Artificial stripper bubble pops

Geoffrey Lawrence

In his recent article “Sorry, We’re Clothed,” Mises Institute President Doug French makes the case that the Las Vegas strip club market was artificially enhanced during the recent boom period through Fed injections of artificial money. Due to aggressive monetary expansion over the past 15 years, an excess amount of capital flowed into many industries and led to the creation of so-called “bubble” markets.

French lays the truth bare as he makes the case that the Las Vegas strip club market was one of the industries that enjoyed this type of unsustainable growth as inordinate amounts of capital fell onto the laps of strip club owners. As French shows, the necessary market correction that is the inevitable result of such unsustainable growth has led to a recent downturn in the strip club industry.

Geoffrey Lawrence

Geoffrey Lawrence

Director of Research

Geoffrey Lawrence is director of research at Nevada Policy.

Lawrence has broad experience as a financial executive in the public and private sectors and as a think tank analyst. Lawrence has been Chief Financial Officer of several growth-stage and publicly traded manufacturing companies and managed all financial reporting, internal control, and external compliance efforts with regulatory agencies including the U.S. Securities and Exchange Commission.  Lawrence has also served as the senior appointee to the Nevada State Controller’s Office, where he oversaw the state’s external financial reporting, covering nearly $10 billion in annual transactions. During each year of Lawrence’s tenure, the state received the Certificate of Achievement for Excellence in Financial Reporting Award from the Government Finance Officers’ Association.

From 2008 to 2014, Lawrence was director of research and legislative affairs at Nevada Policy and helped the institute develop its platform of ideas to advance and defend a free society.  Lawrence has also written for the Cato Institute and the Heritage Foundation, with particular expertise in state budgets and labor economics.  He was delighted at the opportunity to return to Nevada Policy in 2022 while concurrently serving as research director at the Reason Foundation.

Lawrence holds an M.A. in international economics from American University in Washington, D.C., an M.S. and a B.S. in accounting from Western Governors University, and a B.A. in international relations from the University of North Carolina at Pembroke.  He lives in Las Vegas with his beautiful wife, Jenna, and their two kids, Carson Hayek and Sage Aynne.