What can a man with a plain name who lived over 200 years ago tell us about life today? Who was The Real Adam Smith? And why should we care? In a new two-hour, two-part documentary currently airing on PBS stations – check your local listings! – Swedish author and Cato Institute Senior Fellow Johan Norberg explores Adam Smith’s life, his ideas about morality and economics, and how the concepts he discussed in his books and lectures are still relevant today.

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Although trade barriers have been reduced considerably since the end of the World War II, U.S. policy continues to reflect an intolerable amount of protectionism, including tariffs assessed on approximately one-third of all U.S. imports. In a new bulletin, Cato scholar Daniel J. Ikenson argues that eliminating—or at least reducing—those burdens should be a congressional priority because duties raise the cost of production, reduce investment and hiring, dissuade foreign companies from establishing operations in the United States, and encourage existing producers to relocate to countries where the burdens are less onerous.

• “Beyond the American Manufacturing Competitiveness Act: Congress Should Get More Serious about Tariff Reform,” by Daniel J. Ikenson

Every imaginable product and service has a price, and yet there is something different about pricing prescription medicines. In the new issue of Regulation, Charles L. Hooper and David R. Henderson say that to “fix” drug pricing, we need more competition, more cost sharing, and the liberalization of some regulations. Also in this issue, Larry Downes describes how rent-seeking and public choice have put a telecom deregulation success story at risk, and Jason Scott Johnston looks at the social cost of carbon – how is it derived and how is it used to justify America’s climate policy?

• Spring 2016 Issue of Regulation