The financing corporation, government-sponsored enterprises, and moral hazard

Article Abstract:

The nation's bond markets are secure in the belief that the federal government will support the debt of any private enterprise it has established. This long-standing belief creates a moral risk whereby all federal-sponsored businesses are relieved of bond-market discipline, and this raises significant issues of about the cost and inefficiency of implicit federal backing. This situation is exemplified in the case of the Federal Savings and Loan Insurance Corp, which is analyzed along with the public policy questions raised by its resolution.

Finance, Government business enterprises, Public enterprises, Loans, Government ownership, Nationalization, Government guaranteed loans

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Government and recycling: are we promoting waste?

Article Abstract:

The municipal solid waste disposal problem is a political problem, an indication of a defective local government decision making process, and not one of ecological and economic issue that requires major business and household behavioral changes, encouraged by governmental programs and incentives. The country's huge recycling program, maintained and broadened by subsidies, taxes and government operation, is intrinsically wasteful, and is not an answer to the solid waste issue.

Analysis, Economic aspects, Recycling (Waste, etc.), Recycling, Domestic policy

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