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The '''Mercatus Center''' at [[George Mason University]] is an American non-profit [[free-market]]-oriented research, education, and outreach [[think tank]] directed by [[Tyler Cowen]]. It works with policy experts, [[lobbyist]]s, and government officials to connect academic learning and real-world practice. |
The '''Mercatus Center''' at [[George Mason University]] is an American non-profit [[free-market]]-oriented research, education, and outreach [[think tank]] directed by [[Tyler Cowen]]. It works with policy experts, [[lobbyist]]s, and government officials to connect academic learning and real-world practice. Taking its name from the Latin word for "market", the Center advocates free-market approaches to public policy. During the [[George W. Bush]] administration's campaign to reduce government regulation, the ''[[Wall Street Journal]]'' reported, "14 of the 23 rules the White House chose for its "hit list" to eliminate or modify were Mercatus entries."<ref>Bob Davis, "[https://online.wsj.com/news/articles/SB108994396555065646 In Washington, Tiny Think Tank Wields Big Stick on Regulation]," July 16, 2004. Accessed July 9, 2014.</ref> |
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According to the ''2017 Global Go To [[Think Tank]] Index Report'' ([[Think Tanks and Civil Societies Program]], [[University of Pennsylvania]]), Mercatus is number 39 (of 90) in the "Top Think Tanks in the United States" and number 18 (of 90) of the "Best University Affiliated Think Tanks".<ref name="Global Go To">{{cite web|url=https://repository.upenn.edu/cgi/viewcontent.cgi?article=1012&context=think_tanks|title=2017 Global Go To Think Tank Index Report|author=McGann|first=James|date=January 31, 2018|website=|accessdate=|quote=}} </ref> Some critics have noted the center's association with the [[Koch family|Koch brothers]]<ref name="mayer2010" /><ref name=":0" /><ref name=":1" /> and its founder [[Richard Fink]], headed the [[Koch Industries]]’ lobbying in Washington as of 2010.<ref name="mayer2010" /> |
According to the ''2017 Global Go To [[Think Tank]] Index Report'' ([[Think Tanks and Civil Societies Program]], [[University of Pennsylvania]]), Mercatus is number 39 (of 90) in the "Top Think Tanks in the United States" and number 18 (of 90) of the "Best University Affiliated Think Tanks".<ref name="Global Go To">{{cite web|url=https://repository.upenn.edu/cgi/viewcontent.cgi?article=1012&context=think_tanks|title=2017 Global Go To Think Tank Index Report|author=McGann|first=James|date=January 31, 2018|website=|accessdate=|quote=}} </ref> Some critics have noted the center's association with the [[Koch family|Koch brothers]]<ref name="mayer2010" /><ref name=":0" /><ref name=":1">{{Cite news|url=http://conservativetransparency.org/org/mercatus-center/|title=Conservative Transparency: Mercatus Center|work=Conservative Transparency|access-date=2017-04-13|language=en-US}}</ref> and its founder [[Richard Fink]], headed the [[Koch Industries]]’ lobbying in Washington as of 2010.<ref name="mayer2010" /> |
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==History== |
==History== |
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The Mercatus Center was founded by [[Richard H. Fink|Rich Fink]] as the Center for the Study of Market Processes at [[Rutgers University]]. After the Koch family gave more than $30 million to George Mason University,<ref name="mayer2010"/> the Center moved there in the mid-1980s. It took its current name in 1999.<ref name="mayer2010">{{cite news | first = Jane | last = Mayer | title = Covert Operations: The billionaire brothers who are waging a war against Obama. | date = 2010-08-30 | publisher = [[Condé Nast Publications]] | url = http://www.newyorker.com/reporting/2010/08/30/100830fa_fact_mayer?currentPage=all | work = [[The New Yorker]]}}</ref> |
The Mercatus Center was founded by [[Richard H. Fink|Rich Fink]] as the Center for the Study of Market Processes at [[Rutgers University]]. After the Koch family gave more than $30 million to George Mason University,<ref name="mayer2010"/> the Center moved there in the mid-1980s. It took its current name in 1999.<ref name="mayer2010">{{cite news | first = Jane | last = Mayer | title = Covert Operations: The billionaire brothers who are waging a war against Obama. | date = 2010-08-30 | publisher = [[Condé Nast Publications]] | url = http://www.newyorker.com/reporting/2010/08/30/100830fa_fact_mayer?currentPage=all | work = [[The New Yorker]]}}</ref> |
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The Mercatus Center is a [[501(c)]] |
