On November 8th and 9th at the University of Chicago’s downtown Gleacher Center, the Cato Institute, the American libertarian think tank, hosted the “Cato University on Campus” seminar. The two-day event focused on libertarian policy and ideas, partially in the context of the presidential election days prior. The event provided a unique opportunity for the roughly 40-50 attendees to network and explore libertarian economic and political philosophy through discussions led by prominent thinkers. While many attendees, mostly undergraduates, came from local universities, with UChicago students unsurprisingly having a dominant presence, there was representation from students nationwide. The fact that several participants flew in specifically for the event underscored its perceived value.
The seminar started on Friday evening with a welcome reception, where attendees mingled with invited speakers over wine and hors d’oeuvres. This relaxed setting offered a valuable opportunity to connect with peers and professionals, exchange political and socioeconomic ideas, and engage speakers on topics beyond the scope of the formal seminar. The following day’s programming featured a series of policy panel discussions, many partially framed within the context of the incoming Trump administration.
The first event was headed by Bryan Caplan, a professor of economics at George Mason University, who presented a case for radical deregulation in construction and immigration. Caplan argued that reducing housing restrictions and adopting open-border policies would improve social mobility, raise living standards, and drive significant economic growth. Next, Romina Boccia, director of budget and entitlement policy at Cato, and Adam Michel, director of tax policy studies at Cato, addressed the consequences of the United States’ ballooning national debt. They emphasized the urgent need for entitlement reform, specifically in programs like Social Security and Medicare, which they argued are unsustainable in their current forms. Both also rejected the idea that raising taxes on the wealthy is a viable solution, contending that, beyond simply being unfair, such measures would hinder rather than help economic growth.
During a lunch break, Mark Calabria, former chief economist to Vice President Mike Pence, shared insights from his time shaping economic policy during the first Trump administration. He also offered his thoughts on some economic policies of Trump’s upcoming administration, such as how he believes that the threat of tariffs can be used as a highly effective bargaining tool. Lastly, housing affordability took center stage in a panel discussion moderated by Rachel Ferguson, a professor of business ethics at Concordia University Chicago. Panelists Josh Bandoch, head of policy at the Illinois Policy Institute, and M. Nolan Gray, an urban planning expert, discussed practical solutions to the housing crisis. They advocated for reducing local zoning restrictions, streamlining building permits, and encouraging the adoption of YIMBY (“Yes in My Backyard”) attitudes to support expansionary development policies.
The event concluded with a keynote address from UChicago’s Luigi Zingales, a distinguished professor at the Booth School of Business. In a lively and humorous interview-style discussion with Mark Calabria, Zingales shared his journey into academia and public policy. For attendees aspiring to similar careers in economics or policymaking, his story undoubtedly resonated. Before leaving, attendees were treated to a generous array of free books on libertarian philosophy, free-market capitalism, and some Cato-branded merchandise. They also received a small reimbursement for travel expenses, reflecting Cato’s dedication to encouraging student involvement and nurturing the next generation of libertarian leaders.