Hoover Daily Report
Featured
Featured

Josh Rauh Warns Why Taxpayers Will Have To Bail Out Public Pensions

by Joshua D. Rauhvia PolicyEd
Monday, January 7, 2019

State and local governments are claiming that they’re running balanced budgets, when in reality they’re relying on future investment returns to pay for pension benefits to retirees.

Featured

Actually, 2018 Was A Pretty Good Year

by Victor Davis Hansonvia American Greatness
Wednesday, January 2, 2019

The year 2018 will be deplored by pundits as a bad year of more unpredictable Donald Trump, headlined by wild stock market gyrations, the melodramas of the Robert Mueller investigation, and the musical-chair tenures of officials in the Trump Administration. The government is still shut down. Talk of impeachment by the newly Democrat-controlled House of Representatives is in the air.

Featured

Krugman On Optimal Taxes

by John H. Cochrane via Grumpy Economist
Sunday, January 6, 2019

As you may have noticed, I try very hard not to get in to the business of rebutting Paul Krugman's various outrages. The article "The economics of soaking the rich" merits an exception. I will ignore the snark, the... distoritions, the ... untruths, the attack by inventing evil motive, the demonization of anything starting with the letter R, and focus on the central economic points.

Featured

Economic Alarmists Tell Tall Tales Of A Rigged Economy

by Russell Robertsvia The Hill
Friday, January 4, 2019

In a recent article in Scientific American, “The American Economy is Rigged,” Nobel laureate economist Joseph Stiglitz paints a gloomy picture of the U.S. economy and the American Dream over the last 40 years and then some: "Whereas the income share of the top 0.1 percent has more than quadrupled and that of the top 1 percent has almost doubled, that of the bottom 90 percent has declined. Wages at the bottom, adjusted for inflation, are about the same as they were some 60 years ago!"

Featured

Oscar Contender Women Of The Gulag Meets Its First Troll – A Gulag Denier

by Paul R. Gregoryvia What Paul Gregory Is Writing About (Blog)
Sunday, January 6, 2019

Our documentary film, Women of the Gulag, made the Academy’s short-list of ten documentary films contending for a place in the final five. That Russian-American director, Marianna Yarovskaya, is the first Russian documentary film maker in the history of the Russian Federation to make it so far in Oscar competition has attracted considerable attention in Russian media, especially its liberal sites. It did not take long however before it caught the attention of Russian Gulag deniers. 

Analysis and Commentary
Analysis and Commentary

Deregulation

by John H. Cochrane via Grumpy Economist
Friday, January 4, 2019

Many of us free-market types bemoan how poorly designed regulation hurts economic growth. But unlike "stimulus," regulation is a death by a thousand knives. Each one seems innocuous, but they add up. It's hard to tell the story without details. There is no handy government statistic on "impact of regulations." We tend to talk about what we can easily measure. Likewise, there is a general sense that the current deregulation effort may be helping, but again without details it's hard to know if this is truth or spin.

Analysis and Commentary

An Epidemic Of Erasures, Redactions, Omissions, And Perjuries

by Victor Davis Hansonvia American Greatness
Sunday, January 6, 2019

Imagine the following: The IRS sends you, John Q. Citizen, a letter alleging you have not complied with U.S. tax law. In the next paragraph, the tax agency then informs you that it needs a series of personal and business documents. Indeed, it will be sending agents out to discuss your dilemma and collect the necessary records.

Analysis and Commentary

Deconstructing Teacher Turnover

by Chester E. Finn Jr.via Flypaper (Fordham Education Blog)
Thursday, January 3, 2019

During the news lull between Christmas and New Years, the Wall Street Journal published an alarmist piece about the high rate of teachers and other public educators quitting their jobs. Reporters Michelle Hackman and Erick Morath examined Labor Department data on employee turnover during the first ten months of 2018 and found that educators were exiting at the rate of 83 per 10,000 per month, which would work out to almost one in ten over the course of a full year.

Herbert Hoover Subject Collection, Envelope BBBB, Hoover Institution Archives
Analysis and Commentary

How The Electromagnetic Spectrum Became Politicized

by David R. Hendersonvia Defining Ideas
Wednesday, January 2, 2019

An account of the FCC's many glaring mistakes. 