The Mercatus Center is a [[501(c)(3) organization|501(c)(3)]] non-profit and does not receive support from George Mason University or any federal, state or local governments. It is entirely funded through donations, including corporate donations from [[Koch Industries]]<ref name=":0">{{Cite web|url=https://www.publicintegrity.org/2004/07/15/5967/kochs-low-profile-belies-political-power|title=Koch's low profile belies political power|date=2004-07-15|website=Center for Public Integrity|access-date=2017-04-13}}</ref><ref name="Kamen">{{cite news|url=https://www.washingtonpost.com/wp-dyn/content/article/2006/07/11/AR2006071101155.html|title=I Am OMB and I Write the Rules|last=Kamen|first=Al|date=July 12, 2006|work=Washington Post|page=A13}}</ref> (it received over $9 million from the [[Charles G. Koch Charitable Foundation]] between 1985 and 2014 according to the Conservative Transparency project<ref name=":1" /><ref>{{Cite web|url=https://www.desmogblog.com/mercatus-center|title=Mercatus Center, George Mason University|last=|first=|date=|website=desmog|access-date=}}</ref>) and at least $330,000 from [[ExxonMobil]] between 1998 to 2016 according to the ExxonMobil annual "Worldwide Giving Reports".<ref>[http://www.exxonsecrets.org/html/orgfactsheet.php?id=109 Exxon secrets Database]</ref>{{better source|date=July 2016}} In 2017, 63% of its funding came from foundations, 36% from individuals, and 1% from businesses.[https://www.mercatus.org/about] |
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==Mission== |
==Mission== |
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The organization describes itself as "the |
The organization describes itself as "the world's premier university source for market-oriented ideas" and says it aims to bridge "the gap between academic ideas and real-world problems."<ref name="mayer2010"/> By advancing knowledge about how markets can work to improve lives and individual freedoms, by training graduate students, conducting research, and applying economic principles, they hope to offer solutions to society's most pressing problems. |
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Mercatus currently runs the following research programs: The Project for the Study of American Capitalism; Technology Policy Project; State and Local Policy Project; Spending and Budget Initiative; Program on the American Economy and Globalization; Program on Monetary Policy; Program on Financial Regulation; and Program for Economic Research on Regulation.<ref>{{Cite news|url=https://www.mercatus.org/programs|title=Programs|work=Mercatus Center|access-date=2018-04-09|language=en}}</ref> |
Mercatus currently runs the following research programs: The Project for the Study of American Capitalism; Technology Policy Project; State and Local Policy Project; Spending and Budget Initiative; Program on the American Economy and Globalization; Program on Monetary Policy; Program on Financial Regulation; and Program for Economic Research on Regulation.<ref>{{Cite news|url=https://www.mercatus.org/programs|title=Programs|work=Mercatus Center|access-date=2018-04-09|language=en}}</ref> |
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===Media/political comments=== |
===Media/political comments=== |
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Rob Stein, |
Rob Stein, a Democratic strategist, has called Mercatus "ground zero for [[deregulation]] policy in Washington," and "an institution that the Kochs practically control."<ref name="mayer2010"/> The ''[[Wall Street Journal]]'' has called the Mercatus Center "the most important think tank you've never heard of."<ref name="mayer2010"/> [[Lee Fang]], an investigative journalist, described Mercatus as a "Koch-funded academic center".<ref>{{Cite news|url=https://thinkprogress.org/from-promoting-acid-rain-to-climate-denial-over-20-years-of-david-kochs-polluter-front-groups-7dc5afedfe09|title=From Promoting Acid Rain To Climate Denial: Over 20 Years Of David Koch’s Polluter Front Groups|date=2010-04-01|work=ThinkProgress|access-date=2017-04-13}}</ref> |
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==Activities== |
==Activities== |
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In 2018, Mercatus [https://www.mercatus.org/features/mercatus-announces-futures-market-forecast-nominal-gdp announced] that it "sponsored the development of a futures market based on [nominal gross domestic product] contracts with Hypermind, a UK-based prediction market." As explained in the |
In 2018, Mercatus [https://www.mercatus.org/features/mercatus-announces-futures-market-forecast-nominal-gdp announced] that it "sponsored the development of a [[Futures exchange|futures market]] based on [nominal gross domestic product] contracts with Hypermind, a UK-based [[prediction market]]." As explained in the announcement: "Mercatus Center's [[Scott Sumner]] and David Beckworth have made the case that an alternative [[monetary policy]] approach, ''[[Nominal income target|nominal gross domestic product (NGDP) level targeting]]'', is superior to [[inflation targeting]]. NGDP is essentially the nation's total income. According to Sumner and Beckworth, instead of targeting inflation (general prices), the [[Federal Reserve System|Federal Reserve]]'s monetary policy should target the rate at which the nation's total income is expected to grow. NGDP level targeting will ensure that the right amount of money supply is provided to meet the economy's needs."<ref>{{Cite news|url=https://www.mercatus.org/features/mercatus-announces-futures-market-forecast-nominal-gdp|title=Mercatus Announces Futures Market to Forecast Nominal GDP|date=2017-09-19|work=Mercatus Center|access-date=2018-04-09|language=en}}</ref> |
