Hoover Daily Report
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Featured

White House Chairman Of The Council Of Economic Advisers Joins The Hoover Institution

Monday, July 1, 2019
Hoover Institution, Stanford University

Kevin Hassett, most recently the White House Chairman of the Council of Economic Advisers, has joined the Hoover Institution as a Distinguished Visiting Fellow. Hassett was confirmed in September 2017 as the 29th chairman of the council.

News
Featured

Debate Moderators Don’t Know Much About National Security

by Amy Zegartvia The Atlantic
Saturday, June 29, 2019

Viewers of the Democratic presidential debates learned quite a bit this week—from Joe Biden’s views of school busing to Marianne Williamson’s plan to defeat President Donald Trump with love. But I’d bet the next president will be consumed by an issue not a single person mentioned: cyber threats.

Featured

Victor Davis Hanson On Breitbart News Tonight

interview with Victor Davis Hansonvia Breitbart News Tonight
Thursday, June 27, 2019

Hoover Institution fellow Victor Davis Hanson reflects on changes in California he has observed across his lifetime residency in the coastal state. Hanson notes that California might be our first third world state, depending on where you go in California.

Featured

The Phillips Curve Is Still Dead

by John H. Cochrane via The Grumpy Economist
Sunday, June 30, 2019

Greg Mankiw posted a clever graph a month ago, which he titled "The Phillips Curve is Alive and Well."

Featured

In Britain, The Old Politics And The New

by Niall Fergusonvia The Boston Globe
Monday, July 1, 2019

Ours is a time of paradoxes. For example: Even as information technology has empowered enormous and open-access social networks, politics in Britain continues to be run by the tiny and exclusive old boy network.

Analysis and Commentary
Milton Friedman, recipient of the 1976 Nobel Memorial Prize for economic science
Analysis and Commentary

The House That Milton Friedman Built

by Timothy Kanevia Balance of Economics
Monday, July 1, 2019

This year, 2019, is the 100th anniversary of the #HooverInstitution, so I thought I’d share a story about how I came to discover the place in my youth ….

Analysis and Commentary

Trump, The Fed, And Interest Rates

by Tunku Varadarajanvia The Wall Street Journal
Friday, June 28, 2019

These are dizzy days for monetary economists. Mario Draghi, president of the European Central Bank, gave notice in a June 18 policy speech that his beleaguered shop could cut interest rates even further than it has already if Europe’s economy continues to deteriorate.

Analysis and Commentary

The Anti-Trump Circus

by Victor Davis Hansonvia American Greatness
Sunday, June 30, 2019

We are now in the fourth year of an anti-Trump mania, and about reaching the point of caricature.

Analysis and Commentary

A Suggestion For The Next Time He Debates: Let Biden Be Biden – Whatever That Means

by Bill Whalenvia Forbes
Saturday, June 29, 2019

I was going to write a column in the immediate aftermath of this week’s Democratic presidential debates, but decided that discretion – and delay – was the better part of valor.

Analysis and Commentary

Conservatism And The Repair Of The Republic

by Peter Berkowitzvia Real Clear Politics
Saturday, June 29, 2019

The divisions among American conservatives have generally been more evident -- certainly to conservatives -- than the principles that might unite them. President Reagan’s two terms are the exception. The pronounced divisions of today are the rule.

Analysis and Commentary

Adam Cifu On The Case For Being A Medical Conservative

by Russell Robertsvia EconTalk
Monday, July 1, 2019

Physician and author Adam Cifu of the University of Chicago talks about being a medical conservative with EconTalk host Russ Roberts. Cifu encourages doctors to appreciate the complexity of medical care and the reality that many medical techniques advocated by experts are not always beneficial or cost-effective. The conversation explores the challenges of finding reliable evidence to support medical interventions and the inherent uncertainty surrounding outcomes.

