Hoover Daily Report

Hoover Daily Report
Featured Commentary
Featured Commentary

Tomorrow's National Security Landscape

by Amy Zegartvia Defining Ideas
Tuesday, May 26, 2015

There are four key areas of threat to which the United States should respond. 

Featured Commentary

Disasters At Home And Abroad

by Victor Davis Hansonvia National Review
Tuesday, May 26, 2015

Things are starting to collapse, abroad and at home. We all sense it, even as we bicker over who caused it and why. ISIS took Ramadi last week. That city once was a Bastogne to the brave Americans who surged to save it in 2007 and 2008. ISIS, once known at the White House as the “Jayvees,” were certainly “on the run” — right into the middle of that strategically important city.
 

Featured Commentary

Graduation Gifts

by Thomas Sowellvia Creators Syndicate
Tuesday, May 26, 2015

This is the season of college graduations, and many people may be wondering what kinds of gifts would be most appropriate for young people leaving the world of academia and heading out to face the challenges and opportunities of adulthood in the real world.

Featured Commentary

The Other Commerce Clause

by Richard A. Epsteinvia Defining Ideas
Monday, May 25, 2015

The Supreme Court should preserve the national market in goods and services.

Featured Commentary

Why Universal Basic Skills Should Be The Primary Development Goal

by Eric Hanushek, Ludger Woessmannvia The World Economic Forum
Tuesday, May 26, 2015

Later this year, the UN will set the post-2015 Sustainable Development Goals. These goals will follow on from the previous Millennium Development Goals. The plethora of targets that is likely to emerge will make it hard to use them either as policy levers for change or as a means of charting progress. Instead, because knowledge capital is of utmost importance for inclusive world development, the primary post-2015 development goal should be that all youth achieve at least basic skills. The boost to future prosperity would be immense.

Housing Image
Featured Commentary

Addressing California’s Housing Woes: “A Strategy For State Action” That Can’t Wait Another 30 Years

by Carol Galantevia Eureka
Tuesday, May 19, 2015

Serious students of California’s housing woes may recognize the middle part of this column’s headline. It’s also the subtitle of 101 Steps to Better Housing, The California Housing Plan 1982, a document now over three decades old. Produced by the California Department of Housing and Community Development (HCD), the publication proposes solutions for many issues the Golden State still struggles with today.

Featured Commentary

EPA's Dirty Little Secret: Its Regulation Prevents Effective Oil-Spill Cleanup

by Henry I. Millervia Forbes
Monday, May 25, 2015

Oil that leaked from a ruptured pipeline is fouling one of the most picturesque parts of California’s coastline. The company that operated the pipeline has a poor safety record, but with all the finger-pointing and commentary, nobody has mentioned the government’s dirty little secret: What could have been an effective high-tech method to clean up oil spills was killed by EPA regulators.

Global Austerity
Featured Commentary

Deficits vs. Austerity: New Facts, Same Old Keynesianism

by Niall Fergusonvia The Globe and Mail
Saturday, May 23, 2015

“If the facts change,” John Maynard Keynes is supposed to have said, “I change my opinion. What do you do, sir?” It is a question his latter-day disciples should be asking themselves today. Long before this month’s general election, which the Conservatives won by a margin that stunned their critics, the facts about Britain’s economic performance had indeed changed. Yet there is still no sign of the Keynesians changing their opinions.

Featured Commentary

Reflections On The Marshall Plan

by Henry A. Kissingervia Harvard Gazette
Friday, May 22, 2015

Henry Kissinger recalls when George C. Marshall, speaking at Harvard’s Commencement in 1947, extended America’s hand to a battered Europe, helping to create a stable postwar order.

Blogs
Blogs

A Reawakening Of Monetary Policy Research

by John B. Taylorvia Economics One
Sunday, May 24, 2015

Last May a group of economists, central bankers, market participants, and financial journalists convened at Stanford’s Hoover Institution “to put forth and discuss a set of policy recommendations that are consistent with and encourage a more rules-based policy for the Federal Reserve and would thus improve economic performance…”  Here’s the agenda, the published volume, and my summary.

Blogs

Bailout Barometer

by John H. Cochrane via Grumpy Economist
Tuesday, May 26, 2015

The Richmond Fed updated its "bailout barometer," at left. Post here and longer report here. (WSJ coverage here) I found the numbers and the table from the longer report interesting as well. Guaranteeing more than half of financial sector liabilities is impressive. But most of us don't know how large financial sector liabilities are. GDP is about $17 Trillion. $43 Trillion is a lot.

education
Blogs

Will States Tell Parents And Students The Truth About College Readiness?

by Chester E. Finn Jr.via Education Next
Tuesday, May 26, 2015

Amid way too much talk about testing and the Common Core, not enough attention is being paid to what parents will actually learn about their children’s achievement when results are finally released from the recent round of state assessments (most of which assert that they’re “aligned” with the Common Core).

