policies came into being, what underlying political considerations influenced the process, the unintended outcomes of the policies, and why many of these policies are still in place. Because many of these unintended consequences are seriously adverse, the author argues that the moral of these four key examples is that whenever a new government policy is being considered, much more detailed review must be given to the range of potential unintended consequences-a practice that is rarely or accurately undertaken.
Thomas E. Hall is a Professor of Economics at Miami University in Oxford, Ohio where he teaches classes on macroeconomics, business cycles, and the Great Depression. He received his BA from the University of Colorado, and his MA and PhD degrees from the University of California - Santa Barbara. He has written several articles in applied macroeconomics, and authored Business Cycles: The Nature and Causes of Economic Fluctuations; The Great Depression: An International Disaster of Perverse Economic Policies (with J.D. Ferguson); The Rotten Fruits of Economic Controls and the Rise From the Ashes, 1965-1989.
Contents Preface 1. Introduction2. Federal Incomes Taxes: Fundingthe Welfare State 3. Cigarettes: Creating CrimeThrough Taxes 4. The Minimum Wage: PromotingTeenage Unemployment 5. The Fruits of AlcoholProhibition: Poison Booze, Crime, and Corruption 6. Be Careful What You Wish For Notes References Index Normal 0 false false false EN-US X-NONE X-NONE
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