Analysis and Commentary

A New Look at American History

by Paul E. Petersonvia The Education Exchange
Monday, July 1, 2019

Wilfred McClay joins Paul E. Peterson to discuss his new book, Land of Hope: An Invitation to the Great American Society, which he describes as a narrative account of the American story that could be used as a high school history textbook.

Analysis and Commentary

The Existential Threat From Cyber-Enabled Information Warfare

by Herbert Linvia Bulletin of the Atomic Scientists
Friday, June 28, 2019

Corruption of the information ecosystem is not just a multiplier of two long-acknowledged existential threats to the future of humanity – climate change and nuclear weapons. Cyber-enabled information warfare has also become an existential threat in its own right, its increased use posing the possibility of a global information dystopia, in which the pillars of modern democratic self-government – logic, truth, and reality – are shattered, and anti-Enlightenment values undermine civilization as we know it around the world.

Analysis and Commentary

Bleeding Talent

by Timothy Kanevia Palgrave Macmillan
Monday, July 1, 2019

Shaping the debate on how to save the military from itself. The first part recognizes what the military has done well in attracting and developing leadership talent. The book then examines the causes and consequences of the modern military's stifling personnel system and offers solutions for attracting and retaining top talent.

Analysis and Commentary

The 100th Anniversary Of The Treaty Of Versailles

by Peter R. Mansoorvia Military History in the News
Friday, June 28, 2019

Today the world celebrates one of the final centenarian milestones of the Great War, the signing by the victorious Allied Powers and defeated Germany of the Treaty of Versailles, which brought to an end the First World War. Although U.S. President Woodrow Wilson had hoped to conclude a peace based on his “14 Points” speech to Congress delivered on January 8, 1918, the blood debt incurred by the allies made such an idealistic peace impossible. Allied politicians had to justify to their constituencies the slaughter of a generation of young men in the trenches. One way to do this, in their eyes, was to ensure German militarism would never rise again.

Analysis and Commentary

Child Poverty Is Down Sharply Since The Start Of The Ed Reform Era

by Michael J. Petrillivia EducationNext
Monday, July 1, 2019

Over the last few weeks, I’ve presented evidence that student outcomes in America improved significantly from the late 1990s until the onset of the Great Recession. The progress was greatest and most widespread in math, but also strong in reading, and pretty good in science, writing, U.S. history, and civics. In all of these cases, gains were greatest for the lowest-achieving students, for students of color, and at the fourth and eighth grade levels. With just a few exceptions, the trends for twelfth grade have generally been flat.

Analysis and Commentary

Tim Herrera's Confusion About How To Get Rich

by David R. Hendersonvia EconLog
Sunday, June 30, 2019

Think on the margin. Earlier this month CNBC generated an outrage cycle about money advice by tweeting this story, in which the personal finance professional Suze Orman claimed that buying coffee means “you are peeing $1 million down the drain as you are drinking that coffee.”

Analysis and Commentary

Jim Acosta Shows His Bias

by David R. Hendersonvia EconLog
Monday, July 1, 2019

And so does CBS. As I mentioned in a post some time ago, I record CBS Sunday morning mainly so I can watch the beautiful nature shots right at the end, but also so I can watch some of the other good segments. I rarely watch the political parts, but when they said, on the June 9 show (which I watched on June 30) that they would interview Jim Acosta of CNN, I was curious. I wanted to see him in a non-threatening environment and see how it came off.

Interviews
Interviews

Richard Epstein On The John Batchelor Show (Part 1 Of 2)

interview with Richard A. Epsteinvia The John Batchelor Show
Saturday, June 29, 2019

(Part 1) Hoover Institution fellow Richard Epstein discusses his Defining Ideas article "Race Madness At Oberlin College."

Interviews

Richard Epstein On The John Batchelor Show (Part 2 Of 2)

interview with Richard A. Epsteinvia The John Batchelor Show
Saturday, June 29, 2019

(Part 2) Hoover Institution fellow Richard Epstein discusses his Defining Ideas article "Race Madness At Oberlin College."