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In 2016, Mercatus launched its Program on the American Economy and Globalization,<ref>{{Cite web|url=http://cafehayek.com/2016/05/program-on-the-american-economy-and-globalization.html|title=Program on the American Economy and Globalization - Cafe Hayek|website=cafehayek.com|language=en-US|access-date=2018-04-09}}</ref> run by [[Daniel T. Griswold|Daniel Griswold]], which aims to help "the public and policymakers understand the benefits of an economy free from protectionist barriers against the international movement of goods, services, capital, ideas, and people."<ref>{{Cite news|url=https://www.mercatus.org/programs|title=Programs|work=Mercatus Center|access-date=2018-04-09|language=en}}</ref> |
In 2016, Mercatus launched its Program on the American Economy and Globalization,<ref>{{Cite web|url=http://cafehayek.com/2016/05/program-on-the-american-economy-and-globalization.html|title=Program on the American Economy and Globalization - Cafe Hayek|website=cafehayek.com|language=en-US|access-date=2018-04-09}}</ref> run by [[Daniel T. Griswold|Daniel Griswold]], which aims to help "the public and policymakers understand the benefits of an economy free from [[Protectionism|protectionist]] barriers against the international movement of goods, services, capital, ideas, and people."<ref>{{Cite news|url=https://www.mercatus.org/programs|title=Programs|work=Mercatus Center|access-date=2018-04-09|language=en}}</ref> |
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In 2015, Mercatus launched its annual Ranking of the 50 States by Fiscal Conditions.<ref>{{Cite news|url=https://www.mercatus.org/statefiscalrankings-2015-edition|title=Ranking the States by Fiscal Condition|date=2015-06-29|work=Mercatus Center|access-date=2018-04-09|language=en}}</ref> |
In 2015, Mercatus launched its annual Ranking of the 50 States by Fiscal Conditions.<ref>{{Cite news|url=https://www.mercatus.org/statefiscalrankings-2015-edition|title=Ranking the States by Fiscal Condition|date=2015-06-29|work=Mercatus Center|access-date=2018-04-09|language=en}}</ref> |
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Also in 2015, Mercatus started its Program on Monetary Policy.<ref>{{Cite news|url=https://mises.org/wire/mercatus-centers-new-program-monetary-policy|title=Mercatus Center's New Program on Monetary Policy {{!}} Joseph T. Salerno|last=Joe|date=2015-01-15|work=Mises Institute|access-date=2018-04-09|language=en}}</ref> |
Also in 2015, Mercatus started its Program on Monetary Policy.<ref>{{Cite news|url=https://mises.org/wire/mercatus-centers-new-program-monetary-policy|title=Mercatus Center's New Program on Monetary Policy {{!}} Joseph T. Salerno|last=Joe|date=2015-01-15|work=Mises Institute|access-date=2018-04-09|language=en}}</ref> |
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In 2012, Mercatus scholar [[Charles Blahous]] released a study saying that the [[Patient Protection and Affordable Care Act]] (PPACA) would worsen the federal deficit, contrary to the official [[Congressional Budget Office]] forecast.<ref name="washpo">{{cite news|last=Montgomery|first=Lori|title=Health-care law will add $340 billion to deficit, new study finds|url=https://www.washingtonpost.com/business/economy/health-care-law-will-add-340-billion-to-deficit-new-study-finds/2012/04/09/gIQAti1o6S_story.html?tid=pm_pop|accessdate=10 July 2012|newspaper=The Washington Post|date=10 April 2012}}</ref> The study was generally criticized by supporters of the PPACA.<ref>{{cite news|last=Klein|first=Ezra|title=The bizarre baseline games you need to play to make Obamacare increase the deficit|url=https://www.washingtonpost.com/blogs/ezra-klein/post/the-weird-baseline-obamacares-opponents-are-using/2012/04/10/gIQAu3de8S_blog.html|accessdate=10 July 2012|work=The Washington Post|date=10 April 2012}}</ref><ref>{{cite web|last=Spross|first=Jeff|title=Charles Blahous’ Absurd ‘New Math’ In A Chart|url=http://thinkprogress.org/health/2012/04/11/462437/charles-balhous-absurd-new-math-in-a-chart/|accessdate=10 July 2012}}</ref> |
In 2012, Mercatus scholar [[Charles Blahous]] released a study saying that the [[Patient Protection and Affordable Care Act]] (PPACA) would worsen the federal deficit, contrary to the official [[Congressional Budget Office]] forecast.<ref name="washpo">{{cite news|last=Montgomery|first=Lori|title=Health-care law will add $340 billion to deficit, new study finds|url=https://www.washingtonpost.com/business/economy/health-care-law-will-add-340-billion-to-deficit-new-study-finds/2012/04/09/gIQAti1o6S_story.html?tid=pm_pop|accessdate=10 July 2012|newspaper=The Washington Post|date=10 April 2012}}</ref> The study was generally criticized by supporters of the PPACA.<ref>{{cite news|last=Klein|first=Ezra|title=The bizarre baseline games you need to play to make Obamacare increase the deficit|url=https://www.washingtonpost.com/blogs/ezra-klein/post/the-weird-baseline-obamacares-opponents-are-using/2012/04/10/gIQAu3de8S_blog.html|accessdate=10 July 2012|work=The Washington Post|date=10 April 2012}}</ref><ref>{{cite web|last=Spross|first=Jeff|title=Charles Blahous’ Absurd ‘New Math’ In A Chart|url=http://thinkprogress.org/health/2012/04/11/462437/charles-balhous-absurd-new-math-in-a-chart/|accessdate=10 July 2012}}</ref> [[Jeanne Lambrew]], deputy assistant to the president for health policy, wrote, "This new math fits the old pattern of mischaracterizations about the Affordable Care Act when official estimates show the health care law reduces the deficit."<ref>{{cite web|last=Lambrew|first=Jeanne|title=Official Sources Agree: The Affordable Care Act Reduces the Deficit|url=http://www.whitehouse.gov/blog/2012/04/09/official-sources-agree-affordable-care-act-reduces-deficit|work=The White House Blog|accessdate=10 July 2012}}</ref> Blahous defended the findings of his research.<ref>{{cite news|last=Blahous|first=Charles|title=Why Obamacare Expands the Deficit: Charles Blahous Rebuts His Critics|url=https://www.forbes.com/sites/aroy/2012/04/11/why-obamacare-expands-the-deficit-charles-blahous-rebuts-his-critics/|publisher=Forbes.com|accessdate=10 July 2012|date=11 April 2012}}</ref> |