Blogs

To Command Without Having Served

by Bill Whalenvia A Day At The Races
Monday, May 25, 2015

This Memorial Day found President Obama laying a wreath at the Tomb of the Unknown Soldier at Arlington Cemetery. As for the man or woman who’ll be doing this honor in 2017, there’s a question of a connection (or lack thereof) to the military. Hillary Clinton didn’t serve, though she once claimed that she considered joining the Marine Corps about 40 years ago.

Blogs

Henderson's Law Of Heroic Movies

by David R. Hendersonvia EconLog
Monday, May 25, 2015

Dan Klein, with whom I've been arguing about designer babies lately, recently suggested that I post about an article I wrote for Reason 26 years ago: Henderson's Law of Heroic Movies.

Blogs

Violence Or Morality: How Should We Think About Radicalization?

by Mark Harrisonvia Mark Harrison's Blog
Monday, May 25, 2015

Our society is worried about radicalization. What is radicalization? Apparently it is all about violence. According to the UK government's Prevent strategy (2011), "radicalisation is driven by an ideology which sanctions the use of violence." According to the more recent Tackling extremism in the UK (2013) "we must confront the poisonous extremist ideology that can lead people to violence."

Blogs

Homo Economicus Or Homo Paleas?

by John H. Cochrane via Grumpy Economist
Friday, May 22, 2015

Or at least that's how Google translate renders "straw man." Dick Thaler is in the news, with a long review of his book in the Wall Street Journal  and a thoughtful opinion piece in the New York Times, earning plaudits from Greg Mankiw no less. The pieces are nice reference points to think about just where psychological economics is. Bottom line: People do a lot of nutty things. But when you raise the price of tomatoes, they buy fewer tomatoes, just as if utility maximizers had walked into the grocery store.

Blogs

John Nash, RIP

by David R. Hendersonvia EconLog
Sunday, May 24, 2015

The famous game theorist John Nash and his wife Alicia were killed in a traffic accident yesterday in New Jersey. He was 86. I met him and had lunch with him when he came to speak at the Naval Postgraduate School in Monterey a few years ago.

Blogs

An Approach To Ameliorating Press-IC Tensions Over Classified Information

by Benjamin Wittesvia Lawfare
Friday, May 22, 2015

I’ve been thinking about the exchange over the past couple of weeks—much of which took place on Lawfare—between the New York Times and the intelligence community over the naming of CIA undercover officers in a Times story. (A brief recap in links: here are Bob Litt’s original comments, the 20 former intelligence officers’ letter, Jack’s interview with Dean Baquet, my comments in response, Mark Mazzetti’s comments, and Jack’s comments.)

Blogs

Should We Fear Progress?

by David R. Hendersonvia EconLog
Saturday, May 23, 2015

As I mentioned in a comment on Bryan Caplan's response to Dan Klein, the further I get away from Dan Klein's piece on "designer babies," the less persuaded I am. That glide path has continued. Virtually all of Dan Klein's objection was based on the idea of comparison with the past.

Blogs

The Portuguese Puzzle: Decriminalization Of Drugs And Drug Usage

by David R. Hendersonvia EconLog
Friday, May 22, 2015

In 2009, Glenn Greenwald wrote, for the Cato Institute, a study of the effects of drug decriminalization in Portugal. Among his findings were that drug usage actually decreased among various populations.

Other Media
Other Media

Bent Flyvbjerg On Megaprojects

by Russell Robertsvia EconTalk
Monday, May 25, 2015

Bent Flyvbjerg of Oxford University speaks with EconTalk host Russ Roberts about the political economy of megaprojects--massive investments of a billion dollars or more in infrastructure or technology. Flyvbjerg argues that such projects consistently end up costing more with smaller benefits than projected and almost always end up with costs that exceed the benefits. Flyvbjerg explores the reasons for the poor predictions and poor performance of giant investment projects and what might be done to improve their effectiveness.