Analysis and Commentary

The Education Exchange: Who Benefits From Redshirting?

by Paul E. Petersonvia The Education Exchange
Monday, January 7, 2019

Many parents choose to wait an extra year before enrolling a child in elementary school, a practice known as redshirting. Does this practice benefit the children who are held back? This week, Paul E. Peterson talks with Phillip Cook of Duke University, the co-author of a new study on the impact of delayed entry on student achievement.

Analysis and Commentary

US-China Relations At 40

by Elizabeth Economyvia The Diplomat
Tuesday, January 1, 2019

2019 should be a year of celebration; it marks 40 years since the establishment of diplomatic relations between the United States and China. Bilateral trade and investment between the two countries has grown exponentially from $5 billion in 1980 to $710 billion in 2017; student exchange and tourism numbers have soared; and peace has been maintained in the Asia-Pacific.

Analysis and Commentary

Selgin On IOER And TNB

by John H. Cochrane via Grumpy Economist
Friday, January 4, 2019

George Selgin has a nice piece on TNB and IOER, which I missed when it came out in September, but it's still relevant. (HT a correspondent. TNB is "The Narrow Bank" which I wrote about here; IOER is interest on excess reserves. The Fed pays banks interest on reserves, which are accounts that banks hold at the Fed.)

Analysis and Commentary

Ed Dolan On Employer-Sponsored Health Insurance

by Russell Robertsvia EconTalk
Monday, January 7, 2019

This week, economist Ed Dolan of the Niskanen Center talks about employer-based health insurance with EconTalk host Russ Roberts. Dolan discusses how unusual it is relative to other countries that so many Americans get their health insurance through their employer and the implications of that phenomenon for the structure of the health insurance market.

Analysis and Commentary

Popular Vote Power Play

by David Davenportvia Townhall
Wednesday, January 2, 2019

Democrats are frustrated that they have lost the presidency in the Electoral College twice in the 21st century. But instead of amending the Constitution, they are going to courts and state legislatures. Four lawsuits claim that votes for the losing candidate in a winner-take-all electoral vote are not counted equally as required by the 14th Amendment. Of course all the votes are counted at the state level, as the Constitution provides, so this should be a losing argument, but these days who knows?

Analysis and Commentary

Syria And Our Foreign Policy Muddle

by Bruce Thorntonvia FrontPage Mag.com
Thursday, January 3, 2019

Donald Trump’s decision to pull ground troops out of Syria, followed hard by Defense Secretary Mattis’ resignation effective January 1, has sparked the usual complaints about the unpredictable, shoot-from-the-hip president. And as usual, the most important issue underlying the debate over his decision is ignored––our failure to settle on a coherent, long-term foreign policy strategy.

Analysis and Commentary

‘Free Speech’ Means Just That

by John Yoo, James C. Phillipsvia National Review
Monday, December 31, 2018

A too-broad interpretation of the Constitution’s free-speech clause protects things that have nothing to do with speech and makes other clauses superfluous.

Analysis and Commentary

A Qualified Defense Of The Barr Memo: Part I

by Jack Goldsmithvia Lawfare
Friday, January 4, 2019

Daniel Hemel and Eric Posner have harshly criticized William Barr’s memo on Special Counsel Robert Mueller’s obstruction of justice theory. They say (in the New York Times) that the memo “seriously damages [Barr’s] credibility and raises questions about his fitness for the Justice Department’s top position” and (later, on Lawfare) that the memo is “poorly reasoned.”

Analysis and Commentary

How Donald Trump’s Foreign Policy Defies America’s Best Interests

by Josef Joffevia The American Interest
Monday, January 7, 2019

At half-time, Donald Trump has demolished a lot and rebuilt nothing. Even his short-term foreign policy successes have proven brittle. And in the longer term, his not-so-grand strategy—aka “America First”—may well prove costly, as it always has for America.

Analysis and Commentary

Districts Should Start Fresh On School Discipline Reform In The New Year

by Michael J. Petrillivia Flypaper (Fordham Education Blog)
Friday, January 4, 2019

For the new year to bring a new politics to America—one marked by a pragmatic search for solutions, with good ideas from left, right, and center—it’s going to have to come from the bottom up, far away from the Washington outrage machine. A good place to start would be the contentious challenge of school discipline.