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In 2010, the Center collaborated with EconStories to produce a parody rap video about the conflict of ideas between [[F. A. Hayek]] and [[John Maynard Keynes]].<ref name="youtube.com">{{cite web|title="Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem |url=https://www.youtube.com/watch?v=d0nERTFo-Sk|accessdate=10 July 2012}}</ref> A sequel, "Fight of the Century", was produced in 2011.<ref name="http">{{cite web|title="Fight of the Century" Keynes vs Hayek Round 2|url=https://www.youtube.com/watch?v=GTQnarzmTOc&feature=fvwrel|accessdate=10 July 2012}}</ref> |
In 2010, the Center collaborated with EconStories to produce a parody rap video about the conflict of ideas between [[F. A. Hayek]] and [[John Maynard Keynes]].<ref name="youtube.com">{{cite web|title="Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem |url=https://www.youtube.com/watch?v=d0nERTFo-Sk|accessdate=10 July 2012}}</ref> A sequel, "Fight of the Century", was produced in 2011.<ref name="http">{{cite web|title="Fight of the Century" Keynes vs Hayek Round 2|url=https://www.youtube.com/watch?v=GTQnarzmTOc&feature=fvwrel|accessdate=10 July 2012}}</ref> |
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Scholars affiliated with the Mercatus Center have published hundreds of journal articles and research papers, with topics including [[Open government|government transparency]], [[Subsidy|subsidies]], taxation, regulation, corruption, and [[Austrian School]] economics. They have also provided more than 100 testimonies to Congress.<ref name="testimonies">{{Cite web|publisher=Mercatus Center |url=http://mercatus.org/all-publications/congressional-testimony |title=Publications – Congressional Testimony}}</ref> Notable studies performed and books published include: |
Scholars affiliated with the Mercatus Center have published hundreds of journal articles and research papers, with topics including [[Open government|government transparency]], [[Subsidy|subsidies]], taxation, regulation, corruption, and [[Austrian School]] economics. They have also provided more than 100 testimonies to Congress.<ref name="testimonies">{{Cite web|publisher=Mercatus Center |url=http://mercatus.org/all-publications/congressional-testimony |title=Publications – Congressional Testimony}}</ref> Notable studies performed and books published include: |
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* "[https://ppe.mercatus.org/publications/tyranny-comes-home Tyranny Comes Home]," published in 2018, |
* "[https://ppe.mercatus.org/publications/tyranny-comes-home Tyranny Comes Home]," published in 2018, assesses how, under certain conditions, U.S. policies, tactics, and technologies deployed abroad via military interventions "are re-imported to America, changing the national landscape and increasing the extent to which we live in a police state."<ref name=":2">{{Cite news|url=https://ppe.mercatus.org/publications/tyranny-comes-home|title=Tyranny Comes Home|date=2018-02-05|work=Mercatus Center: F. A. Hayek Program|access-date=2018-04-09|language=en}}</ref> The authors "examine this pattern―which they dub 'the boomerang effect'―considering a variety of rich cases that include the rise of state surveillance, the militarization of domestic law enforcement, the expanding use of drones, and torture in U.S. prisons."<ref name=":2" /> |
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* "[http://permissionlessinnovation.org/ Permissionless Innovation]," a book by scholar Adam Thierer, which argues that if |
* "[http://permissionlessinnovation.org/ Permissionless Innovation]," a book by scholar Adam Thierer, which argues that if "the [[precautionary principle]]," trumps "permissionless innovation" with regards to government's approach to technological innovation, then "the result will be fewer services, lower-quality goods, higher prices, diminished economic growth, and a decline in the overall standard of living."<ref>{{Cite news|url=http://permissionlessinnovation.org/what-is-permissionless-innovation/|title=What is Permissionless Innovation? - Permissionless Innovation|work=Permissionless Innovation|access-date=2018-04-09|language=en-US}}</ref> |
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* |