Michael McFaul, the Peter and Helen Bing Senior Fellow at the Hoover Institution
Other Media

What's It Like To Be Hated By The Russian Internet?

featuring Michael McFaulvia The Guardian
Tuesday, May 26, 2015

Online abuse has got much worse since the annexation of Crimea: the Russian-language debates on Twitter are much more personal. Sometimes it’s just a few very unpleasant tweets. Sometimes it’s hundreds of Twitter messages saying the same thing, as if they are coordinated. Occasionally people send threatening tweets to me about my physical security, they even threaten my children. I’ve moved back to the US to teach at Stanford University and it’s only got worse.

Other Media

How To Recognize A Budding Entrepreneur

with William Damonvia The Wall Street Journal
Tuesday, May 26, 2015

What are the qualities that mark a young entrepreneur? It’s a question of immense interest to parents, educators and budding entrepreneurs themselves. All of them are on the lookout for the strengths that show someone is likely to launch a company when they get older. And all of them want to know what strengths to foster to provide prospective entrepreneurs with the best foundation for a career.

Other Media

Patriot Act Reauthorization: Implications And Politics

quoting Jack Goldsmithvia Epoch Times
Monday, May 25, 2015

"The successful sunset clauses in the surveillance context have not signaled to anyone that Congress lacks the resolve for aggressive U.S. surveillance past the sunset date…Similarly, a sunset on an [authorization for use of military force] will mean, and should signal, only that in our democracy it is prudent that Congress reconvene to assess and update the President’s authorities to use force every few years,”

Other Media

Pensions And Politics Fuel Crisis In Illinois

quoting Joshua D. Rauhvia The New York Times
Monday, May 25, 2015

Illinois is facing one of the worst fiscal crises of any state in recent decades, largely because it has mismanaged its pension system. The shortfalls could potentially mean sharply higher taxes and cuts in spending. And even though the state’s highest court just this month threw out a landmark plan to cut worker and retiree benefits, some lawmakers say they may have to find another way to make those reductions as well.

Other Media

Blinded By The Light

mentioning Kevin M. Warshvia Reuters
Friday, May 22, 2015

Kevin Warsh, one of the Federal Reserve's former governors, told a conference on May 21 that, in its meetings, policymakers deliver prepared remarks, for the minutes, and then look at smartphones while other colleagues read from their notes. Serious conversation is reserved for coffee breaks.

Carly Fiorina
Other Media

Carly Fiorina Impresses In Long-Shot Presidential Run

quoting Bill Whalenvia Sacramento Bee
Saturday, May 23, 2015

Likening Fiorina’s prospects to those of a Vermont senator who is also a long-shot candidate for president, Bill Whalen, a research fellow at Stanford University’s Hoover Institution joked, “She and Bernie Sanders look like a lock.” Failing in California might not cause a Republican to despair. The state is so heavily Democratic that no Republican could likely have defeated incumbent Sen. Barbara Boxer in 2010.

Other Media

How Student Debt Became A Presidential Campaign Issue

quoting Lanhee J. Chenvia The Washington Post
Sunday, May 24, 2015

“The answer to how to get people prepared for the jobs of this economy is not, let’s just throw free school at them,” he said. “The right response is, are we providing the proper avenues to ensure that students are getting access to the education they need to be productive members of the economy?”

Other Media

Extreme Education Makeover: Are The Aggressive Reforms In New Mexico A Model For Other States?

quoting Michael J. Petrillivia Desert News National
Sunday, May 24, 2015

With two weeks to go before New Mexico was set to administer its new standardized tests, Angel Mendez’s seventh-grade math classes at Truman Middle School here were taking an official practice exam online. The new tests from the Partnership for Assessment of Readiness for College and Careers (or PARCC, for short) are the first to be associated with the new higher standards of the Common Core and, unlike the past state exams, are being given on computer and with a time limit.

Interviews
John H. Cochrane
Interviews

John Cochrane On Bloomberg Media Update (1:55)

interview with John H. Cochrane via Bloomberg
Tuesday, May 26, 2015

Hoover fellow John Cochrane discusses Janet Yellen's, the Federal Reserve Chairman, speech. Cochrane notes that the Fed is waiting for labor markets to get stronger and Yellen is not going to fight inflation when there is not any inflation.

George Shultz, the Thomas W. and Susan B. Ford Distinguished Fellow at the Hoover Institution
Interviews

USIP 2015 Dean Acheson Lecture: George P. Shultz

featuring George P. Shultzvia United States Institute of Peace
Thursday, May 21, 2015

Hoover fellow George Shultz discusses the world awash in change and the lessons we can learn from the Cold War.