Analysis and Commentary

Petrilli: For The New Year, Districts Should Make A Fresh Start On School Discipline Reform

by Michael J. Petrillivia The 74 Million
Wednesday, January 2, 2019

For the new year to bring a new politics to America — one marked by a pragmatic search for solutions, with good ideas from left, right, and center — it’s going to have to come from the bottom up, far away from the Washington outrage machine. A good place to start would be the contentious challenge of school discipline.

Analysis and Commentary

Think Doomsday Scenarios Are Just Some Film Fantasy? Think Again.

by Markos Kounalakisvia Miami Herald
Thursday, January 3, 2019

Security threats do not always come from a determined adversary or sworn enemy. What if, like in the age of dinosaurs, we faced an external threat? A huge, hurtling meteor, for example, that could destroy most life on Earth as it did 66 million years ago?

Analysis and Commentary

‘Unruly Waters’ And ‘Ganges’ Review: In India, Water Is Politics

by Tunku Varadarajanvia The Wall Street Journal
Friday, January 4, 2019

The opening shot of “Mother India,” the most iconic film made in India in the decade after its independence, is of an old peasant woman struggling to grow crops on parched land. Behind her are rumbling tractors and earth movers, unsubtle symbols of progress. Then the camera pans past electric cables and newly metaled roads to a magnificent dam, which will bring water to the arid earth. 

Analysis and Commentary

Three Felonies A Day?

by David R. Hendersonvia EconLog
Saturday, January 5, 2019

The average professional in this country wakes up in the morning, goes to work, comes home, eats dinner, and then goes to sleep, unaware that he or she has likely committed several federal crimes that day. Why? The answer lies in the very nature of modern federal criminal laws, which have exploded in number but also become impossibly broad and vague.

Interviews
Interviews

Scott Atlas: What Never Trumpers Never Do

interview with Scott W. Atlasvia The Daily Wire
Thursday, January 3, 2019

Hoover Institution fellow Scott Atlas discusses health care reform.

Interviews

Lanhee Chen On The Fox News Rundown (12:55)

interview with Lanhee J. Chenvia Fox News
Friday, January 4, 2019

Hoover Institution fellow Lanhee Chen discusses Senator Mitt Romney's Washington Post op-ed.

In the News
In the News

Vietnam War Photo Exhibition In A Surprising Dimension Of Stanford’s Hoover Institution

featuring Hoover Institutionvia San Francisco Chronicle
Tuesday, December 18, 2018

The Hoover Institution at Stanford University, which has never been known for opposing American military intervention, is the last place to expect an exhibition of stark photographs from the lost war in Vietnam.

US flag on military helmet
In the News

Stanford Students Learn About Military Culture, Get Life Lessons From Top Military Officials

quoting George P. Shultz, Amy Zegart, Lt Col Kevin Childs, COL Paul Krattiger, Col Timothy "Papa" Murphy, COL Jason Terry, Hoover Institutionvia Stanford News
Friday, January 4, 2019

The National Security Affairs Fellows Mentorship Program pairs Stanford undergraduates with high-ranking members from the U.S. armed forces to give students a personal perspective into military life and issues.

In the News

What We Have Learned So Far (4)

quoting Victor Davis Hansonvia Powerline
Thursday, January 3, 2019

For the first time in modern memory, during the 2016 election, one candidate hired a law firm and opposition research team to employ a foreign-national operative, who in turn bought foreign [i.e., if the foreign national’s dossier is taken at face value, Russian] sources to discredit his employer’s opponent and with others also enlisted the existing hierarchies of the DOJ, CIA, FBI, NSC, and FISA courts to break past protocol, and often the law, in order to obstruct the candidacy, transition, and presidency of Donald Trump.

In the News

Trump Using American Capitalism To Help The Poor

quoting John H. Cochrane via Creators
Wednesday, January 2, 2019

During Christmas week, Fox News invited me to discuss how President Donald Trump's achievements for black Americans are registering in awareness in these communities. Unfortunately, we didn't succeed in scheduling the interview. It's a subject of enormous importance not just because of what the president is doing to the benefit of low-income Americans, but also because of how he is doing it — his approach to lifting up those not participating as they should in our prosperity.

