This week on Uncommon Knowledge, author and former Senator James Buckley discusses the transformation of the federal government and the challenges we face after the 2012 election. (28:30)
“It is going to be an extraordinary challenge for [future generations] but there are certain realities that are going to be faced. If the debt goes off on the trajectory it is currently on, in terms of devastating, destroying the economic basis of the country my grandchildren are going to face problems that I never dreamed of and you never dreamed of. Nevertheless insofar as they pay any attention of any advice I might give them it would be you have responsibilities not only to yourself and your family but to the public.”
This week on Uncommon Knowledge, George Gilder, author of Wealth and Poverty, the book that became a best seller during the first year of the Reagan years and a guide to the Reagan administration itself, is now—just in time perhaps for the Romney years—available in a new edition. Gilder describes how Reagan’s near trillion-dollar bulge in defense spending transformed the global balance of power in favor of capitalism.
This week on Uncommon Knowledge, Hoover fellow and author Thomas Sowell discusses his essay “‘Trickle Down Theory’ and ‘Tax Cuts for the Rich.’” (39:52)
“Now anyone who studied history knows that for the first 150 years of this country the federal government did not intervene when the economy turned down. And all that time the downturns all corrected themselves; one of the most classic examples was under Warren G. Harding when, during his first year in office, he found the unemployment rate at 11.7 percent. He did absolutely nothing; he did not spend more government money, he cut back on spending. The Federal Reserve had the interest rates up at 6 or 7 percent, not down at 1 percent, where they are now. The next year unemployment was at 6.7 percent; the year after that it was 2.4 percent. So the economy has recuperative powers. I mean employers have an incentive to hire people. Workers have an incentive to get jobs. Lenders have incentives to lend.”
This week on Uncommon Knowledge columnist James Delingpole discusses, with Hoover research fellow Peter Robinson, the European Union, the Green movement, and socialized medicine. (47:41)
In this Uncommon Knowledge classic from February 10, 1999, Milton Friedman, recipient of the Nobel Prize in Economic Science in 1976 and a senior research fellow at the Hoover Institution from 1977 to 2006, discusses, with Hoover research fellow Peter Robinson, what defines a libertarian and how Friedman balances the libertarians' desire for a small, less intrusive government with environmental, public safety, food and drug administration, and other issues.
A fellow at the Hoover Institution and a professor of economics at New York University Stern School of Business, Michael Spence won the Nobel Prize in Economic Sciences in 2001. His latest book is The Next Convergence: The Future of Economic Growth in a Multi-Speed World.
In the last decade and a half, India and China have both engaged in extensive economic reforms, in effect bringing their joint population of some 2.3 billion into the worldwide system of capitalism and free trade. Those 2.3 billion people, many of whom are extremely well educated, are by and large willing to work harder and for less pay than are Americans. Are India and China's expanding and modernizing economies threatening America's long global dominance of science, technology, and industry? If so, what should we do about it? Peter Robinson speaks with Craig Barrett, Stephen Moore, and Peter A. Thiel.
Does outsourcing—whether it means the transfer of customer service and high-tech jobs to India or of manufacturing jobs to China—benefit the American economy or harm it? And if American workers are being harmed by outsourcing, what should be done about it? Do we need legislation to prevent corporations from sending jobs overseas? Or should we focus our attention on creating new opportunities for the American labor force through education and job training?