* "[https://www.mercatus.org/publication/how-are-small-banks-faring-under-dodd-frank How Are Small Banks Faring under Dodd-Frank?]," a 2015 survey of approximately 200 small U.S. banks serving mostly rural and small metropolitan markets. The survey "included questions about specific regulatory and compliance activities, interactions with regulators, effects of particular regulations, changes in fees and revenue, and business strategy decisions since the passage of [[Dodd–Frank Wall Street Reform and Consumer Protection Act|Dodd–Frank]]." |
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* "Annual Performance Report Scorecard" (2000–2009):<ref name="scorecard">{{Cite web|publisher=Mercatus Center |url=http://mercatus.org/all-publications/scorecard |title=Publications – Scorecard}}</ref> Produced by the Mercatus |
* "Annual Performance Report Scorecard" (2000–2009):<ref name="scorecard">{{Cite web|publisher=Mercatus Center |url=http://mercatus.org/all-publications/scorecard |title=Publications – Scorecard}}</ref> Produced by the Mercatus Center's Government Accountability Project, these publications assess the annual reports released by the 24 federal agencies covered by the [[Chief Financial Officers Act]]. The reports, required by the [[Government Performance and Results Act]] of 1993 are rated for their demonstration of "transparency, public benefits, and leadership."<ref name="transparency">{{Cite web|publisher=Mercatus Center |url=http://mercatus.org/publication/10th-annual-performance-report-scorecard-which-federal-agencies-best-inform-public| title=10th Annual Performance Report Scorecard: Which Federal Agencies Best Inform the Public?}}</ref> The most recent publication, covering the 2008 fiscal year, ranked the reports from Labor, Veterans Affairs, and Transportation departments as the best, and those from SBA, Defense, and HUD as the worst. Only 13 of the departments' reports received a "satisfactory" score in this 2009 publication, which notes that agencies "whose policy views were evaluated as more liberal ... seem to score slightly better."<ref name="transparency" /> |
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* [http://freedominthe50states.org "Freedom in the 50 States: An Index of Personal and Economic Freedom"] ranks states according to how well they meet the Center's ideals of personal and economic freedom. The 2011 rankings regarded New Hampshire, South Dakota, and Indiana as the freest, and New York, New Jersey, and California as the most restrictive.<ref name="state rankings">{{Cite web |publisher=Mercatus Center |url=http://mercatus.org/sites/all/modules/custom/mercatus_50_states/files/Freedom50States2011.pdf |title=Freedom in the 50 States: An index of personal and economic freedom |deadurl=yes |archiveurl=https://web.archive.org/web/20120118020350/http://mercatus.org/sites/all/modules/custom/mercatus_50_states/files/Freedom50States2011.pdf |archivedate=2012-01-18 |df= }}</ref> The 2013 rankings regarded North Dakota, South Dakota, and Tennessee as the freest, and New York, |
* [http://freedominthe50states.org "Freedom in the 50 States: An Index of Personal and Economic Freedom"] ranks states according to how well they meet the Center's ideals of personal and economic freedom. The 2011 rankings regarded New Hampshire, South Dakota, and Indiana as the freest, and New York, New Jersey, and California as the most restrictive.<ref name="state rankings">{{Cite web |publisher=Mercatus Center |url=http://mercatus.org/sites/all/modules/custom/mercatus_50_states/files/Freedom50States2011.pdf |title=Freedom in the 50 States: An index of personal and economic freedom |deadurl=yes |archiveurl=https://web.archive.org/web/20120118020350/http://mercatus.org/sites/all/modules/custom/mercatus_50_states/files/Freedom50States2011.pdf |archivedate=2012-01-18 |df= }}</ref> The 2013 rankings regarded North Dakota, South Dakota, and Tennessee as the freest, and New York, California, and New Jersey as the most restrictive.<ref name="state rankings 2013">{{Cite web|publisher=Mercatus Center |url=http://freedominthe50states.org/download/Freedom_50_States_2013_summary.pdf |title=Executive Summary, Freedom in the 50 States: Third Edition (2013)}}</ref> This index was later transferred to the [[Cato Institute]].<ref>{{Cite web|url=https://www.freedominthe50states.org/about|title=Freedom in the 50 States 2016 {{!}} About the Fourth Edition|website=www.freedominthe50states.org|access-date=2018-04-09}}</ref> |
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==Scholars== |
==Scholars== |
Revision as of 22:44, 21 May 2018
Founder | Richard H. Fink |
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Established | 1980 |
Director | Tyler Cowen |
Budget | Revenue: $23,977,583 Expenses: $19,205,513 (FYE August 2015)[1] |
Formerly called | Center for the Study of Market Processes |
Address | 3434 Washington Blvd., 4th Floor Arlington, Virginia 22201 |
Coordinates | 38°53′09″N 77°06′06″W / 38.8857°N 77.1018°W |
Website | www.mercatus.org |
The Mercatus Center at George Mason University is an American non-profit free-market-oriented research, education, and outreach think tank directed by Tyler Cowen. It works with policy experts, lobbyists, and government officials to connect academic learning and real-world practice. Taking its name from the Latin word for "market", the Center advocates free-market approaches to public policy. During the George W. Bush administration's campaign to reduce government regulation, the Wall Street Journal reported, "14 of the 23 rules the White House chose for its "hit list" to eliminate or modify were Mercatus entries."[2]