In the News

It's The Phonics, Stupid

quoting Thomas Sowellvia The Patriot Post
Monday, January 7, 2019

Nothing imperils our nation’s future more than our education system. A reasonably educated populace would have little use for orchestrated polarization, gutter-mouth politics, the cultural sewage that passes for popular entertainment, and the complete abandonment of decency, decorum, and common sense that is now the norm. Nothing reinforces that norm more effectively than raising a nation of American students who cannot read.

In the News

Russia High-Rise Collapse An Emblem Of Hardships In The Hinterlands

quoting Stephen Kotkinvia The New York Times
Saturday, January 5, 2019

A loud bang startled Anna P. Timofeyeva awake. She reached for the light, but the electricity had gone out. In the dark, she and her husband quickly dressed their 2-year-old son and prepared to flee. “We understood something was wrong,” she said. But when they opened the front door of their apartment they stopped short. From the doorstep of the family’s seventh-floor apartment, she said, they could look directly down on a heap of rubble far below, all that was left of 25 neighboring apartments.

In the News

Trump's Syria Withdrawal Does Nothing To Restore Constitutional Limits On Presidential War Powers

quoting Jack Goldsmithvia Reason
Tuesday, January 1, 2019

While the Syria intervention lacked proper congressional authorization, constitutional considerations had nothing to do with Trump's withdrawal decision. Indeed, his administration has doubled down on Obama-era arguments asserting broad presidential authority to initiate military interventions.

In the News

Trump Took Credit For Stock Market Records. Does He Deserve Blame For The Plunge?

quoting Steven J. Davisvia Bloomberg
Thursday, January 3, 2019

Green means up and red means down in the stock market. Lately there have been many red days. But the true color of today’s market is golden orange—the hue of the pompadour atop the head of President Donald Trump. Because for better and for worse, this has become Trump’s stock market. Until October, the extended bull market was reasonably called the Trump Bump. The decline over the past few months, particularly since the start of December, is the Trump Slump.

In the News

Mitt Romney Is Wrong About The President And The Presidency

quoting Victor Davis Hansonvia The Sacramento Bee
Thursday, January 3, 2019

Oh, great. Mitt Romney is lecturing us about character and decency now. The new year is already shaping up to be a hectoring and annoying one. Romney, the new U.S. Senator from Utah (by way of Michigan, Massachusetts and California), took to the opinion pages of the Washington Post on Wednesday to chide Donald Trump, whose character the failed 2012 Republican presidential candidate finds wanting.

In the News

Wednesday Afternoon Links

quoting Thomas Sowellvia AEI
Wednesday, January 2, 2019

Quotation of the Day I, from Thomas Sowell: If you want to see the poor remain poor, generation after generation, just keep the standards low in their schools and make excuses for their academic shortcomings and personal misbehavior. But please don’t congratulate yourself on your compassion.

In the News

White House (Officially) Gets Its Drug Czar

quoting Lanhee J. Chenvia Politico
Thursday, January 3, 2019

The parties will work together to fix the ACA. "The zeroing out of the individual mandate penalty in 2019 will precipitate further instability in markets, with more insurers exiting and existing plans getting more expensive. It will be politically untenable for Republicans to simply blame Democrats, and for their part Democrats will not be able to sit idly by while President Obama's legacy law crumbles before them."

In the News

Trump Says Federal Workers Will Support Him Even If Shutdown Drags On

quoting Bill Whalenvia Las Vegas Review-Journal
Friday, January 4, 2019

President Donald Trump acknowledged Friday that the partial government shutdown could last for months, even a year or longer, but he said he believes many furloughed workers will support him even if the shutdown is prolonged.

In the News

The Top 10 Books Of 2018

mentioning Niall Fergusonvia Seeking Alpha
Wednesday, January 2, 2019

One of the keys to becoming a successful investor is to realize that the strongest long-term trends will always transcend the ebb and flow of daily market gyrations and scary headlines. The media will forever focus on the worst-case scenario, but the one thing I would counsel investors to remember is that seven billion people are working every day to make their life better and that will always be a bullish force.