Manhattan Institute

How Risk Fuels a Healthy Economy

10 Blocks podcast

Allison Schrager joins Brian Anderson to discuss how risk propels economic growth and why government efforts that go too far to mitigate risk undermine America’s economic vitality.

“Risk, for better and worse,” writes Schrager for City Journal, “is at the heart of economic growth, and successfully apportioning it—not avoiding it—is the key to prosperity.” While government has a role to play in managing risk, the U.S. economy has thrived by trusting markets to allocate it efficiently. Overly intrusive efforts to reduce risk in the economy—such as California’s new law regulating freelance or “gig” work—may prove counterproductive to workers of all incomes.

Altro da Manhattan Institute

Manhattan Institute4 min letti
Failed Monetary Policy
The media are focused on fiscal policy failures—namely, the fight over a second Covid economic-relief bill. They should be paying much closer attention to monetary policy. The neglect is due to the long-running sense that, with interest rates down ne
Manhattan Institute6 min lettiPolitics
The Happiest Warrior
Bruce Herschensohn would hate what I’m about to do. He always lamented that Years of Lightning, Day of Drums—the acclaimed documentary he produced about the life and assassination of President John F. Kennedy—tended to get re-aired on the anniversary
Manhattan Institute5 min lettiMedical
Pandemic Penitents
In 1349, as the Black Death ravaged Europe, a new pandemic-control strategy was adopted in cities across the continent. The protocol was precisely regulated by the experts. Three times a day, for a total of exactly eight hours, hundreds of men known