According to the 2017 Global Go To Think Tank Index Report (Think Tanks and Civil Societies Program, University of Pennsylvania), Mercatus is number 39 (of 90) in the "Top Think Tanks in the United States" and number 18 (of 90) of the "Best University Affiliated Think Tanks".[3] Some critics have noted the center's association with the Koch brothers[4][5][6] and its founder Richard Fink, headed the Koch Industries’ lobbying in Washington as of 2010.[4]
History
The Mercatus Center was founded by Rich Fink as the Center for the Study of Market Processes at Rutgers University. After the Koch family gave more than $30 million to George Mason University,[4] the Center moved there in the mid-1980s. It took its current name in 1999.[4]
The Mercatus Center is a 501(c)(3) non-profit and does not receive support from George Mason University or any federal, state or local governments. It is entirely funded through donations, including corporate donations from Koch Industries[5][7] (it received over $9 million from the Charles G. Koch Charitable Foundation between 1985 and 2014 according to the Conservative Transparency project[6][8]) and at least $330,000 from ExxonMobil between 1998 to 2016 according to the ExxonMobil annual "Worldwide Giving Reports".[9][better source needed] In 2017, 63% of its funding came from foundations, 36% from individuals, and 1% from businesses.[1]
Mission
The organization describes itself as "the world's premier university source for market-oriented ideas" and says it aims to bridge "the gap between academic ideas and real-world problems."[4] By advancing knowledge about how markets can work to improve lives and individual freedoms, by training graduate students, conducting research, and applying economic principles, they hope to offer solutions to society's most pressing problems.
Mercatus currently runs the following research programs: The Project for the Study of American Capitalism; Technology Policy Project; State and Local Policy Project; Spending and Budget Initiative; Program on the American Economy and Globalization; Program on Monetary Policy; Program on Financial Regulation; and Program for Economic Research on Regulation.[10]
Media/political comments
Rob Stein, a Democratic strategist, has called Mercatus "ground zero for deregulation policy in Washington," and "an institution that the Kochs practically control."[4] The Wall Street Journal has called the Mercatus Center "the most important think tank you've never heard of."[4] Lee Fang, an investigative journalist, described Mercatus as a "Koch-funded academic center".[11]
Activities
In 2018, Mercatus announced that it "sponsored the development of a futures market based on [nominal gross domestic product] contracts with Hypermind, a UK-based prediction market." As explained in the announcement: "Mercatus Center's Scott Sumner and David Beckworth have made the case that an alternative monetary policy approach, nominal gross domestic product (NGDP) level targeting, is superior to inflation targeting. NGDP is essentially the nation's total income. According to Sumner and Beckworth, instead of targeting inflation (general prices), the Federal Reserve's monetary policy should target the rate at which the nation's total income is expected to grow. NGDP level targeting will ensure that the right amount of money supply is provided to meet the economy's needs."[12]
In 2016, Mercatus launched its Program on the American Economy and Globalization,[13] run by Daniel Griswold, which aims to help "the public and policymakers understand the benefits of an economy free from protectionist barriers against the international movement of goods, services, capital, ideas, and people."[14]
In 2015, Mercatus launched its annual Ranking of the 50 States by Fiscal Conditions.[15]
Also in 2015, Mercatus started its Program on Monetary Policy.[16]
In 2012, Mercatus scholar Charles Blahous released a study saying that the Patient Protection and Affordable Care Act (PPACA) would worsen the federal deficit, contrary to the official Congressional Budget Office forecast.[17] The study was generally criticized by supporters of the PPACA.[18][19] Jeanne Lambrew, deputy assistant to the president for health policy, wrote, "This new math fits the old pattern of mischaracterizations about the Affordable Care Act when official estimates show the health care law reduces the deficit."[20] Blahous defended the findings of his research.[21]
In 2010, the Center collaborated with EconStories to produce a parody rap video about the conflict of ideas between F. A. Hayek and John Maynard Keynes.[22] A sequel, "Fight of the Century", was produced in 2011.[23]
In 2001, the Office of Management and Budget asked for public input on which regulations should be revised or killed. Mercatus submitted 44 of the 71 proposals the OMB received.[7]
Organizational structure
The Mercatus Center is located on George Mason University's Arlington Campus, and is affiliated with GMU's Economics department. The Provost of George Mason University has the power to appoint a faculty director to head the Mercatus Center.