Paul Gregory
Interviews

Paul Gregory On The John Batchelor Show

interview with Paul R. Gregoryvia The John Batchelor Show
Friday, May 22, 2015

Hoover fellow Paul Gregory discusses his Forbes piece, “A Russian Crisis With No End In Sight, Thanks To Low Oil Prices And Sanctions.” Gregory notes that Russia’s fate depends on economic factors beyond its control (energy prices and gas markets) and on Putin’s continued international adventurism, which he is loath to abandon for fear of regime change. Putin can no longer keep his promise to the Russian people of prosperity and stability.

Henry I. Miller
Interviews

Henry I. Miller On The John Batchelor Show

interview with Henry I. Millervia The John Batchelor Show
Friday, May 22, 2015

Hoover fellow Henry Miller discusses his Defining Ideas piece, “Bureaucrats Battle Science.” Miller notes that regulatory incentives and disincentives are potent. The vastly inflated development costs caused by over-regulation are the primary reason that more than 99 percent of genetically engineered crops that are being cultivated are commodity crops grown at huge scale—corn, cotton, canola, soy, alfalfa, and sugar beets.

E.g., 6 / 26 / 2015
E.g., 6 / 26 / 2015
Rubik's Cube of national flags

Tuesday, May 26, 2015

Featured Commentary

by Amy Zegart Tuesday, May 26, 2015
article
by Victor Davis Hanson Tuesday, May 26, 2015
article
by Thomas Sowell Tuesday, May 26, 2015
article
by Richard A. Epstein Monday, May 25, 2015
article
by Eric Hanushek, Ludger Woessmann Tuesday, May 26, 2015
article
by Carol Galante Tuesday, May 19, 2015
article
by Henry I. Miller Monday, May 25, 2015
article
by Niall Ferguson Saturday, May 23, 2015
article
by Henry A. Kissinger Friday, May 22, 2015
article

Blogs

by John B. Taylor Sunday, May 24, 2015
article
by John H. Cochrane Tuesday, May 26, 2015
article
by Chester E. Finn Jr. Tuesday, May 26, 2015
article
by Bill Whalen Monday, May 25, 2015
article
by David R. Henderson Monday, May 25, 2015
article
by Mark Harrison Monday, May 25, 2015
article
by John H. Cochrane Friday, May 22, 2015
article
by David R. Henderson Sunday, May 24, 2015
article
by Benjamin Wittes Friday, May 22, 2015
article
by David R. Henderson Saturday, May 23, 2015
article
by David R. Henderson Friday, May 22, 2015
article

Other Media

by Russell Roberts Monday, May 25, 2015
podcast
featuring Michael McFaul Tuesday, May 26, 2015
article
with William Damon Tuesday, May 26, 2015
article
quoting Jack Goldsmith Monday, May 25, 2015
article
quoting Joshua D. Rauh Monday, May 25, 2015
article
mentioning Kevin M. Warsh Friday, May 22, 2015
article
quoting Bill Whalen Saturday, May 23, 2015
article
quoting Lanhee J. Chen Sunday, May 24, 2015
article
quoting Michael J. Petrilli Sunday, May 24, 2015
article

Interviews

interview with John H. Cochrane Tuesday, May 26, 2015
podcast
featuring George P. Shultz Thursday, May 21, 2015
video
interview with Paul R. Gregory Friday, May 22, 2015
podcast
interview with Henry I. Miller Friday, May 22, 2015
podcast
cartoon of the Hoover Tower as a beacon of light in the darkness

Thursday, May 21, 2015

Featured Commentary

by Michael Spence Wednesday, May 20, 2015
article
interview with Richard A. Epstein Wednesday, May 20, 2015
podcast
by Peter Berkowitz Thursday, May 21, 2015
article
by Victor Davis Hanson Wednesday, May 20, 2015
article
by Henry I. Miller Wednesday, May 20, 2015
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by Wendell Cox Tuesday, May 19, 2015
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by Carson Bruno Thursday, May 21, 2015
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by Elizabeth Cobbs Wednesday, May 20, 2015
article

Blogs

by Jack Goldsmith Thursday, May 21, 2015
article
by Bill Whalen Wednesday, May 20, 2015
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by Benjamin Wittes, Jodie Liu Thursday, May 21, 2015
article
by Benjamin Wittes Thursday, May 21, 2015
video

Other Media

featuring Kevin M. Warsh Thursday, May 21, 2015
article
quoting Bill Whalen, Carson Bruno Wednesday, May 20, 2015
article
quoting Thomas J. Sargent Wednesday, May 20, 2015
article
quoting Michael McFaul Wednesday, May 20, 2015
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quoting Kori Schake Thursday, May 21, 2015
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mentioning Hoover Institution Thursday, May 21, 2015
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Interviews

interview with Samuel Tadros Wednesday, May 20, 2015
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John H. Cochrane
Interviews

John Cochrane On Bloomberg Media Update (1:55)

interview with John H. Cochrane via Bloomberg
Tuesday, May 26, 2015

Hoover fellow John Cochrane discusses Janet Yellen's, the Federal Reserve Chairman, speech. Cochrane notes that the Fed is waiting for labor markets to get stronger and Yellen is not going to fight inflation when there is not any inflation.

