"The purpose of a system is what it does."

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September 18, 2024

Welcome to The Lighthouse ([link removed]) , the weekly email newsletter of the Independent Institute covering politics, economics, current events, and everything in between.

“The purpose of a system is what it does.” If today’s politicians and policymakers have heard it said, they don’t seem to understand what it means.

That’s where we come in.

This week’s articles reveal the distance between intentions and consequences. Vice President Kamala Harris recently proposed giving first-time home buyers up to $25,000 toward their down payments. Randall Holcombe points out that this effort to increase demand will raise housing costs. In California, Josh Smith makes the case that the state is pursuing contradictory policies. On the one hand, there are lofty goals for green energy; on the other hand, regulations suffocate actual environmental improvements. Sticking with the theme of regulations, Ethan Yang covers the Kids Online Safety Act (KOSA), the controversial internet bill, and the FTC’s poor record on child safety issues. Lastly, Alvaro Vargas Llosa covers the situation in Venezuela, where the country’s recently contested election has sent opposition leader Edmundo González into exile.

Happy reading.

Jonathan Hofer
Managing Editor

Top picks this week
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** KOSA: Protecting Kids or Policing Speech? ([link removed])
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** Child Safety, Censorship, and the FTC ([link removed])
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** by Ethan Yang
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The bipartisan Kids Online Safety Act (KOSA) is making headlines and taking heat from civil liberties groups. Is the bill truly about protecting children online, or is it just another excuse for censorship?
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** VP Harris’ Proposal Will Increase Housing Prices ([link removed])
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** by Randall G. Holcombe
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On the campaign trail, Kamala Harris announced a down payment assistance housing proposal that purports to help first-time homebuyers, but it will surely drive up housing prices.
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** California’s Next “New Green Deal” Should Be Red Tape Reduction ([link removed])
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** by Josh T. Smith
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The Golden State’s green energy ambitions are being choked by excessive regulations, ironically by many environmental regulations like CEQA. Instead of relying on subsidies, the state should focus on cutting red tape to make green projects more affordable and efficient for market actors, boosting both the environment and the economy.
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** The Fight Goes on in Venezuela ([link removed])
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** by Alvaro Vargas Llosa
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After losing a crooked election against Maduro, Edmundo González has gone into exile in Spain. But hope is not lost, and González is not out for the count. Opposition leader María Corina Machado has reaffirmed her commitment to reforming Venezuela, and together, they represent the best hope for a post-Maduro Venezuela.
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** Yes We Can Cure the Healthcare Crisis! ([link removed])
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** Independent Conversations
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Since the passage of the Affordable Care Act, healthcare in America has not improved in the ways we were promised. In fact, inequalities in care have grown, and for many people, health coverage is worse. But the errors can still be reversed. John C. Goodman’s new book, Priceless: Curing the Healthcare Crisis, maps out a better way, one that frees patients, doctors, and employers from the regulatory traps and perverse incentives that hold everybody back.
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** Judy Shelton
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With clarity and moral courage, Judy Shelton has written a must-read for anyone invested in the future of the economy. You’ll walk away with more answers than questions—a rare experience for anyone who reads about monetary policy.
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