Hoover Institution Press today released Observations on the Financial Crisis, an essay in which Keith Hennessey and Edward Lazear draw on their experiences in the Bush White House to offer nineteen observations key to understanding the current financial crisis. Hennessey and Lazear highlight a number of generally overlooked points and correct popular misinterpretations of policy decisions made during the last year of the Bush administration and the first few months of the of the Obama administration.
In a new book entitled Observations on the Financial Crisis, Stanford professor Keith Hennessey and Stanford professor and Hoover senior fellow Edward P. Lazear draw on their experiences in the Bush administration, as well as discussions with colleagues and students, to present their thoughts and correct misperceptions about the financial crisis. The nineteen observations span the full trajectory of the financial crisis, from the various causes to Presidents Bush and Obama’s responses to the effects of the government’s actions. Listen to the podcast.
John Taylor, the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University, discusses the Federal Reserve’s monetary policy and the US economy. Taylor is concerned about quantitative easing and how to get back to a rules-based monetary policy that will help the economy.
This week on Uncommon Knowledge, Amity Shlaes sheds light on the life of Calvin Coolidge, the thirtieth president of the United States. The harsh conditions of Coolidge’s childhood shaped his political ideas and led to his deep understanding of life and helping people succeed, especially in business. Believing in small government and low taxes, he thought government needed to get out of the way so individuals and businesses could prosper. His supply-side economics were a resounding success, with an unemployment rate of 5 percent or even 3 percent, as the economy grew and the government shrank.