Board of directors
Members of the Board of Directors include:[24]
- Frank Atkinson, Partner at McGuireWoods
- Donald J. Boudreaux, senior fellow with the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center
- Emily Chamlee-Wright, president and CEO of the Institute for Humane Studies
- Tyler Cowen, Professor of Economics at GMU
- Richard Fink, Executive Vice President of Koch Industries
- Brian Hooks, President of the Charles Koch Foundation
- Manuel H. Johnson, economist
- Charles G. Koch, co-owner, Chairman and CEO of Koch Industries
- Edwin Meese, 75th United States Attorney General (1985–1988)
- Vernon L. Smith, 2002 winner of the Nobel Memorial Prize in Economic Sciences
Publications
Scholars affiliated with the Mercatus Center have published hundreds of journal articles and research papers, with topics including government transparency, subsidies, taxation, regulation, corruption, and Austrian School economics. They have also provided more than 100 testimonies to Congress.[25] Notable studies performed and books published include:
- "Tyranny Comes Home," published in 2018, assesses how, under certain conditions, U.S. policies, tactics, and technologies deployed abroad via military interventions "are re-imported to America, changing the national landscape and increasing the extent to which we live in a police state."[26] The authors "examine this pattern―which they dub 'the boomerang effect'―considering a variety of rich cases that include the rise of state surveillance, the militarization of domestic law enforcement, the expanding use of drones, and torture in U.S. prisons."[26]
- "Permissionless Innovation," a book by scholar Adam Thierer, which argues that if "the precautionary principle," trumps "permissionless innovation" with regards to government's approach to technological innovation, then "the result will be fewer services, lower-quality goods, higher prices, diminished economic growth, and a decline in the overall standard of living."[27]
- "How Are Small Banks Faring under Dodd-Frank?," a 2015 survey of approximately 200 small U.S. banks serving mostly rural and small metropolitan markets. The survey "included questions about specific regulatory and compliance activities, interactions with regulators, effects of particular regulations, changes in fees and revenue, and business strategy decisions since the passage of Dodd–Frank."
- "Annual Performance Report Scorecard" (2000–2009):[28] Produced by the Mercatus Center's Government Accountability Project, these publications assess the annual reports released by the 24 federal agencies covered by the Chief Financial Officers Act. The reports, required by the Government Performance and Results Act of 1993 are rated for their demonstration of "transparency, public benefits, and leadership."[29] The most recent publication, covering the 2008 fiscal year, ranked the reports from Labor, Veterans Affairs, and Transportation departments as the best, and those from SBA, Defense, and HUD as the worst. Only 13 of the departments' reports received a "satisfactory" score in this 2009 publication, which notes that agencies "whose policy views were evaluated as more liberal ... seem to score slightly better."[29]
- "Freedom in the 50 States: An Index of Personal and Economic Freedom" ranks states according to how well they meet the Center's ideals of personal and economic freedom. The 2011 rankings regarded New Hampshire, South Dakota, and Indiana as the freest, and New York, New Jersey, and California as the most restrictive.[30] The 2013 rankings regarded North Dakota, South Dakota, and Tennessee as the freest, and New York, California, and New Jersey as the most restrictive.[31] This index was later transferred to the Cato Institute.[32]
Scholars
Notable scholars at Mercatus include:[33]
- Charles Blahous
- Peter Boettke
- Donald J. Boudreaux
- Bryan Caplan
- Tyler Cowen
- Christopher Coyne
- Veronique de Rugy
- Steven Horwitz
- Arnold Kling
- Peter Leeson
- Maurice McTigue
- Russ Roberts
- Scott Sumner
- Alex Tabarrok
- Lawrence H. White
- Bruce Yandle
- Todd Zywicki
Alumni
Notable former Mercatus scholars, students, and employees include:
- Brian Blase
- Jerry Brito
- Susan Dudley
- Hester Peirce
See also
References
- ^ "IRS Form 990 2015". GuideStar. Retrieved 18 July 2016.
