The article argues that the Federal Reserve's recent rate hike decision, while justifiable on inflation grounds, highlights a critical lack of an underlying, transparent policy framework. The core problem is that the Fed's decisions appear discretionary, leading to market uncertainty because the committee's judgment, rather than clear data, dictates policy shifts. The author proposes that the Fed adopt a formal monetary policy rule—an algebraic formula linking the target rate to indicators like inflation and unemployment—to replace subjective guidance. Implementing such a rule would provide market predictability, enhance transparency, and shield the Fed from political attacks by making deviations from the standard easily quantifiable.
Public Defender Shortages Suggest Rethinking Drug Criminalization
English Summary
Severe public defender shortages in states like Oregon highlight the urgent need to rethink drug criminalization to alleviate overburdened legal systems. The article points to the dismissal of 1,400 criminal cases as evidence that overcriminalization drains judicial resources and can inadvertently undermine public safety. It argues that successful models, such as Portugal’s, demonstrate that decriminalization is most effective when paired with robust treatment infrastructure and coordinated social services. Consequently, policymakers should prioritize scarce resources for crimes that cause direct harm while integrating health-based solutions for drug use.
中文摘要
俄勒岡州等州面臨嚴重的公設辯護人短缺，凸顯出重新思考藥物犯罪化政策以緩解司法系統沉重負擔的迫切性。文章指出，多達 1,400 起刑事案件遭到撤銷，足以證明過度犯罪化不僅耗盡司法資源，更可能在無意間損害公眾安全。文章主張，如葡萄牙等成功模式顯示，除罪化唯有在配合完善的治療基礎設施與協調的社會服務時才能發揮最大效用。因此，決策者應將稀缺資源優先投入處理具直接傷害性的犯罪，同時針對藥物使用問題整合以健康為基礎的解決方案。
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