Well before Sigmund Freud formalized the idea of “projectionism”—the defense of one’s own shortcomings and sins by attributing them to others—it was a common theme in classical literature and the New Testament: the ridiculing of the mole on someone else’s nose to hide one’s own boil.
If one foreign power continues to shred, on an ever-more daring basis, the integrity and inviolability of our electoral process, other foreign powers will draw lessons and follow. And they won’t all be pitching in on the Republican side.
The Federal Reserve is re-examining its monetary policy strategy. It is considering whether alternatives to the present inflation-targeting framework could be more efficient and transparent in helping it attain its core macroeconomic objectives of price stability and maximum employment, while maintaining its independence. My research provides ample theoretical, empirical and historical evidence that can help the policymakers in their pursuit.
Shoshana Zuboff of Harvard University talks about her book Surveillance Capitalism with EconTalk host Russ Roberts. Zuboff argues that the monetization of search engines and social networks by Google, Facebook, and other large tech firms threatens privacy and democracy.
Andrew Roberts, a Visiting Professor at the War Studies Department at King’s College, London and the Lehrman Institute Lecturer at the New-York Historical Society, sits down with Paul E. Peterson to discuss his new book, "Churchill: Walking with Destiny," Winston Churchill's lasting impact on Western civilization, and how he is taught today in schools.
From Britain’s Daily Telegraph (reprinted in Canada’s National Post, Thursday, July 25, 2019: Hassan Rouhini, Iran’s president, said Wednesday that if Britain reversed its “wrong actions, including what they did in Gibraltar” then “they will receive a proper response from Iran.”
Economists generally assume that more choices are better than fewer choices. But if that were so, argues Thaler, people would be upset, not happy, when the host at a dinner party removes the pre-dinner bowl of cashews. Yet many of us are happy that it’s gone. Purposely taking away our choice to eat more cashews, he argues, makes up for our lack of self-control. This simple contradiction between the economists’ model of rationality and actual human behavior, plus many more that Thaler has observed, leads him to divide the population into “Econs” and “Humans.” Econs, according to Thaler, are people who are economically rational and fit the model completely. Humans are the vast majority of people.
Hoover Institution fellow Niall Ferguson discusses a potential deal with China, as well as other foreign policy successes, which Ferguson believes will tee up an election victory in 2020 for President Trump.
In an interview on CNN’s “State of the Union” on Sunday, Senator Cory Booker (D-N.J.) became the latest Democratic presidential candidate to confirm that a new government insurance system known as a “public option” is designed to lead to Medicare for all, meaning it would ultimately subject Americans to the same high costs, unaffordable tax increases, loss of consumer choice and diminished access to high-quality health care.
John Cochrane gave a preview of a WSJ oped he wrote in response to something from James Grant. Permit me to be brief about the utter nonsense from Grant before noting the more worthwhile discussion from Cochrane:
After Finance Minister Nirmala Sitharaman proposed that the Indian government would borrow some of its funds in overseas markets in foreign currencies, there is a lot of buzz on sovereign bonds. It has been a fiercely-debated issue with a lot of highly economists. Even former Reserve Bank of India governors and deputy governors, mostly arguing against such an issuance. To top it all, now, there are news reports suggesting that Finance Secretary Subhash Chandra Garg was transferred to the power ministry because the government was unhappy with his handling of the sovereign bond issue. Here’s a FAQ on sovereign bonds.
In celebration of Constitution Day, we hope you join us for lunch with Professor Michael McConnell. An expert in constitutional law and theory, equal protection, and the founding, Professor McConnell serves as Director of the Constitutional Law Center at Stanford Law School and a Senior Fellow at the Hoover Institution.