Interviews

Raghuram Rajan: The Roots Of Our Discontent

interview with Raghuram Rajanvia Project Syndicate
Friday, June 28, 2019

Hoover Institution fellow Raghuram Rajan talks about a wide range of topics relating to this year’s theme at the Trento Festival of Economics: “Globalization, Nationalism, and Representation.”

Interviews

Victor Davis Hanson: 2020 Democratic Candidates Take Aim At Joe Biden During Debate

interview with Victor Davis Hansonvia Fox News
Saturday, June 29, 2019

Hoover Institution fellow Victor Davis Hanson discusses the Democrat's debates.

Interviews

SCOTUS Rulings--Why They Made The Right Decisions. Adam White Talks To A&G

interview with Adam J. Whitevia Armstrong and Getty
Friday, June 28, 2019

Hoover Institution fellow Adam White discusses the recent Supreme Court decisions concerning gerrymandering and the citizenship question on the 2020 census.

Interviews

Lanhee Chen: What Concessions Are The North Koreans Willing To Make?

interview with Lanhee J. Chenvia Yahoo Finance
Monday, July 1, 2019

(1:15) Hoover Institution fellow Lanhee Chen discusses President Trump's negotiations with North Korean leader Kim Jong Un.

Interviews

Peter Robinson: The Great Debate

interview with Peter M. Robinsonvia The Ricochet Podcast
Friday, June 28, 2019

Hoover Institution fellow Peter Robinson discusses the Democrat's debates, the border crisis, and much more.

In the News
In the News

Happy 89th Birthday (June 30) To Thomas Sowell, One Of The Greatest Living Economists

featuring Thomas Sowellvia American Enterprise Institute
Saturday, June 29, 2019

One of my all-time most favorite economists — Thomas Sowell — turns 89 tomorrow, he was born on June 30, 1930. Here is Thomas Sowell’s webpage and here is his Wikipedia entry. Milton Friedman once said, “The word ‘genius’ is thrown around so much that it’s becoming meaningless, but nevertheless I think Tom Sowell is close to being one.”

In the News

Prof. Feldstein And Apple And Orange Prices

featuring Martin Feldsteinvia The Wall Street Journal
Sunday, June 30, 2019

When apples go up in price (because of rising costs to producers, transporters, retailers, etc.) and people switch to oranges, the increased demand for oranges causes the price of oranges to rise.

Hoover senior fellow Thomas Sowell
In the News

Thomas Sowell: A Birthday Appreciation

featuring Thomas Sowellvia Forbes
Sunday, June 30, 2019

As I mentioned last month in an homage to one of his regular features, my intellectual hero is Thomas Sowell. Today is Dr. Sowell's 89th birthday. Since turning 80, he has published Intellectuals and Race, Wealth, Poverty, and Politics (with a second revised edition coming a year later), a couple of new editions of his Basic Economics, and Discrimination and Disparities. I read Sowell's memoir, A Personal Odyssey, in one sitting when it came out, and I've never read a Sowell book and thought it a poor use of my time.

In the News

The Third Pillar Explores How Community Control And Solidarity Are Necessary Pillars In A Vibrant Society

featuring Raghuram Rajanvia International Examiner
Sunday, June 30, 2019

The Third Pillar: How Markets and the State Leave the Community Behind is three-part look at how modern nations and markets developed at the expense of community control and solidarity. Authored by Raghuram Rajan, currently a professor at the University of Chicago who grew up in India and headed the Reserve Bank of India from 2013-2016, The Third Pillar argues that national governments in many countries have grown so large that they have increasingly allocated resources and created policies without local input.

In the News

American Exceptionalism, Patriotic Assimilation And The Fourth Of July

quoting Victor Davis Hansonvia Juneau Empire
Friday, June 28, 2019

On July 4, 1776, a year after the outbreak of the American Revolutionary War, steeple bells rang throughout Philadelphia. John Hancock, President of the Continental Congress, had just signed the document later known as the United States Declaration of Independence.