- ^ Bob Davis, "In Washington, Tiny Think Tank Wields Big Stick on Regulation," July 16, 2004. Accessed July 9, 2014.
- ^ McGann, James (January 31, 2018). "2017 Global Go To Think Tank Index Report".
- ^ a b c d e f g Mayer, Jane (2010-08-30). "Covert Operations: The billionaire brothers who are waging a war against Obama". The New Yorker. Condé Nast Publications.
- ^ a b "Koch's low profile belies political power". Center for Public Integrity. 2004-07-15. Retrieved 2017-04-13.
- ^ a b "Conservative Transparency: Mercatus Center". Conservative Transparency. Retrieved 2017-04-13.
- ^ a b Kamen, Al (July 12, 2006). "I Am OMB and I Write the Rules". Washington Post. p. A13.
- ^ "Mercatus Center, George Mason University". desmog.
- ^ Exxon secrets Database
- ^ "Programs". Mercatus Center. Retrieved 2018-04-09.
- ^ "From Promoting Acid Rain To Climate Denial: Over 20 Years Of David Koch's Polluter Front Groups". ThinkProgress. 2010-04-01. Retrieved 2017-04-13.
- ^ "Mercatus Announces Futures Market to Forecast Nominal GDP". Mercatus Center. 2017-09-19. Retrieved 2018-04-09.
- ^ "Program on the American Economy and Globalization - Cafe Hayek". cafehayek.com. Retrieved 2018-04-09.
- ^ "Programs". Mercatus Center. Retrieved 2018-04-09.
- ^ "Ranking the States by Fiscal Condition". Mercatus Center. 2015-06-29. Retrieved 2018-04-09.
- ^ Joe (2015-01-15). "Mercatus Center's New Program on Monetary Policy | Joseph T. Salerno". Mises Institute. Retrieved 2018-04-09.
- ^ Montgomery, Lori (10 April 2012). "Health-care law will add $340 billion to deficit, new study finds". The Washington Post. Retrieved 10 July 2012.
- ^ Klein, Ezra (10 April 2012). "The bizarre baseline games you need to play to make Obamacare increase the deficit". The Washington Post. Retrieved 10 July 2012.
- ^ Spross, Jeff. "Charles Blahous' Absurd 'New Math' In A Chart". Retrieved 10 July 2012.
- ^ Lambrew, Jeanne. "Official Sources Agree: The Affordable Care Act Reduces the Deficit". The White House Blog. Retrieved 10 July 2012.
- ^ Blahous, Charles (11 April 2012). "Why Obamacare Expands the Deficit: Charles Blahous Rebuts His Critics". Forbes.com. Retrieved 10 July 2012.
- ^ ""Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem". Retrieved 10 July 2012.
- ^ ""Fight of the Century" Keynes vs Hayek Round 2". Retrieved 10 July 2012.
- ^ Mercatus Center Board of Directors
- ^ "Publications – Congressional Testimony". Mercatus Center.
- ^ a b "Tyranny Comes Home". Mercatus Center: F. A. Hayek Program. 2018-02-05. Retrieved 2018-04-09.
- ^ "What is Permissionless Innovation? - Permissionless Innovation". Permissionless Innovation. Retrieved 2018-04-09.
- ^ "Publications – Scorecard". Mercatus Center.
- ^ a b "10th Annual Performance Report Scorecard: Which Federal Agencies Best Inform the Public?". Mercatus Center.
- ^ "Freedom in the 50 States: An index of personal and economic freedom" (PDF). Mercatus Center. Archived from the original (PDF) on 2012-01-18.
{{cite web}}
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suggested) (help) - ^ "Executive Summary, Freedom in the 50 States: Third Edition (2013)" (PDF). Mercatus Center.
- ^ "Freedom in the 50 States 2016 | About the Fourth Edition". www.freedominthe50states.org. Retrieved 2018-04-09.
- ^ "All – Scholars | Mercatus". Mercatus Center at George Mason University. Retrieved 9 April 2018.
External links
- George Mason University
- Political and economic think tanks in the United States
- Libertarian think tanks
- Libertarian organizations based in the United States
- Rutgers University
- Koch family
- Organizations established in 1980
- 1980 establishments in New Jersey
- Non-profit organizations based in Arlington, Virginia