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Baptists and Bootleggers in the Organized Effort to Restrict the Use of Cash

Larry White/January 31, 2017June 19, 2022

In a classic account of why prohibitions and other economic restrictions harmful to consumers arise and persist, economist Bruce Yandle noted that such restrictions are often promoted by a coalition between two groups. The first group are morally motivated do-gooders (“Baptists”) who think that the restrictions will…

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