In the News

To Protect Liberty, The Supreme Court Must Apply Nondelegation Doctrine

quoting Morris P. Fiorinavia The Hill
Friday, June 28, 2019

It’s not often one has the opportunity to undo an original sin. The U.S. Supreme Court recently had that opportunity in Gundy v. United States. Unfortunately, the justices ate of the forbidden apple once again, leaving intact a 1928 ruling and continuing to forfeit some of our rights to self-governance.

In the News

John Delaney Won't Be President, But His Health Care Proposal Is Worth A Look

quoting Martin Feldsteinvia Reason
Friday, June 28, 2019

He might not be polling well, but his proposal on health care draws on work from prominent libertarian economists.

In the News

EU Summit Top Jobs Race Round Two

quoting Timothy Garton Ashvia Euro News
Friday, June 28, 2019

Brussels is gearing up for another EU summit. European leaders will meet on Sunday to thrash out a deal over the team that will guide the bloc for the next five years. The power game between the French and German leaders will be key to any breakthroughs. Paris is pushing for French Brexit negotiator Michel Barnier, while Berlin is sticking to their German candidate MEP Manfred Weber.

In the News

Thomas Sowell Quotes

quoting Thomas Sowellvia American Enterprise Institute
Friday, June 28, 2019

It’s Thomas Sowell’s birthday on Sunday, and I’ll have a longer birthday post for Dr. Sowell tomorrow. For now, here are ten great quotes from the chapter “Random Thoughts” that appears in Sowell’s 2006 book “Ever Wonder Why? And Other Controversial Essays“:

In the News

Does Currency Manipulation Explain US Trade Deficits?

quoting Kenneth L. Juddvia Chicago Booth Review
Friday, June 28, 2019

In May, the US Treasury published a report to Congress on the macroeconomic and foreign exchange policies of major trading partners of the United States. As Stanford economist and Chicago Booth distinguished senior fellow John H. Cochrane noted on his blog, this made clear reference to the possibility of currency manipulation.

In the News

Elizabeth Warren Wants Answers From JPMorgan On New Forced Arbitration Policy

quoting Amit Seru via Yahoo Finance
Friday, June 28, 2019

Senator Elizabeth Warren (D-MA) is ratcheting up the pressure on America’s biggest bank.

In the News

Britain’s Theresa May Gave Putin The Cold Shoulder. Trump Joked With Him.

quoting Michael McFaulvia The Washington Post
Friday, June 28, 2019

As they met with Vladimir Putin in Osaka, Japan, for the G-20 summit, British prime minister Theresa May and President Trump presented sharp contrasts in their public greeting of the Russian president.

In the News

Trump Deregulation Will Boost Household Income By $3,100, Report Finds

quoting Casey B. Mulliganvia The Daily Signal
Friday, June 28, 2019

The Trump administration deregulation efforts will raise incomes by about $3,100 per household over the next five to 10 years, and sharply reduce prices for consumers, according to a report released Friday by the White House Council of Economic Advisers.

In the News

Research & Commentary: Single-Payer Health Care Should Be Dead Upon Arrival

quoting Charles Blahousvia Heartland Institute
Friday, June 28, 2019

In this Research & Commentary, Matthew Glans examines single-payer health care systems, their many flaws, and outlines why legislators should resist efforts to implement these reforms at both the state and federal level.

In the News

DoD, NATO Turn To Collective Defense Against Cyber Attacks

quoting Jamil Jaffervia Federal News Network
Friday, June 28, 2019

Since 2004, the Defense Department has been a part of an international Computer Emergency Response Team through NATO.

In the News

George Gilder: Cloud Computing Is Reaching Its Limits

quoting Peter M. Robinson, Hoover Institutionvia Mind Matters News
Saturday, June 29, 2019

The “cloud” isn’t something ethereal “up there,” Gilder reminds us; it is giant factory floors of computers.