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Hoover Digest by topic: Economic Theory

October 30, 1999

Capitalism and Its Discontents

Socialism and central planning do not work. Capitalism and free markets do. Hoover fellow Michael J. Boskin on the outcome of one of the most important debates of the century.

July 30, 1999

Becker to Uncle Sam: Keep Your Hands Off Wall Street

President Clinton wants to invest some of the Social Security surplus in the stock market. Nobel laureate and Hoover fellow Gary S. Becker sees the president and raises him. Why we should privatize Social Security altogether

July 30, 1999

Hong Kong: Less Free to Choose

Hoover media fellow Edward Neilan discusses the sorry state of Hong Kong today. “To see how the free market really works,” Milton Friedman used to say, “Hong Kong is the place to go.” Would that it were still true.

July 30, 1999

Beware the Funny Money

Hoover fellow Milton Friedman talks with Hoover media fellow Peter Brimelow about inflation, currency values, and the Asian crisis. An end-of-the-century interview with one of the century’s great economists.

April 30, 1999

The Best of All Possible Worlds

Every so often it’s worth pausing to reflect on just how good capitalism has been to us. Hoover fellow David R. Henderson compares average Americans with medieval kings—and concludes that the kings were paupers.

April 30, 1999

Want High Returns? Take the Risks

As the stock market continues its unprecedented boom, Nobel laureate and Hoover fellow Gary S. Becker suggests that we all recall an economic truism: The greater the returns, the greater the risk.

April 30, 1999

A Continent out to Lunch

Europe’s chronic unemployment is a problem of Europe’s own making. Nobel laureate and Hoover fellow Gary S. Becker explains.

January 30, 1999

Quantifying the Brave New World

Plant, equipment, inventory—traditional accounting methods can cope with these. But intellectual capital? That poses a problem. Michael S. Malone explains the need for accounting techniques as new as the information age itself.

January 30, 1999

It’s All in Your Head

Economists used to believe that economic growth arose from sudden, dramatic breakthroughs—the steam engine in the eighteenth century, the transistor in our own. Yet according to Hoover fellow Paul M. Romer, “this account gets things exactly backward.” The founder of New Growth Theory explains himself.

January 30, 1999

How Private Property Saved the Pilgrims

When the Pilgrims landed in 1620, they established a system of communal property. Within three years they had scrapped it, instituting private property instead. Hoover media fellow Tom Bethell tells the story.