Other Media

How To Recognize A Budding Entrepreneur

with William Damonvia The Wall Street Journal
Tuesday, May 26, 2015

What are the qualities that mark a young entrepreneur? It’s a question of immense interest to parents, educators and budding entrepreneurs themselves. All of them are on the lookout for the strengths that show someone is likely to launch a company when they get older. And all of them want to know what strengths to foster to provide prospective entrepreneurs with the best foundation for a career.

Michael McFaul, the Peter and Helen Bing Senior Fellow at the Hoover Institution
Other Media

What's It Like To Be Hated By The Russian Internet?

featuring Michael McFaulvia The Guardian
Tuesday, May 26, 2015

Online abuse has got much worse since the annexation of Crimea: the Russian-language debates on Twitter are much more personal. Sometimes it’s just a few very unpleasant tweets. Sometimes it’s hundreds of Twitter messages saying the same thing, as if they are coordinated. Occasionally people send threatening tweets to me about my physical security, they even threaten my children. I’ve moved back to the US to teach at Stanford University and it’s only got worse.

education
Blogs

Will States Tell Parents And Students The Truth About College Readiness?

by Chester E. Finn Jr.via Education Next
Tuesday, May 26, 2015

Amid way too much talk about testing and the Common Core, not enough attention is being paid to what parents will actually learn about their children’s achievement when results are finally released from the recent round of state assessments (most of which assert that they’re “aligned” with the Common Core).

Blogs

Bailout Barometer

by John H. Cochrane via Grumpy Economist
Tuesday, May 26, 2015

The Richmond Fed updated its "bailout barometer," at left. Post here and longer report here. (WSJ coverage here) I found the numbers and the table from the longer report interesting as well. Guaranteeing more than half of financial sector liabilities is impressive. But most of us don't know how large financial sector liabilities are. GDP is about $17 Trillion. $43 Trillion is a lot.

Featured Commentary

Why Universal Basic Skills Should Be The Primary Development Goal

by Eric Hanushek, Ludger Woessmannvia The World Economic Forum
Tuesday, May 26, 2015

Later this year, the UN will set the post-2015 Sustainable Development Goals. These goals will follow on from the previous Millennium Development Goals. The plethora of targets that is likely to emerge will make it hard to use them either as policy levers for change or as a means of charting progress. Instead, because knowledge capital is of utmost importance for inclusive world development, the primary post-2015 development goal should be that all youth achieve at least basic skills. The boost to future prosperity would be immense.

Featured Commentary

Disasters At Home And Abroad

by Victor Davis Hansonvia National Review
Tuesday, May 26, 2015

Things are starting to collapse, abroad and at home. We all sense it, even as we bicker over who caused it and why. ISIS took Ramadi last week. That city once was a Bastogne to the brave Americans who surged to save it in 2007 and 2008. ISIS, once known at the White House as the “Jayvees,” were certainly “on the run” — right into the middle of that strategically important city.
 

Featured Commentary

Tomorrow's National Security Landscape

by Amy Zegartvia Defining Ideas
Tuesday, May 26, 2015

There are four key areas of threat to which the United States should respond. 

Featured Commentary

Graduation Gifts

by Thomas Sowellvia Creators Syndicate
Tuesday, May 26, 2015

This is the season of college graduations, and many people may be wondering what kinds of gifts would be most appropriate for young people leaving the world of academia and heading out to face the challenges and opportunities of adulthood in the real world.

Blogs

Violence Or Morality: How Should We Think About Radicalization?

by Mark Harrisonvia Mark Harrison's Blog
Monday, May 25, 2015

Our society is worried about radicalization. What is radicalization? Apparently it is all about violence. According to the UK government's Prevent strategy (2011), "radicalisation is driven by an ideology which sanctions the use of violence." According to the more recent Tackling extremism in the UK (2013) "we must confront the poisonous extremist ideology that can lead people to violence."

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